Bitcoin Bollinger Bands squeeze hits new low, analysts predict price may rise

On July 8, a certain analyst stated in a post that "a typical Bitcoin Bollinger Band squeeze is currently observed, with the range between the upper and lower boundaries having dropped to 7.7%, which is one of the lowest values throughout the entire bull run cycle. The decrease in volatility indicates that the market is accumulating energy, and the price is ready to rise. The possibility of a breakout upwards in a rising trend environment is significantly higher. In this bull run, there have been six notable Bollinger Band squeeze events. Among them, four saw an immediate rise after the squeeze, while in the other two cases, there was a slight pullback before continuing to rise. Based on this experience, the current squeeze is very likely to signal another upward sprint, although minor consolidation may occur before the rise is not ruled out."