• Bitcoin was more volatile since the start of October than it had been in the past 200 days.
• The king coin decoupled from the equities market.

Bitcoin’s [BTC] volatility has been a hot subject of discussion in 2023. With values plummeting to historically low levels, a dramatic shift in investors’ sentiment has been observed for an asset that was known outside crypto circles for its wild swings.

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The last month of September proved to be no exception, as the king coin remained suppressed throughout the period.

Volatility spike in October

However, things changed quite dramatically since the onset of October. According to a report by crypto trading platform Bitfinex, Bitcoin’s historical 24-hour volatility more than quadrupled on 2 October.

In fact, as indicated below, the daily historical volatility held above a 200-day exponential moving average. This basically meant that the king coin has been more volatile since the start of October than it had been in the past 200 days.

Interestingly, the implied or forward-looking volatility was higher than the historical volatility. At the time the report was published, the implied volatility was found to be 37.8% while the historical volatility stood at 32.4%

For the uninitiated, historical volatility reflects the past price movements of a particular asset, while implied volatility gauges future expectations of price movements based on the prices of options contracts.

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Author: Aniket Verma

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