Bitcoin's Volatility Persists Amid Uncertainty Over Market Sentiment

The Bitcoin market has been characterized by heightened volatility in recent days, with prices oscillating between $62.5k and $70k.

According to crypto analysts, the current long-term sell-off did not commence in February but rather can be traced back to events in October 2024.

The selling pressure has eased, but a transition to a market-wide reaccumulation phase appears distant, with market sentiment remaining weak.

Anomalous MVRV-Z scores and negative funding rates have contributed to the uncertainty surrounding Bitcoin's price trajectory.