Gold and DXY more volatile than bitcoin
Several altcoins have seen sharp gains in the last week, fueled by a short squeeze. Meanwhile, BTC experiences mild buoyancy in volatility compression as BTC's 5-day volatility falls below that of gold, the DXY, and U.S. equities.
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Several altcoins have seen sharp gains in the last week, and we also note a substantial outperformance from ETH and BNB versus BTC as market participants rotate into altcoins amidst a frantic short squeeze.BTC, on the other hand, trades at compressed volatility but has experienced mild upside throughout the week, with seven of the first nine trading days of 2023 closing in the green.
