Bitcoin, currently a stable coin
The first ten days of 2023 have remained stubbornly flat in BTC. BTC is currently more stable than gold, the dollar strength index, Nasdaq, and the S&P 500 gauged through 5-day volatility.
Jan 10th 2023
Source: Tradingview (Bitstamp)
The first ten days of 2023 have remained stubbornly flat in BTC. In this report, we have highlighted that the stable state of BTC in isolation is reflected in a tranquil derivatives market and supported by lower trading activity in BTC. In sum, these observations point towards a dampened speculative demand in BTC, as already noted in our previous market updates.