Share this article
Bitcoin Likely to Hold in a Tight Range
One measurement of bitcoin’s volatility has declined 76% this year. Veteran trader Peter Brandt told CoinDesk TV that bitcoin investors are “just tired.”
Updated Oct 24, 2022, 9:04 p.m. Published Oct 24, 2022, 8:48 p.m.
Veteran trader Peter Brandt told CoinDesk TV on Friday that bitcoin is likely to remain in a tight range for a while, and could even plunge to $13,000 support before rallying to new highs.
Finding a counter-argument to Brandt’s analysis is difficult. Bitcoin has been trading in a narrow range, and a catalyst to send the largest cryptocurrency by market capitalization higher has yet to emerge. Volatility for the largest cryptocurrency by market cap has dissipated substantially.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin’s Average True Range (ATR), a measurement of overall price volatility, has declined 76% year to date, and sits at levels last seen in November 2020.
The price of BTC have declined 60% over the identical time frame, highlighting the slow, tedious grind lower for BTC.
BTC has exhibited far less volatility than the S&P 500 (SPX) and Nasdaq Composite, whose ATRs by comparison have increased 64% and 19% year to date, respectively.
BTC momentum remains decidedly neutral as its RSI (Relative Strength Index) sits at 48.
BTC also appears to be trading right along an area of support, which will vary depending on your method of calculation.
Visually, BTC support appears to have formed around $18,900. Looking at price points, and taking volume at those prices into account implies a slightly higher support level at around $19,300.
Brandt identified support levels close to $18,000, but would not be surprised if BTC traded past $17,000 to as low as $13,000 in a “final panic.”
A 32% decline from current prices, would likely stem from a significant negative catalyst. Still, investors would be prudent to consider all options, particularly as we’ve declined by twice that in 10 months.
A look at BTC options open interest by strike price also implies support at $18,000 given the accumulation of call options at the $18,000 strike price. A similar level of call options exists at the $18,500 strike price, while the number of put options begins to exceed calls at $18,750.
While BTC may not intrigue investors looking for short-term gains, its low volatility and limited price action will be attractive for others with long-range goals.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Federal Reserve Cuts Rates 25 Basis Points, With Two Members Voting for Steady Policy
The anticipated move comes as policymakers are still operating without several key economic data releases that remain delayed or suspended due to the U.S. government shutdown.
What to know:
- As expected, the Federal Reserve trimmed its benchmark fed funds rate range by 25 basis points on Wednesday afternoon.
- Today's cut is notable given the unusually large amount of public dissension among Fed members for further monetary ease.
- Two Fed members dissented from the rate cut, preferring instead to hold rates steady, while one member voted for a 50 basis point rate cut.
Top Stories
