Bitcoin settled for over $70,000 in Asian trading today after a week of wild price volatility.
This relative calm is in stark contrast to the wild swings the market witnessed last week, with Bitcoin falling to $60,000 on Thursday, its lowest level since October 2024, before climbing above $70,000 last Friday.
falling from the top
Extreme volatility is nothing new for cryptocurrencies, but Bitcoin’s fall from its all-time high of $126,000 last October comes despite a supportive political environment and increasing institutional adoption for cryptocurrencies in the United States.
Its failure to serve as a safe haven during times of geopolitical tensions has called into question its consideration as “digital gold.”
Bitcoin steadied above $70,000 in Asian trading today after a week of wild price volatility.
This relatively calm situation is in sharp contrast to the wild swings experienced by the market last week, when Bitcoin plummeted to $60,000 on Thursday, its lowest level since October 2024, before climbing back above $70,000 last Friday.
decline from peak
Extreme volatility is nothing new for cryptocurrencies, but Bitcoin has fallen from its all-time high of $126,000 last October, despite a more supportive political environment for cryptocurrencies and increased institutional adoption in the United States.
Additionally, its status as “digital gold” has been called into question as it has failed to serve as a safe haven during times of geopolitical tension.
