Headline: Волатильность биткоина падает, привлекая внимание институциональных инвесторов Translation: Bitcoins volatility decreases, attracting institutional investors attention

On December 3, the price of the leading cryptocurrency rose to approximately $93,800, recovering losses after a decline. Analysts from Glassnode and Fanara Digital explained the positive trend as a result of a record inflow of funds and decreased volatility.

At the time of writing, Bitcoin’s price stands at $92,200 (+4.5% over the past day).

Since the lows of 2022, digital gold has attracted over $732 billion in net capital. Experts have noted that the current phase (2022-2025) in terms of inflows has surpassed all previous ones.

The realized market capitalization of the asset has reached $1.1 trillion. The peak price during this period was $126,000 (on October 6), followed by a 36% correction. However, on-chain analysis indicates a lack of signs suggesting a prolonged bear market.

Long-term volatility of Bitcoin has decreased nearly by half — from 84.4% at the peak in 2021 to the current 43%. Analysts have linked this calm in the market to the entrance of institutional investors and the launch of regulated instruments.

Since approval in January 2024, spot Bitcoin ETFs have accumulated 1.36 million BTC. The value of assets under management in these funds is $168 billion — roughly 6.9% of the market supply of coins.

According to the report, bear markets typically begin with an increase in volatility and a decrease in liquidity. Currently, the opposite is observed: a structural reduction in price fluctuations indicates that the asset is transitioning into the institutional category.

For the rally to continue, Bitcoin needs to solidify its position above the $93,000 mark. According to Glassnode, significant volumes are concentrated in this area for short position liquidations, which could provide upward momentum.

Timothy Misir, head of research at BRN, explained that the rise is due to forced purchases as shorts are liquidated above $93,000. Order books on exchanges indicated an accumulation of liquidation levels precisely in this zone.

«Liquidation clusters are active. Forced position closures intensify movements and increase short-term volatility,» noted the expert.

A trader known as DaanCrypto also emphasized the necessity of holding above the $93,000 level.

In his view, turning resistance into support would clear the way towards the $97,000-98,000 range.

Let’s remember, in December, an analyst using the nickname CoinCare pointed out a signal for the continuation of the bull market, while QCP Capital stated that the sector is in a «pause mode.»