Despite the US Bitcoin reserve executive order being in place, the recent crypto decline has pushed Bitcoin’s price volatility to its highest level of the year as of last Monday.
Bitcoin Market Trends
Bitcoin briefly fell below $80k today. However, at the time of writing, Bitcoin is trading at $81,190 after a decline of over 5%.
Bitcoin Market Trends
The market cap has reached $1.61 trillion, reflecting a decline of 5.72%. The 24-hour market volume of BTC, however, has witnessed a surge of over 88%, reaching $33.28 billion. The significant fluctuations in numbers within a few hours are an underlying reflection of the growing volatility in Bitcoin’s prices. Since Bitcoin’s annualized volatility hit 59.4% on Monday, it has stabilized at around 58%. The volatility experienced in the past week is reportedly the highest since December of last year.
Unlike in December 2024, when Bitcoin’s price surged amid market expectations of a pro-crypto Trump administration, the price of Bitcoin has continued to fall in recent weeks, dropping by more than 15% in the past month.
This recent volatility followed the signing of an executive order by Trump to establish a strategic Bitcoin reserve and his meeting with top leaders in the digital asset space at a “Crypto Summit.” Among those in attendance were Michael Saylor, Coinbase CEO Brian Armstrong, and Kraken co-CEO Arjun Sethi.
Trump’s ‘crypto czar’ David Sacks stated that the US would not sell the 200,000 Bitcoins held in the reserve but would instead treat them as a ‘digital Fort Knox’ (i.e., the national strategic reserve).
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