{"id":22056,"date":"2023-03-01T08:23:24","date_gmt":"2023-03-01T16:23:24","guid":{"rendered":"https:\/\/coinnetworknews.com\/bitcoins-least-volatile-month-ever-btc-price-ends-february-up-0-03\/"},"modified":"2023-03-01T08:23:24","modified_gmt":"2023-03-01T16:23:24","slug":"bitcoins-least-volatile-month-ever-btc-price-ends-february-up-0-03","status":"publish","type":"post","link":"https:\/\/coinnetworknews.com\/bitcoins-least-volatile-month-ever-btc-price-ends-february-up-0-03\/","title":{"rendered":"Bitcoin’s least volatile month ever? BTC price ends February up 0.03%"},"content":{"rendered":"
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Bitcoin (BTC<\/a>) moved just 0.03% last month in U.S. dollar terms, making February 2023 likely its least volatile in history.\u00a0<\/p>\n

Data from Coinglass<\/a> from after the monthly close confirms that BTC\/USD went practically nowhere for four weeks straight.<\/p>\n

Bitcoin monthly candle barely leaves a trace<\/h2>\n

To say that Bitcoin is less volatile than it was is something of an understatement when it comes to February.<\/p>\n

Despite its ups and downs, mostly due to macroeconomic data<\/a>, BTC price action finished the month almost exactly where it began at around $23,500.<\/p>\n

That means that Bitcoin was more stable<\/a> than a raft of mainstream assets, including stocks, commodities and, of course, major world currencies.<\/p>\n

This is no mean feat for cryptocurrency, with Bitcoin often criticized as a poor store of value owing to its sometimes intense volatility.<\/p>\n

Nonetheless, following January\u2019s 40% gains<\/a>, bulls held down the fort to preserve every last satoshi versus the start of the month.<\/p>\n

More than that, according to the Coinglass figures, no month has come close to February 2023 in terms of stability, making it the least volatile month on record.<\/p>\n

Bitcoin monthly returns chart (screenshot). Source: Coinglass<\/em><\/figcaption><\/figure>\n

For the record, March has already changed the trend, with BTC\/USD up around 2.9% at the time of writing, as per data from Cointelegraph Markets Pro<\/a> and TradingView<\/a>.<\/p>\n

BTC\/USD 1-month candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n

Bitcoin price volatility: All is not what it seems<\/h2>\n

In terms of intraday moves, meanwhile, the picture on Bitcoin currently looks decidedly different.<\/p>\n

Related:\u00a0<\/strong>BTC price needs to close February above 50-month trend line \u2014 Analysis<\/strong><\/a><\/em><\/p>\n

As Cointelegraph continues to report<\/a>, exchange order books reveal a concerted effort to spark volatility from some of the largest BTC traders.<\/p>\n

On Binance specifically, these “whales” have created a bid wall which has successfully guided spot price action in what monitoring resource Material Indicators calls “manipulated” markets.<\/p>\n

“Bitcoin managed to close February with a green Monthly candle, but IMO nothing for bulls to celebrate,” it wrote<\/a> in one of several recent tweets on the topic.<\/p>\n

An accompanying chart<\/a> sought to explain how whales are attempting to influence price action.<\/p>\n

BTC\/USD order book data (Binance). Source: Material Indicators\/ Twitter<\/em><\/figcaption><\/figure>\n

The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n