Price and volatility
Recent volatility aligns with an increase in risk expectation: there is
a growing separation between the implied volatility of$BTC vs the volatility of the traditional market (VIX), suggesting possible sharp movements.
Market context and sentiment
Recently, several drops have been reported, indicating a certain pullback.
In recent weeks, the crypto market has suffered massive liquidations, adjusted to a more adverse macroeconomic context.
The recent pullback has raised doubts regarding a 'bullish' year-end close for Bitcoin — some voices in the market estimate that the recovery to high levels may feel less likely.
External factors influencing the current market
The recent drop in price is linked to a wave of selling in the crypto market, massive liquidations of leveraged positions, and a macroeconomic environment with lower risk appetite.
Institutions and major players (such as funds or companies with holdings in BTC) are reevaluating their exposure — decisions in this area can create additional pressure on the price.
Nevertheless, some analysts and banks project a significant rebound: for example, recent estimates see Bitcoin reaching levels of approximately $170,000 in the next 6-12 months.
