According to ChainCatcher, CryptoQuant's research shows that Bitcoin will continue to experience range fluctuations. Analyst Percival pointed out that Bitcoin's 14-day volatility index (CI) is in the early zone, showing a correction trend during consolidation.
As of press time on December 7, the daily CI measurement is 56.7, the highest level since mid-August. Higher CI values indicate more volatile market conditions, while lower values indicate that the market is trending upward or downward.
Percival said that by looking at the actual price of short-term Bitcoin holders, it is possible to predict strong resistance levels that the market may encounter. The first resistance level is $110,000 (+1.5sd), and $120,000 has a very large psychological and emotional impact.
