Bitcoin volatility has compressed to 40 this cycle, down from 60 last cycle and 80 the one before, according to Jim Ferraioli, Schwab's Director of Crypto Research.

Ferraioli noted BTC remains calm despite the recent bear market because strong momentum in AI and equities continues to pull capital away, while Schwab clients now account for 20% of all spot bitcoin ETF assets.

Price action on the 4h chart shows BTC at $61693.06 trading inside the Bollinger bands with upper resistance at $64439.06; the EMA50 at $64760.18 acts as immediate overhead resistance while the EMA200 at $71905.06 caps longer-term upside, and the neutral RSI at 39.76 paired with the MACD golden cross suggests consolidation before the next directional move.