According to a report by crypto trading platform Bitfinex, Bitcoin's historical 24-hour volatility spiked since the start of October.
According to a report by crypto trading platform Bitfinex, Bitcoin’s historical 24-hour volatility has spiked since the start of October.volatility has been a hot subject of discussion in 2023. With values plummeting to historically low levels, a dramatic shift in investors’ sentiment has been observed for an asset that was known outside crypto circles for its wild swings.In fact, as indicated below, the daily historical volatility held above a 200-day exponential moving average.
For the uninitiated, historical volatility reflects the past price movements of a particular asset, while implied volatility gauges future expectations of price movements based on the prices of options contracts.Another notable aspect of Bitcoin’s price movement in October was its decoupling from the equities market.
According to IntoTheBlock, the 30-day correlation coefficient between Bitcoin and major stock indices like the Nasdaq 100 and S&P 500 dropped to -0.3 and -0.5. Put simply, the stock market and the Bitcoin market moved in opposite directions.These findings were aptly reflected in the price trajectory of the assets in the question. For much of the last two months, Bitcoin experienced more pronounced drops as compared to the U.S. stock market.
Moreover, BTC hit the bottom of its range earlier than the S&P 500 index. Historically, the two financial instruments moved in the same wavelength.Aniket is a full-time journalist at AMB Crypto. With experience in news publishing and content management, he is now increasingly tangled up in the web of cryptocurrencies and blockchains. His focus lies on the intersection between cryptos and traditional finance.
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