Noticed that the crypto market is a bit interesting this week — while global stock markets and commodities are volatile, Bitcoin has remained calm. Last weekend, oil prices surged and Asian stock markets plummeted, yet BTC is still holding steady, currently trading around 72.77K, with a 24-hour increase of 0.39%. Mainstream coins like Ethereum and Solana also followed the upward trend, with gains of about 1% and 0.27%, respectively.

I looked at the market volatility data, and Bitcoin’s implied volatility index (BVIV) remains stable around 60%, whereas Wall Street’s VIX index has spiked to high levels. This indicates that traditional markets are indeed in panic, but crypto market participants don’t seem as nervous. The key point is that Bitcoin is now stuck between 60K and 75K; as long as it breaks through these two critical levels, market volatility could increase significantly.

Interestingly, market makers hold large short positions at these two price levels. If the price really breaks through, they might hedge their risks by reversing their positions, which could further drive up volatility. So, this range is definitely a critical point worth watching. For now, the market is still waiting for more signals, especially developments in geopolitical situations and economic data.