Despite Trump's launch of the Bitcoin strategic reserve plan, the volatility of Bitcoin still reached its highest level of the year
According to The Block, market anxiety has continued since Bitcoin's volatility reached its highest level of the year last Monday. According to data from The Block's dashboard, since Bitcoin's annualized volatility reached 59.4% on Monday, it has basically stabilized at about 58%. The volatility experienced in the past week is the highest level since December last year.
However, unlike December last year when Bitcoin prices were continuously rising due to market expectations for a crypto-friendly Trump administration, in recent weeks, Bitcoin prices have been falling continuously and have fallen by more than 15% over the past month.
The recent fluctuations in Bitcoin occurred after Trump signed an executive order aimed at establishing a strategic reserve of Bitcoins and meeting with top leaders in the digital asset field at a crypto summit. This executive order requires a comprehensive audit of digital assets held by the federal government, including approximately 200 thousand bitcoins (worth about $17 billion at signing). David Sacks, Trump’s “crypto czar,” stated that America will not sell off its bitcoin reserves but instead treat them as a digital version of Fort Knox (i.e., national strategic reserves).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BUZZ - Australia's Stakk shares surge due to IBM software contract
On October 5th, Stakk (SKK.AX) shares rose as much as 26.1% to AUD 0.029, marking the largest intraday gain since September 29. The digital trust technology company announced that IBM will use its AI-driven document processing and verification software under a contract. The software will be deployed across Australia and New Zealand. The initial contract term is one year and will immediately generate revenue for the company. Including today's trading, the stock has declined 30.3% so far this year.
The Japanese Yen firms on a BoJ speech about AI and gives it all back
OpenAI reportedly in talks with UAE capital for $30 billions financing; multiple funds may form a consortium to invest up to $10 billions
According to sources familiar with the matter, OpenAI is in funding talks with several UAE investment funds, including Abu Dhabi’s MGX, in hopes that they will become key investors in a new funding round of at least $30 billions.
Will the 30-year yield break 6% this month? Economic resilience and inflation pressures drive rates higher, further intensifying the sell-off in US Treasury bonds
U.S. Treasury bonds faced another round of sell-offs on Monday, pushing long-term yields to their highest levels in decades.
Crypto prices
More
