Bitcoin volatility hit a record
Bitcoin has become more volatile than the Nasdaq and S&P 500, according to Coin, a cryptocurrency data provider Kaiko. Bitcoin’s 20-day volatility fell below that of two stock indices for the first time since 2020, crypto data firm explained on Friday.
“Bitcoin volatility is at a multi-year low, while stock volatility is only at its lowest level since July,” said Clara Madali, head of research at Caico.
He continued: “The stock markets have certainly been fluctuating in the past few months due to high inflation, rising dollar value, rising interest rates, war and the energy crisis.”
Analysts expect the Federal Reserve to raise interest rates by 75 basis points for the fourth consecutive meeting in November. However, San Francisco Federal Reserve President Mary Daly said it is time to consider lowering interest rates.
Data shows that cryptocurrency markets are less reactive to volatile macro events than earlier in the year, while equity markets remain highly sensitive.
In addition, “the gap between Bitcoin and the 30-day and 90-day volatility of stocks has also narrowed since the second half of September, despite Bitcoin’s strong sensitivity to macroeconomic data releases,” Kaikou said on Monday, explaining that Bitcoin is facing a strengthening dollar. And the increase in treasury yield has shown resistance and is traded in a certain range.
The total value of the global market of digital currencies is currently estimated at 923.91 billion dollars, which is 0.61% higher than the previous day. Currently, 39.89% of the total digital currency market is owned by Bitcoin, which has decreased by 0.14% in one day.
The total volume of the digital currency market in the last 24 hours is 32.97 billion dollars, which has decreased by 38.16%. The total volume in decentralized finance is currently $2.63 billion, which is 7.99% of the total 24-hour cryptocurrency market volume. The volume of all stablecoins is now $29.60 billion, which is 89.79% of the total 24-hour cryptocurrency market volume.
Digital currency price update (up to 07:50 EST)
This category contains the price changes of the 10 largest digital currencies in terms of market capitalization.
1- Bitcoin
Price: 19 thousand 201.61 dollars
Price changes in the last 24 hours: 0.01% decrease
Price changes in the last week: 0.24% increase
2- Ethereum
Price: $1312.49
Price changes in the last 24 hours: 0.03% decrease
Price changes in the last week: 1.08% increase
3- Tether
Price: $1.00
Price changes in the last 24 hours: 0.00% decrease
Price changes in the last week: 0.02 percent decrease
4- USD coin
Price: one dollar
Price changes in the last 24 hours: 0.01% decrease
Price changes in the last week: 0.00% increase
5- Binance Coin
Price: $270.52
Price changes in the last 24 hours: 0.03% decrease
Price changes in the last week: 0.59% increase
6- Ripple
Price: $0.4612
Price changes in the last 24 hours: 0.17% decrease
Price changes in the last week increased by 0.53%
7- Cardano
Price: $0.3539
Price changes in the last 24 hours: 0.36% decrease
Price changes in the last week: 2.13% increase
8- Solana
Price: $28.36
Price changes in the last 24 hours: 0.47% decrease
Price changes in the last week: 1.98% increase
9 – Dogecoin
Price: $0.05961
Price changes in the last 24 hours: 0.15% decrease
Price changes in the last week: 0.39% increase
10- Polka dot
Price: $5.86
Price changes in the last 24 hours: 0.22% decrease
Price changes in the last week: 0.95% increase