BTC volatility index records 62.37, the highest in 3 months
"BTC price will fluctuate more depending on the election results"
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Cryptocurrency expert 'Dan Crypto Trades' predicted on his X account on the 4th that "depending on the election results this week, is likely to move more than 10% in either direction".
The price volatility of recorded the highest level in 3 months on the 3rd. The Cryptocurrency Volatility Index (DVOL) provided by the cryptocurrency exchange Deribit recorded 62.37 on the 4th, setting a new high since August this year.
actually broke through $73,000 last week based on the record inflow of spot exchange-traded funds (ETFs) in the US, and attempted to set a new high. However, it plummeted based on the liquidation of long bets in the futures market, falling to $67,800 on the 4th.
It is analyzed that the sharp rise and fall of will further intensify after the US presidential election.
Tony Sycamore, an IG Market analyst, wrote in a report released on the 4th that " needs to break through the $74,000 level to surge rapidly towards $80,000".
Both inside and outside the market, the price fluctuation of is being predicted according to the political tendencies of the two candidates. Former President Trump has declared himself a 'pro-cryptocurrency' candidate since the early primaries, while Vice President Harris has recently announced a cryptocurrency policy.
Global bank Standard Chartered has forecast the price trend of according to the US presidential election in its own report.
The report said "the price of will reach around $73,000 by November 5, the US presidential election day, and if former President Trump is re-elected, can rise about 10% by the end of this year", and "if Vice President Harris is elected, the price of will trade lower for a while, but will record $75,000 by the end of the year".
Reporter Kwon Seung-won ksw@blockstreet.co.kr
