Cryptocurrencies
Bitcoin’s Volatility Returns After Hitting Highest Since July
- Futures premiums have rallied to five-month highs on the CME
- Futures open interest reached all-time high in dollar terms
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Bitcoin surpassed $67,000 for the first time in more than two months, but quickly whipsawed traders as volatility returned to the digital asset sector with US elections approaching.
“The confluence of factors ranging from markets to politics has created a potent mix of short squeezes, speculative positioning, and fresh capital inflows, driving Bitcoin to these new local highs not seen since July,” said Chris Newhouse, director of research at Cumberland Labs.