Aside from a few more substantial moves of several thousand dollars in 24 hours or so, bitcoin’s price actions have been largely muted for months. The cryptocurrency remains sideways between $58,000 and $65,000 with little to no indication of a potential breakout.

Now, though, Ali Martinez outlined a historical pattern that has led to significant volatility. The question is: will history repeat?

More Volatility Coming Soon?

Let’s be honest – a lot of us got addicted to BTC’s infamous price volatility. While some critics viewed it as a major negative selling point, others entered the cryptocurrency ecosystem because of it, as it just tends to make life more interesting. Without it, bitcoin and the entire market just feel unnatural. In fact, CryptoQuant’s CEO recently argued that boredom is BTC’s biggest risk, not another price crash.

Martinez told his over 165,000 followers on X that this apparent ongoing stagnation could finally change soon. He based this prediction on historical bitcoin performance after the movement of dormant BTC.

“A significant amount of dormant Bitcoin (BTC) has moved on-chain over the past 24 hours. Historically, spikes in old coins changing hands often precede major market moves,” he added in

BTC experienced some volatility in the middle of the week, when it surged from under $62,000 to $65,500 within a day after the lower-than-expected US CPI data for June. However, this is just a drop in a big bucket, as its more macro performance has been quite sluggish.

Meanwhile, another popular analyst, Kaleo, suggested that this expected volatility could take place as early as today or tomorrow:

“Think we see a nice little weekend pump from Bitcoin and ETH this weekend.”

$65K Breakout Next as BTC Is Doing Fine?

Michaël van de Poppe also weighed in on bitcoin’s recent performance, noting that the asset “looks fine, still” as long as it remains above $60,000-$61,000. However, the definitive confirmation of a more positive trend would be a decisive break above $65,000.

In a follow-up post, the analyst outlined a “great chart of bitcoin” that looks “primed for a breakout upwards.” He doubled down on the importance of the $65,000 resistance, which he believes will be taken down next week.

Source: CryptoPotato