TechFlow news, on July 19, according to Cointelegraph, Julien Bittel, Head of Macro Research at financial newsletter Global Macro Investor, said Bitcoin's (BTC) volatility indicator, the "Bollinger Bands," is in its third period of extreme contraction in history. Bittel noted that such extreme tightening of the Bollinger Bands suggests a significant upward move in Bitcoin's price is likely. The two prior instances occurred in April 2016 and July 2023, both followed by substantial increases in Bitcoin’s price over the subsequent 12 months.
Bollinger Bands are one of the most important volatility indicators in the cryptocurrency market, offering insights into the strength of price trends. On the weekly chart, the gap between the upper and lower bands is rarely this narrow, which typically signals a bullish market setup. Bittel stated that if history repeats itself, Bitcoin could reach between $140,000 and $190,000.
Currently, BTC is trading around $63,700, up 11% over the past week. While trader confidence is gradually recovering and price indicators suggest the bull market will continue, mainstream retail investor interest remains weak—contrasting with accumulation behavior seen among institutions and large holders. Prominent trader Rekt Capital believes September this year will be a critical moment for Bitcoin to break out.
