Fundstrat Warns of Impending 30% Bitcoin Price Swing

Wall Street research firm Fundstrat Global Advisors is warning that Bitcoin's price may be due for a significant swing, either up or down. According to Sean Farrell, head of cryptocurrencies at the firm, Bitcoin's recent low volatility has reached historic lows.

The median price move over the following 60 days in eight episodes of similarly low volatility was 30.2%, with four instances ending in gains and four in losses. Fundstrat did not predict a specific direction for the next price move but noted that it would be significant, either to $83,200 or down to $44,800.

The current price of Bitcoin is around $64,000 U.S., making a 30% swing a possible scenario in the coming months. Rising bond yields and continued inflation are also risks facing Bitcoin's value right now.