Bitcoin ( BTC ) filled the CME futures gap just before Wall Street opened on Feb. 14, climbing to $42,870.
Trader: Volatility over for now
Data from Cointelegraph Markets Pro and TradingView shows that BTC/USD surged higher on Feb. 14. At the start of US trade, the pair held steady around $42,500.
The weekly close of February 13th disappointed analysts as Bitcoin failed to make a higher high on the weekly chart.
Although there was no volatility on the day, a trend reversal is now being discussed in the coming days.
“Well, volatility has come down on bitcoin. Expect a tough week where volatility is likely to bounce back quickly as EU stock markets also cater for that,” Cointelegraph contributor Michaël van de Poppe tweeted .
With stock markets barely moving and tensions surrounding the situation between Russia and Ukraine easing somewhat due to an impending renewed talk, trading opportunities in the crypto market were scarce.
Order book volume also highlighted the tight range that BTC/USD is trading in in the short-term.
"Daily OBV shows strong buyer reaction at the lows and strong rejection at the highs," according to popular Twitter account Nebraskan Gooner.
"That means we have strong forces on both sides. That could mean we're going to stay here for a while."
$100,000 only in 2023?
The inventor of the stock-to-flow model PlanB is confident that Bitcoin will reach the magic mark of $100,000 next year.
Earlier, PlanB, who came under fire after BTC's relatively lackluster fourth-quarter performance, admitted that the first two years of the current halving cycle have not performed as expected.
Even with the big altcoins, things have remained rather quiet. In the last 24 hours they have hardly moved.
Ether ( ETH ) remains flat at $2,940, while Ripple ( XRP ) is down just 3 percent compared to February 13 .
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