Market Cap
24h Vol
6566
Cryptocurrencies
51.43%
Bitcoin Share

Bitcoin Volatility Spikes as JP Morgan Issues US Recession Warning

Bitcoin Volatility Spikes as JP Morgan Issues US Recession Warning


CryptoIntelligence
2024-08-13 02:34:00

On August 12, Bitcoin experienced a sharp spike in volatility, initially dropping 3.2% to $57,844 in under an hour before rebounding by 5% to reach $60,700 within the next thirty minutes. This sudden price swing reflects the uncertainty in the macroeconomic environment, particularly following remarks from a U.S. Federal Reserve governor over the weekend. These comments also contributed to a surge in gold prices, which climbed to $2,458, just 1% below its all-time high. The potential for an economic downturn poses the biggest risk for a Bitcoin price crash. Traders are now questioning whether Bitcoin might retest its August 5


Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.