According to ChainCatcher, Bitcoin's volatility has exceeded the level in March (when Bitcoin hit a record high) and continues to rise, and traders believe this may be the catalyst needed for Bitcoin to finally break out of the consolidation phase.

But to trigger a rebound, Bitcoin must first stay above $61,000 and successfully retest the $62,000 level, a level that Bitcoin has not touched since August 9.

According to CoinGlass data, on August 21, the Bitcoin historical volatility chart indicator reached 3.42%, exceeding the 3.00% on March 13, when Bitcoin reached a record high of $73,679.