Bitcoin's volatility exceeds the levels seen at the new highs in March, which may serve as a catalyst for breaking out of the consolidation phase

ChainCatcher message, Bitcoin's volatility has exceeded the levels of March (when Bitcoin reached its all-time high) and continues to rise, with traders believing this could be the catalyst needed for Bitcoin to finally break out of its consolidation phase.

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

According to data from CoinGlass, on August 21, the historical volatility chart indicator for Bitcoin reached 3.42%, surpassing the 3.00% recorded on March 13, when Bitcoin hit its historical high of $73,679.