The volatility of Bitcoin exceeds the level of March's new high, which may be a catalyst for breaking through the consolidation phase

The volatility of Bitcoin has surpassed the level in March (when Bitcoin hit a historical high) and continues to rise. Traders believe this could be the catalyst needed for Bitcoin to finally break through its consolidation phase.

However, to trigger a rebound, Bitcoin must first maintain above $61,000 and successfully retest the $62,000 level, which is a level that Bitcoin has not touched since August 9th.

According to data from CoinGlass, on August 21st, the historical volatility index of Bitcoin reached 3.42%, surpassing the 3.00% on March 13th when Bitcoin reached a historic high of $73,679.