Bitcoin Steady Above $9.2K as ‘Volatility Collapse’ Predicts Big Move

Bitcoin (BTC) continued its downtrend on Nov. 7, barely keeping support above $9,200 as market commentators stay realistic about the future.

Cryptocurrency market daily overview. Source: Coin360

“Much bigger” BTC price move could come this week

Data from Coin360 shows BTC/USD down 1.6% on the day, circling $9,250 after a sudden dip saw markets bounce off $9,200.

That level has been in play for the past 72 hours and has seen two tests since local highs of $9,520 on Monday. 

The week’s behavior continues a broader trend which Cointelegraph reported on previously — Bitcoin remains range-bound between $9,000 and $9,500.

Bitcoin seven-day price chart. Source: Coin360

Now, commentators are considering the potential for a change in the pattern as volatility lessens. For Jim Wyckoff of gold outfit Kitco, that watershed could appear before the end of the week.

“Recent price action has choppy, quiet and sideways. This ‘collapse in volatility’ suggests a much bigger price move is…