Bitcoin: Sudden Increase in Volatility
According to a report released by Bitfinex Alpha on Monday, the first week of October witnessed a significant surge in Bitcoin's volatility, surpassing the 200-day moving average. The report indicates that this trend mirrors historical patterns where the volatility of major ownership metrics precedes fluctuations in risk assets like Bitcoin and might persist throughout the month.
The report has drawn attention to individual cases of high volatility, such as a more than 340% increase in 24-hour volatility on October 2nd. A similar trend can be observed in the Bitcoin options market, where implied volatility has shattered historical records, reflecting the surge in U.S. stock prices.
Luke Nolan from CoinShares emphasized that upcoming U.S. inflation indices could be another potential catalyst for market volatility. This occurs as oil prices rise following Hamas' attack in Israel, posing a challenge to the Federal Reserve's 2% inflation target.
Despite these fluctuations, the balance between short-term and long-term Bitcoin holders has attempted to keep its price above $27,000. This equilibrium could play a vital role in maintaining stability amid increasing market volatility.
The report has drawn attention to individual cases of high volatility, such as a more than 340% increase in 24-hour volatility on October 2nd. A similar trend can be observed in the Bitcoin options market, where implied volatility has shattered historical records, reflecting the surge in U.S. stock prices.
Luke Nolan from CoinShares emphasized that upcoming U.S. inflation indices could be another potential catalyst for market volatility. This occurs as oil prices rise following Hamas' attack in Israel, posing a challenge to the Federal Reserve's 2% inflation target.
Despite these fluctuations, the balance between short-term and long-term Bitcoin holders has attempted to keep its price above $27,000. This equilibrium could play a vital role in maintaining stability amid increasing market volatility.
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