Reserve

Bitcoin

DeFi

April

<ul>
 <li>The price of Bitcoin recovered from its decline below $50,000 and re-broke $54,000.</li>
 <li>The volatility index has dramatically soared to values over 50, last seen in April 2020.</li>
</ul>
Financial behemoth <a href="https://thenewscrypto.com/jpmorgan-raises-bitcoin-production-cost-estimate-to-45k-from-42k/" target="_blank" rel="noopener noreferrer nofollow">JPMorgan</a> claimed that a buy-the-dip opportunity is approaching as the world market collapses across asset classes. There have been a few brief liquidations in the last hour as the price of <a href="http://bitcoin.org" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> recovered from its decline below $50,000 and re-broke $54,000.
According to the JPMorgan trading desk, the IT sector’s rotation is almost complete. And the market is almost ready to give a “tactical” buy-the-dip chance. As the selloff in global markets deepened on Monday.
<h3 class="wp-block-heading" id="h-tactical-opportunity">Tactical Opportunity</h3>
Predictions of an imminent <a href="https://thenewscrypto.com/federal-reserve-ends-enforcement-actions-against-silvergate-bank/" target="_blank" rel="noopener noreferrer nofollow">Federal Reserve</a> emergency meeting sent the Nasdaq down by 5% in Monday’s early trading hours. It would be intriguing to see whether the Federal Reserve steps in to calm the markets. By announcing a rate drop of 50 basis points before September.
Having said that, the volatility index has dramatically soared to values over 50, which was last seen during the COVID-19 pandemic meltdown in April 2020.
The head of positioning intelligence at JPMorgan, John Schlegel, stated:
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “Overall, we think we’re getting close to a tactical opportunity to buy-the-dip and our Tactical Positioning Monitor could dip further in the next few days. That said, whether we get a strong bounce or not could depend on future macro data.”
</blockquote>
Despite falling below $50,000 twice in the last 24 hours, the price of Bitcoin has recovered significantly, rising 8% from its low points. In the previous hour, due to this significant turnaround, more than $40 million worth of Bitcoin short bets were liquidated, according to data from Coinglass. At the time of writing, Bitcoin is trading at $54,029, down 9.80% in the last 24 hours as per data from <a href="http://coinmarketcap.com" target="_blank" rel="noopener noreferrer nofollow">CMC</a>.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/defi-liquidations-hit-new-annual-high-amid-crypto-market-sell-off/" target="_blank" rel="noopener noreferrer nofollow">DeFi Liquidations Hit New Annual High Amid Crypto Market Sell-Off</a>

JPMorgan Sees Buy-the-Dip Chance as Bitcoin Bounces Back to $54K

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TheNewsCrypto

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