CryptoQuant Analyst: The current BTC Bollinger Band squeeze shows that the market is poised for a move, with a significantly higher probability of an upward breakout.

According to a report from 深潮 TechFlow on July 8, CryptoQuant analyst Axel Adler Jr stated that the current market is experiencing a typical Bollinger Band squeeze, with the range between the upper and lower bands decreasing to 7.7%, one of the lowest values in this bull run cycle. The analyst indicated that this decrease in volatility suggests that the market is accumulating energy, with prices ready to enter the pump phase, and in an upward trend environment, the likelihood of a breakout is significantly higher.

Axel pointed out that there have been six notable Bollinger Band squeezes in the current bull run cycle. Four of these squeezes were followed immediately by price increases, while the other two experienced slight adjustments before resuming growth. Based on these experiences, the current squeeze state is likely to signal another wave of upward momentum, although there may be slight consolidation beforehand.