$BTC Bitcoin (BTC) tested $66,000 during the Asian trading hours on Friday, as market observers expect the leading cryptocurrency to face more volatility ahead.

“Bitcoin remains volatile with the drawdown of 10% we saw this week, with the recent catalyst being driven by spot bitcoin ETF outflows from GBTC of about 300mm on March 20,” Semir Gabeljic, Director of Capital Formation at Pythagoras Investments, said in an email interview.

“The drawdown still remains in line with the expected range of 10-20% as we’ve seen historically that happens right before the BTC halving event. More volatility is expected to come going into the BTC halving,” he continued.

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