Despite the broader market crisis induced by the U.S. debt ceiling issue, Bitcoin and commodities, particularly gold and silver, have demonstrated notable performance since the start of 2023.
Graph showing the YTD price of BTC, XAU, and XAG on May 31 (Source: Glassnode)
Over the last 90 days, Bitcoin has recorded a 15.85% increase, outperforming silver’s 12.41% rise and gold’s 6.82% gain.
Graph showing the 90-day performance for BTC, XAU, XAG, and WTI on May 31 (Source: Glassnode)
However, the observed slow and steady returns of Bitcoin should not be misconstrued as an indicator of an impending stable market.
Bitcoin’s monthly realized volatility, a metric reflecting the degree of variation or dispersion of an asset’s returns over a month, has dropped to 34.1%, slipping below the lower limit of the 1-standard deviation Bollinger Band.
Bollinger Bands are a technical analysis tool that plots a set range around an asset’s price, with wider bands indicating higher volatility and
We współpracy z: https://cryptoslate.com/bitcoin-outperforms-commodities-as-market-gears-up-for-high-volatility/
