Analysis: Bitcoin volatility exceeds March ATH level, may become a catalyst for breaking out of the consolidation phase

Bitcoin’s volatility has surpassed levels seen in March (when Bitcoin hit an all-time high) and continues to rise, which traders believe could be the catalyst Bitcoin needs to finally break out of its consolidation phase. But to trigger a rally, Bitcoin must first stay above $61,000 and successfully retest the $62,000 level, a level Bitcoin has not touched since August 9. “After a big drop in volatility, Bitcoin is now recovering and is close to the levels it reached when Bitcoin hit its all-time high earlier this year,” said Daan Crypto Trades, an anonymous crypto trader. “This is what is needed to finally end this massive consolidation in some way,” he added. According to CoinGlass, on August 21, the Bitcoin historical volatility chart indicator reached 3.42%, surpassing the 3.00% on March 13, when Bitcoin hit its all-time high of $73,679. (Cointelegraph)