Cryptocurrency

Bitcoin prices fall below $70k due to halving buzz causing increased market swings.

Bitcoin Price Slips Below $70,000 Amid Rising Volatility

Market Volatility and Bitcoin’s Price Movement

Price slipped on Monday, pushing the largest cryptocurrency by market cap back below the $70,000 threshold amid higher market volatility ahead of the long-awaited halving event expected later this month.

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Bitcoin’s Volatility Trends

BTC fell more than 1% over the past 24 hours and was sitting at $69,597.8 by 07:26 ET (11:26 GMT). Last week, Bitcoin’s 30-day annualized realized volatility surged to 63.76%, marking the highest level since August 2022. Realized volatility measures the deviation of returns from their average over a specified timeframe, with higher figures indicating a greater risk of price fluctuations.

Spot Bitcoin ETFs Approval Impact

The SEC approved a series of spot Bitcoin exchange-traded funds (ETFs), leading to increased volatility. Following this approval, the spotlight has been on the performance of these spot ETFs, with net inflows affecting Bitcoin and the wider cryptocurrency market.

Bitcoin ETF Analysts’ Insights

Analysts at JPMorgan estimated sales of roughly $184 million across the US spot Bitcoin ETFs on Thursday. The group observed various trends across different ETFs, noting both underperformances and upticks in inflows.

Biggest Thai Crypto Exchange Plans IPO in 2025

Bitkub Capital Group Holdings, the parent company of Thailand’s leading cryptocurrency exchange Bitkub Online, is preparing for a public share offering next year. CEO Jirayut Srupsrisopa aims for a listing on the Stock Exchange of Thailand to enhance visibility and secure funding.

Bitkub Online Valuation Increase

In July 2023, Bitkub sold a 9.2% share of Bitkub Online Co. to Asphere Innovations Pcl for 600 million baht. Jirayut anticipates an increase in Bitkub Online’s valuation, driven by trading volumes expected to reach heights comparable to the 2021 cryptocurrency boom.

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