**Bitcoin Set for Major Move as Volatility Indicator Tightens**

Bitcoin traders are on high alert as a key volatility indicator, the Bollinger Bands, has reached its tightest point in a year. Analyst Matthew Hyland noted that this squeeze suggests a significant price move is imminent, potentially within the next month.

Other traders, like MaxBecauseBTC, highlighted that such tightness has only been seen twice before, in April 2016 and August 2023. Kristoph Jeffers from Three Jay Partners also pointed out the unusual tightness of the weekly Bollinger Bands compared to the daily ones.

Bitcoin has been consolidating within a narrow range since March, but Hyland believes this phase is nearing its end. Historically, longer consolidation periods lead to larger expansions. Bitcoin's current price of $63,845 could surge to a new all-time high if history repeats itself, as it did with a 20% rise from July to November 2023.

Traders should stay vigilant as Bitcoin appears poised for an explosive move soon.