Bitcoin – Why BTC’s ‘air gap’ at $117K could spark major market shifts

Key Points

1. Volatility across Bitcoin, gold, and the S&P 500 is near record lows, a condition that historically precedes major market moves.

2. Bitcoin's price structure and rising levels suggest that a break could lead to sharp cross-asset volatility.

3. The 30-day volatility of Bitcoin and the S&P 500 shows 'volatility compression,' which often acts like a coiled spring before major market swings.

4. Bitcoin's recent rally from $110K to $117K left an 'air gap,' which could act as a critical support zone or a potential breaking point.

5. For the third time since 2017, Bitcoin's ratio against energy markets is pressing against a long-term ascending trendline, previously marking major local tops.