02 Apr

Last Monday, Bitcoin's annualized 30-day historical volatility reached around 60%, more than ten percentage points more than ether's 30-day realized volatility. 

Data from Paris-based Kaiko shows that this is the largest differential in volatility spread in at least a year. The degree of price volatility that has been seen during a certain period can be inferred from historical volatility.

An important occasion that comes around every four years is the impending half of the Bitcoin network reward. It will result in a 50% reduction in the pace of Bitcoin emissions every block, which could raise market volatility.

This event, which is set on April 21, will lower the reward given to miners for each block from the current 6.25 BTC to 3.125 BTC. The market capitalization of all cryptocurrencies combined is currently $2.69 trillion, up 1.63% over the last day.

The S&P 500 finished the day with a 0.2% decline, closing at 5,243.77. In the meantime, the Nasdaq Composite closed at 16,396.83, gaining 0.11%. In parallel, traders raised concerns about a possible slowdown in the market surge and evaluated fresh U.S. inflation data at the start of the second quarter, which resulted in a decline in the Dow Jones Industrial Average.
Investors are monitoring how the Federal Reserve plans to lower interest rates in order to achieve its 2% inflation target.

Jerome Powell, the chair of the Federal Reserve, said on Friday that the economy is doing well and that inflation is still higher than desired. 

Treasury yields rose on Monday in response to Powell's remarks and an important inflation index. The yield on the 10-year Treasury increased by about 13 basis points to 4.319%.

Analyst Notes: According to Michael Van de Poppe, a cryptocurrency analyst, Bitcoin is presently steadily consolidating. He says that on smaller time frames, the key levels to watch are $67K, which needs to hold as support, and $71.7K, which might trigger a last breakout towards the all-time high.

Keith Alan, an analyst, observed that bid liquidity was rising and approaching $60,000. 

"Despite the history-making the 7th consecutive green monthly close for BTC, there is no ‘up only' to the Halving," a portion of a post stated.

According to economist and analyst Alex Krüger, Bitcoin may soon hit new all-time highs. Krüger believes that the daily charts for cryptocurrencies are showing extremely bullish patterns, which leads him to believe that Bitcoin is about to rise to new all-time highs. "Expecting Bitcoin ATHs (all-time highs) soon," he said.

April 2024, Cryptoniteuae

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