Bitcoin is now less volatile than S&P 500 and Nasdaq
A rare 2% daily loss for the U.S. dollar index gives Bitcoin and stocks an opportunity for gains, but BTC still undercuts the rest on volatility. Bitcoin held gains above $21,000 into Nov. 5 as the U.S. dollar posted a rare major daily decline. BTC/USD building on prior strength to hit highs of $21,473 on Bitstamp — a new seven-week high.
The pair had benefited from the latest United States economic data, while the dollar conversely suffered. The U.S. dollar index (DXY) lost 2% in a day for the first time in years, helping fuel a risk asset rally. BTC had previously become notorious for its lack of volatility and narrow trading range, helping it beat even stocks for the first time ever. “For the first time in history, bitcoin is less volatile than both the S&P 500 and Nasdaq.
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