No products in the cart.
- Latest
- Trending
ADVERTISEMENT
Bitcoin (BTC) is on a downtrend in volatility realized in the third quarter, according to the latest report on metrics from crypto intelligence and research firm Messari.
Benchmark cryptocurrencies recorded lower volatility as the cryptocurrency rebounded slightly from its June lows, according to the research platform.
So while BTC fell below $20,000 again in September, the recovery from June’s $17,600 level and the retesting of key resistance near $25,000 in mid-August were key.
“Bitcoin saw a downward trend in volatility as it gradually recovered in the third quarter. In August his average 30-day volatility was 60% and in June he was over 80%.Messari’s Sami Kasab and Kuna Goel Bitcoin State in Q3 2022 report.
BTC volatility chart showing downtrend in Q3.Source: Messari
The broader crypto market saw a significant drop in liquidations during the period due to low volatility for the world’s largest cryptocurrency by market capitalization, analysts added. For example, long liquidations totaled him $5 billion in August, down more than 50% from his $10.8 billion recorded in June.
Total short sales fell to $3.5 billion last month compared to $6.6 billion in June.
Messari said Bitcoin was trading more like a tech stock as it tracked the Nasdaq 100 (rebase) as cryptocurrency prices seesawed this quarter.
This reflected corruption dating back to late 2021, as well as a three-month rise in Federal Funds rates.
“In the quarter, the average correlation between Bitcoin and the Nasdaq 100 was 0.6 as inflation and rate hikes dominated the narrative. Surprisingly, the correlation between digital gold and physical gold is much lower. The quarterly average correlation between the two assets was 0.2. Kasab and Goel wrote.
Overall, in the third quarter, amid the bear market crash that caused a decline of more than 72% from its 2021 all-time high, Bitcoin has basically seen two main narratives: as an inflation hedge and as a store of value asset. ).
Bitcoin is trading around $18,910 on Sunday afternoon, down about 6% and 13% over the past 7 and 30 days respectively.
Bitcoin (BTC) is on a downtrend in volatility realized in the third quarter, according to the latest report on metrics from crypto intelligence and research firm Messari.
Benchmark cryptocurrencies recorded lower volatility as the cryptocurrency rebounded slightly from its June lows, according to the research platform.
So while BTC fell below $20,000 again in September, the recovery from June’s $17,600 level and the retesting of key resistance near $25,000 in mid-August were key.
“Bitcoin saw a downward trend in volatility as it gradually recovered in the third quarter. In August his average 30-day volatility was 60% and in June he was over 80%.Messari’s Sami Kasab and Kuna Goel Bitcoin State in Q3 2022 report.
BTC volatility chart showing downtrend in Q3.Source: Messari
The broader crypto market saw a significant drop in liquidations during the period due to low volatility for the world’s largest cryptocurrency by market capitalization, analysts added. For example, long liquidations totaled him $5 billion in August, down more than 50% from his $10.8 billion recorded in June.
Total short sales fell to $3.5 billion last month compared to $6.6 billion in June.
Messari said Bitcoin was trading more like a tech stock as it tracked the Nasdaq 100 (rebase) as cryptocurrency prices seesawed this quarter.
This reflected corruption dating back to late 2021, as well as a three-month rise in Federal Funds rates.
“In the quarter, the average correlation between Bitcoin and the Nasdaq 100 was 0.6 as inflation and rate hikes dominated the narrative. Surprisingly, the correlation between digital gold and physical gold is much lower. The quarterly average correlation between the two assets was 0.2. Kasab and Goel wrote.
Overall, in the third quarter, amid the bear market crash that caused a decline of more than 72% from its 2021 all-time high, Bitcoin has basically seen two main narratives: as an inflation hedge and as a store of value asset. ).
Bitcoin is trading around $18,910 on Sunday afternoon, down about 6% and 13% over the past 7 and 30 days respectively.
