Bitcoin's Bollinger Bands recently narrowed to an all-time low, suggesting that the market is about to experience a major price swing. Technical analyst Tony Severino pointed out that this "Bollinger Band contraction" phenomenon is usually accompanied by significant price movements and has led to several bull markets in history. For example, after the Bollinger Band contractions in April 2016 and July 2023, the bitcoin price rose significantly. However, the contractions do not indicate the specific direction of the price and can lead to a sharp rise or fall in the price.