Bitcoin Price Volatility Peaks Amid Trump’s Executive Order and Market Tension
COINOTAG News reports that as of March 10th, **Bitcoin’s** price volatility reached unprecedented levels, escalating market anxiety. Data from The Block shows that following a peak annualized volatility of **59.4%**, figures have now settled around **58%**. This marks the highest volatility since December 2022, a period when bullish sentiment was prevalent due to expectations surrounding a pro-crypto administration. However, unlike last December’s upward trajectory, **Bitcoin’s** value has retracted over **15%** in the past month amidst increasing bearish sentiment.
This recent surge in volatility correlates with an executive order signed by former President Trump, aimed at creating a **strategic reserve** for Bitcoin. This initiative involves a critical assessment of the government’s digital asset holdings, prominently featuring around **200,000 Bitcoin**, which was approximately valued at **$17 billion** at the time. Trump’s appointed “Crypto Czar,” David Sacks, assured that these **Bitcoins** would remain untouched, likening them to a **digital Fort Knox** and positioning them as a substantial national asset.