A sudden 20% drop in global bid-and-ask indicator occurred in cryptocurrency markets this weekend, potentially amplifying price swings. The decline happened during an altcoin crash amid rumors of a fund liquidating its holdings. Thin liquidity conditions may pose challenges for executing large orders at stable prices, leading to higher market volatility.
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Bitcoin’s Intraday Volatility and Its Connection to US Inflation Data Release
The U.S. Bureau of Labor Statistics is set to release April’s CPI inflation data, while Bitcoin has exhibited increased intraday volatility around such releases. This trend is tied to the Fed’s monetary policy and may prompt further price fluctuations in the leading cryptocurrency.