Crypto News – The research and data analyst at CryptoSlate, James Van Straten, has released a new study that shows “characteristic” BTC pricing behavior.
BTC Pricing Behavior Has a Characteristic Structure, According to Van Straten
In 2024, Bitcoin reached two-year highs, but none of these, nor the $38,500 lows that followed, were able to sustain or initiate a wider price trend. Rather, the price of BTC/USD has stabilized inside a $5,000 trading range. As of February 2, the largest cryptocurrency, when daily closing levels are taken into consideration, had firmly stuck in the range for about 150 days.
Digging deeper, the price analysis in $5,000 increments reveals a pattern. Bitcoin has been trading within the price range of $40,000 to $44,999 for 146 days. This duration has recently overtaken its previous stint in the $35,000 to $39,999 range, which spanned approximately 138 days.
Van Straten
Current Horizontal Price Movement Consistent with BTC’s Past Trends
According to Van Straten, such price behavior is actually not unusual, despite the fact that it may be annoying for both bulls and bears.
When assessing price increments from $10,000 and upwards until $49,999, it becomes apparent that Bitcoin typically trades within these ranges for a period between 100 and 250 days. Thus, the current sideways price action aligns with Bitcoin’s historical trading patterns and can be considered characteristic behavior, not an anomaly.
Van Straten
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