4 reasons Bitcoin's climb to $16k is such a volatile rollercoaster

The price of Bitcoin hit $16,000 on November 12 and it is exhibiting extreme volatility.

The Balance in Miner Wallets indicator from Glassnode shows the amount of BTC held in addresses of miners declined substantially since October.

"BTC balance in miner wallets seems to have started stabilizing after experiencing a large drop early November. An important metric to observe as #Bitcoin's price battles ~15.9k resistance, a big milestone for heading towards new ATHs.".

The sell-off from miners is causing large volatility in the Bitcoin market because stablecoin inflows show a clear increase in buyer demand.

In past bull cycles, Bitcoin saw several 20% to 30% drops on the way to a new all-time high.

After Bitcoin hit $16,150, which coincided with an increase in deposits from whales, BTC fell nearly 4% within several hours.

16,000 is an important resistance level for Bitcoin.

During a podcast in August 2020, Ark Invest CEO Cathie Wood said that Bitcoin surpassing $13,000 would mark a breakout.

Lack of decisiveness above $16k. Albeit analysts believe Bitcoin would likely hit $20,000 by the year's end, that is a potential 20% gain.

"To be honest, r/r on Bitcoin longs here is so sh*tty I'm starting to think that Bitcoin is close to putting in the high of the year before retracing / consolidating painfully for a few months December should be for alts. Should be".