In recent weeks, the cryptocurrency market has experienced significant uncertainty and volatility, stemming from the ever-changing global macroeconomic landscape. This turbulent market has caused Bitcoin’s price to fluctuate between $74,000 and $83,000 in just a few days.
Last week, BTC’s value dipped to nearly $74,000 as crypto traders reacted anxiously to United States President Donald Trump’s announcement of new trade tariffs. However, on Thursday, April 10, Bitcoin rebounded to the $83,000 mark after Trump announced a pause on trade tariffs for all countries except China.
Is Bitcoin Emerging as a ‘Mature Asset’?
Bitcoin’s price has shown sensitivity to almost every significant news item in the global trade arena, highlighting the ongoing volatility within the cryptocurrency market. Yet, an on-chain analytics specialist has indicated that today’s Bitcoin market volatility is significantly lower compared to previous incidents.
In a recent post on the social media platform X, Julio Moreno, CryptoQuant’s research lead, stated that the current Bitcoin price volatility during this period of global trade disputes has been “much less” than past occurrences, including the market crash during COVID-19, the Terra-Luna collapse, the FTX debacle, and the Silicon Valley Bank (SVB) run.
The key metric in focus is the Price Intraweek Range, which assesses the percentage change in Bitcoin’s average weekly price. Data from CryptoQuant shows that this metric reached an unprecedented high of 72% during the COVID-19 market crash in April 2020.
Source: @jjcmoreno on X
The above chart illustrates that the BTC Intraweek Range metric spiked to 49% following the downfall of the Terra Luna ecosystem in May 2022. Meanwhile, it recorded 31% after the collapse of the FTX exchange, led by Sam Bankman-Fried, in late 2022 and the SVB bank run in early 2023.
Amid rising trade tensions between the United States and China, the Bitcoin Price Intraweek Range currently lies between 8% and 21%. This lower volatility indicates that Bitcoin has matured as an asset, featuring deeper liquidity and an improved market structure.
This relatively stable price behavior can be attributed to the increasing number of long-term holders and steady adoption by corporations, as institutional investors start viewing the largest cryptocurrency less as a high-risk investment and more as a safeguard against macroeconomic instability.
Bitcoin Price Overview
At the time of writing, Bitcoin’s price is approximately $83,700, representing a 5% increase over the last 24 hours.
Bitcoin price surpasses $83,000 on the daily chart | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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