Analyst: BTC forming quiet bottom at $60K as volatility drops

CoinDesk Senior Analyst James Van Straten said on X that Bitcoin appears to have formed a bottom around the $60,000 level, with funding rates remaining negative and showing signs of a potential short squeeze. He explained that the Implied Volatility (IV) index suggests Bitcoin has already begun its bottoming process. Van Straten noted that while past market lows were often accompanied by sharp increases in IV, volatility is now declining over time despite various geopolitical events. He added that if IV continues to fall regardless of price, it would signal that demand is increasing without panic.