Glassnode says Bitcoin volatility has fallen to 2023 summer levels as the market awaits the Federal Reserve decision
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Glassnode says Bitcoin volatility has fallen to 2023 summer levels, with the market focusing on the Federal Reserve decision.
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Glassnode: Bitcoin volatility has fallen to 2023 summer levels, and the Federal Reserve decision may trigger the next market move
PANews October 28 reported that Glassnode’s latest report indicated that Bitcoin had fallen back to 84000 below the range of 85000 USD, which has blocked price increases four times so far this year. Inflows into U.S. spot Bitcoin ETF funds have cooled significantly, with net inflows of only approximately 2 over the past 67000000 USD weeks; major buy-order support on Binance’s spot order book has also moved down to 78000 to 79000 USD, with a size of approximately 42000000 USD. Meanwhile, Bitcoin’s 1-month realized volatility has fallen to approximately 25%, returning to 2023 summer levels; since August, the realized losses triggered by each decline have also continued to narrow, indicating that selling pressure has eased somewhat. Glassnode believes that Bitcoin is currently trading within a range characterized by weak demand and limited selling pressure, while the market is focusing on the October 28 Federal Reserve interest-rate decision. If the daily close moves back above 85000 USD, it may...
Key points
01
Glassnode’s latest report indicated that Bitcoin had fallen back to 84000 below the range of 85000 USD, which has blocked price increases four times so far this year.
02
U.S. spot Bitcoin ETF over the past 2 weeks, with net inflows of approximately 67000000 USD。
03
Major buy-order support on Binance’s spot order book has moved down to 78000 to 79000 USD, with a size of approximately 42000000 USD。
04
Bitcoin’s 1-month realized volatility has fallen to approximately 25%, returning to 2023 summer levels.
05
Since August, the realized losses triggered by each decline have continued to narrow.
06
The market is watching the October 28 Federal Reserve interest-rate decision.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
The report, citing Glassnode, stated that Bitcoin’s price is trading within a range characterized by weak demand and limited selling pressure.ETF Inflows have cooled and buy-order support has moved lower, while volatility and realized losses have declined.
Why it matters to readers
Price range,ETF capital flows, buy-order support, and the Federal Reserve interest-rate decision may influence the market’s assessment of Bitcoin’s short-term direction.
Volatility measures the magnitude of price changes; realized volatility of approximately 25%indicates that recent price fluctuations are at a relatively low level, but does not mean that the price will necessarily rise or fall.
Risks and unknowns
The original text is PANews’s account of the Glassnode report; the original Glassnode report was not provided for independent verification.
The original text is truncated at “If the daily close moves back above 85000 USD, it may...”, leaving the subsequent conditions and conclusion incomplete.
ETF The actual market response after the inflows, buy-order support, and Federal Reserve decision remains unclear.
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Related concepts
Realized volatility
This term is not in the glossary yet. Browse related concepts in the glossary.
