Over the past few weeks, the cryptocurrency market has been overwhelmed by a high degree of uncertainty and variability caused by constantly changing global macroeconomics. In this restless state of the market, a bitcoin price from 74,000 to USD 83,000 danced in a few days.
The BTC price dropped at USD 74,000 at the beginning of the last week, when cryptographic investors panicked after the US President Donald Trump announced recent trade tariffs. On Thursday, April 10, the most critical cryptocurrency regained the level of USD 83,000 after President Trump stopped trading tariffs to all countries except China.
Is Bitcoin now a “mature resource”?
The price of bitcoins was quite reactive to virtually every news in global trade, showing the highly unstable state of the cryptocurrency market. However, the analytical expert in the chain explained that the volatility of the current Bitcoin market pales compared to previous episodes.
In the recent post on the Social Media Platform X, Cryptoquant head, Julio Moreno, revealed That the volatility of Bitcoin prices in the ongoing global trade drama was “until now” from other previous events, such as Covid-19 Crash, Terra-Luna, Fall, Downfall FTX and Bank Bank Silicon Valley Bank (SVB).
The price indicator of the price range is an appropriate indicator, which estimates the percentage change in the average weekly Bitcoins price. According to data from Cryptoquant, the range of Bitcoins price increased to the highest level of 72% during the slowdown of the Covid-19 market in April 2020.
Source: @jjcmoreno on X
The above chart shows that the BTC Intraweek indicator increased to 49% after the Terra Luna ecosystem failure in May 2022. Meanwhile, the indicator reached 31% after the fall of the FTX exchange raised by Sam-Bankman at the end of 2022 and SVB Bank.
Along with escalating commercial tensions between the United States and China, the internal record of Bitcoin prices is from 8% to 21%. This reduced variability suggests that the most critical cryptocurrency has matured as a resource, with deeper fluidity and better market structure.
Relatively stable price activities can be associated with the growing base of long -term owners and constant corporate adoption, because institutional players begin to perceive the world’s largest cryptocurrency less as high -risk assets in the world, and more as protection against macroeconomic uncertainty.
Bitcoin price at first glance
In this letter, the price of BTC is about USD 83,700, which reflects an escalate of 5% in the last 24 hours.
The price of BTC returns to above $83,000 on the daily timeframe | Source: BTCUSDT chart on TradingView
Recommended photo from Istock, chart from TradingView
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