Hello everyone, I am Detective Brother!Suddenly, it was like a bull market returning overnight. Last night and this morning (October 23-24), the cryptocurrency market quickly returned, and the Bitcoin market roared up, breaking through the integer level of $36000 in one fell swoop, with a maximum increase of over 15% in 24 hours
Hello everyone, I am Detective Brother!
Suddenly, it was like a bull market returning overnight. Last night and this morning (October 23-24), the cryptocurrency market quickly returned, and the Bitcoin market roared up, breaking through the integer level of $36000 in one fell swoop, with a maximum increase of over 15% in 24 hours. Ethereum was also like riding a boat to break through the waves, hitting the $1800 level in one fell swoop, and the counterfeit currency market also heard the bull dance, and the increase was very surprising. And on this magical night, volatility also jumped up, soaring back to 53.96%.
Let's first understand the indicator of volatility. Simply put, volatility refers to the speed of changes in the price of a certain asset during a certain period of time, which is an indicator that measures the degree of change in asset prices. From historical data, Bitcoin was once a highly volatile asset, but since the second half of this year, the volatility of the Bitcoin market has fallen to a freezing point, with volatility continuously narrowing and dropping to historical lows.
In the past few months, the entire crypto market has been in a state of calm, with trading volumes decreasing daily. Both the daily amplitude range of Bitcoin prices and Ethereum's daily amplitude range are much lower than previous data, resulting in the entire market being in a "low volatility" state, and even liquidity being almost depleted.
But often after low volatility, it is followed by huge price fluctuations. Just as the price has risen this time, under the torment of low volatility, a large number of investors have chosen to withdraw from the crypto market. However, the bull market still returns mercilessly and is full of "bull energy".
Overnight, the price of Bitcoin soared like a rocket, setting the highest increase in nearly half a year, while Ethereum also rose in the wind, breaking the sluggish market situation. Subsequently, there was market leverage liquidation. In just one hour, the entire crypto market had a liquidation volume of approximately $150 million, of which nearly 80% were short positions liquidated.
Overall, volatility can be said to be a "barometer" of the current market situation, and its changes always indicate the next step of the market. And this sudden surge in Bitcoin, accompanied by a bottoming out rebound in volatility, can also be said to have injected a "booster" into the persistently sluggish market.
However, in optimism, one should also see the dangers of the market. We still need to remember the recent pessimistic signals. Various expectations and expectations about "ETFs" have led the entire market to rely on them, but this interdependence is also a source of fear and concern. After several setbacks, the evolution of the Bitcoin market remains unknown.
The cryptocurrency market is always unpredictable and unpredictable. The 'bull market' this time seems to be right in front of us, but the footsteps of the 'bear' are still in our ears. The only thing we can do is to remain cautious and optimistic, and cautiously respond to market fluctuations. Whether it is a bull market or a bear market, as long as we hold hope in our hearts, we will surely overcome difficulties and welcome the dawn.
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