Bitcoin is currently experiencing low volatility, reminiscent of its price breakout in 2023, with a significant round-number level at $100,000 attracting attention. As of January 23, Bitcoin has been trading within a narrow range of $90,000 to $110,000 for over two months, a behavior noted as unusual by onchain analytics platform Glassnode. Historically, such tight trading ranges often precede significant price movements. In analyzing 60-day price ranges, it was observed that the last similar restriction occurred in October 2023, which led to a surge from $30,000 to $42,000 by the end of December, marking a 40% increase. Furthermore, 20% of Bitcoin's supply is concentrated within ±15% of the current price, indicating that minor price shifts can greatly influence investor profitability, thus heightening market volatility. The current 60-day range of 19% is a rare occurrence, having only been seen five times since 2019. Bollinger Bands further highlight this unusual period of consolidation, signaling potential breakout conditions ahead.

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