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Bitcoin Shows Trick That May Predict Large BTC Market Moves: Glassnode

Mon, 05/22/2023 - 14:15
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Yuri Molchan
Recent analytics data indicates that BTC may be in for high volatility in near future
Bitcoin Shows Trick That May Predict Large BTC Market Moves: Glassnode
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In a recent tweet, the Glassnode analysts' team stated that over the past seven days, the flagship cryptocurrency, Bitcoin, has consolidated within the 3.4% range — the difference between high and low points. This is one of the tightest consolidations within the past three years.

This can be compared to July 2020 and January 2023, when in both cases these consolidations were followed by large market moves, the tweet stated. Overall, the current situation with Bitcoin may signify that high volatility is likely to arrive soon.

James Bullard says Fed may raise rates again this year

Chinese crypto blogger and journalist Colin Wu has shared that president of St. Louis Federal Reserve Bank James Bullard believes the Fed is likely to perform two more interest rate hikes this year. If it happens, each would be 25 basis points.

Earlier this year, the Federal Reserve already conducted two rate hikes, in early February and at the start of May. Both times, the reaction shown by Bitcoin was negative as its price stumbled.

Legendary Trader Peter Brandt Makes Astonishing Bitcoin (BTC) Prediction

Peter Brandt shares his BTC forecast

As reported by U.Today earlier, old-school savvy commodity trader Peter Brandt tweeted that he believes Bitcoin's price may shake out one more time before it begins to break higher.

At press time, the major cryptocurrency is changing hands at $27,014, per CoinMarketCap, after showing a mild rise of 1% in the past hour.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at