The post Bitcoin’s Rangebound Trading and Potential Buy-in Signals Amid Bybit Hack Concerns appeared on BitcoinEthereumNews.com.

Bitcoin’s (BTC) unusual trend of rangebound trading has become a focal point for traders and analysts alike, especially following the recent hack of the crypto exchange Bybit, which has left investors questioning the resilience of the blockchain leader. In the backdrop of this incident, business intelligence firm Strategy appears to be positioning itself for a significant increase in BTC holdings, reflecting growing institutional interest. CEO Michael Saylor commented, “I don’t think this reflects what I got done last week,” indicating his firm may have further transactions to report. BTC/USD Trades in a Quiet Range Post-Bybit Hack Bitcoin’s price actions remain constrained as analysts observe a subdued trading environment following the Bybit hack. Data from Cointelegraph Markets Pro and TradingView highlights a quiet weekend for BTC/USD despite brief volatility following the breach. Traders have noted that the price has settled within the same region it has occupied for the past weeks, with popular trader Daan Crypto Trades commenting, “Range still ranging.” Amidst ongoing concerns, it has been observed that Bitcoin’s volatility is trending downward. The latest reports suggest that the open interest across exchanges has dropped to its lowest level since early February, indicating a possible reset in the market dynamics. Daan Crypto Trades noted, “A lower open interest with a higher price is something that could facilitate a healthy rebalancing.” Strategic Accumulation by Institutional Investors As the market stabilizes, the buzz surrounding Strategy has heightened with Michael Saylor’s recent disclosures about the company’s BTC holdings. Presenting a chart of its assets has become a traditional indicator that further accumulation activities might follow. With speculation around continued investments, Saylor’s commentary reflects an optimistic outlook for potential future buying opportunities. Additionally, Glassnode has provided insights into Bitcoin’s current volatility landscape, revealing that the 1-week realized volatility has dropped to 23.42%, nearing historical…

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Filed under: News - @ February 23, 2025 4:15 pm