CryptoQuant Analyst: Bitcoin Bollinger Band Squeeze Signals Potential Breakout

Key Points:Bitcoin is showing a Bollinger Band squeeze with a range of just 7.7%, one of the lowest in this bull cycle.Analyst Axel Adler Jr. says this indicates market energy is building for a potential upward breakout.Similar past squeezes in this cycle led to upward moves in 4 out of 6 instances.According to CryptoQuant analyst Axel Adler Jr., Bitcoin’s current technical setup suggests the market is on the verge of a potential breakout. In a report cited by TechFlow on July 9, Adler noted that BTC is undergoing a classic Bollinger Band squeeze, with the volatility range narrowing to 7.7% — one of the tightest compressions seen in the current bull market cycle.Historically, such squeezes often precede strong price movements. Adler pointed out that this is the sixth Bollinger Band squeeze in the ongoing cycle. Of the previous five, four resulted in immediate upside, while two saw brief corrections before continuing their upward trajectory."The market appears to be accumulating energy," Adler stated. "While some short-term consolidation is possible, the odds favor an upward price breakout in the near future."Bitcoin is currently trading just under $109,000, within range of its all-time high. Technical signals like this may support bullish sentiment among traders as volatility compresses and liquidity builds.