Bitcoin’s least risky month ever? BTC worth ends February up 0.03%

Bitcoin (BTC) moved simply 0.03% final month in United State greenback phrases, making February 2023 doubtless its least risky in historical past. 

Knowledge from Coinglass after the month-to-month shut confirms that BTC/USD went virtually nowhere for 4 weeks straight.

Bitcoin month-to-month candle barely leaves a hint

To say that Bitcoin is much less risky than it was is one thing of an understatement relating to February.

Regardless of its ups and downs, largely resulting from macroeconomic knowledge, BTC worth motion completed the month nearly precisely the place it started at round $23,500.

That signifies that Bitcoin was stabler than a raft of mainstream belongings, together with shares, commodities and, after all, main world currencies.

That is no imply feat for cryptocurrency, with Bitcoin typically criticized as a poor retailer of worth owing to its typically intense volatility.

Nonetheless, following January’s 40% positive aspects, bulls held down the fort to protect each final satoshi versus the beginning of the month.

Greater than that, in keeping with the Coinglass figures, no month has come near February 2023 when it comes to stability, making it the least risky month on report.

Bitcoin month-to-month returns chart (screenshot). Supply: Coinglass

For the report, March has already modified the pattern, with BTC/USD up round 2.9% on the time of writing, as per knowledge from Cointelegraph Markets Professional and TradingView.

BTC/USD 1-month candle chart (Bitstamp). Supply: TradingView

Bitcoin worth volatility: All will not be what it appears

By way of intraday strikes, in the meantime, the image on Bitcoin at present appears decidedly completely different.

Associated: BTC worth wants to shut February above 50-month pattern line — Evaluation

As Cointelegraph continues to report, alternate order books reveal a concerted effort to spark volatility from a number of the largest BTC merchants.

On Binance particularly, these “whales” have created a bid wall that has efficiently guided spot worth motion in what monitoring useful resource Materials Indicators calls “manipulated” markets.

“Bitcoin managed to shut February with a inexperienced Month-to-month candle, however IMO nothing for bulls to have fun,” it wrote in considered one of a number of latest tweets on the subject.

An accompanying chart sought to clarify how whales are trying to affect worth motion.

BTC/USD order e-book knowledge (Binance). Supply: Materials Indicators/Twitter

The views, ideas and opinions expressed listed below are the authors’ alone and don’t essentially replicate or symbolize the views and opinions of Cointelegraph.

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