Bitcoin Volatility Spikes as JP Morgan Issues US Recession Warning

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