The crypto market held steady on Friday, with bitcoin trading little changed at $71,700 and ether (ETH) at $2,180, extending the low-volatility price action that has characterized the past few months.
Daily Bollinger bands, a technical analysis tool that measures market volatility, are at their narrowest since early 2024. In the past, such a tight range — bitcoin has held between $63,000 and $75,000 since early February — has ended with a 40% move in price, according crypto analyst Eric Crown.
A breakout above $75,000 in bitcoin’s case would trigger upside momentum by trapping traders who are short and need to buy at market prices to cover their positions, while a short-term move below $70,000 will liquidate around $200…
