VIX index starting to rise, bringing stress to stocks, Bitcoin shoots up

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Last Updated on 20 July 2024 by CryptoTips.eu

Bitcoin had a great week after the attack on Donald Trump and the so-called ‘Trump trade’ took effect. Meanwhile financial markets and especially tech stocks suffered.

The VIX, the panic barometer of the stock markets, is shooting higher as nervousness is increasing among investors. Crypto doesn’t seem to be affected as prices enter the weekend will into the green.

Bitcoin is trading at the time of writing for $66,700 and briefly touched $67,000 yesterday.

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AEX

The Dutch stock exchange AEX has been lower for a whole week after a new annual top was set last week and is losing technical strength. At the same time, we see a rising VIX indicator worldwide. The so-called panic barometer of the financial markets is creeping higher while global stocks such as Nvidia and ASML fall.

Is this a normal decline after the huge increases in recent months? And why isn’t Bitcoin falling at the same time? Why the discrepancy?

Whales

Also notable this week were the many billionaires, such as Bill Ackman and Mark Cuban, who commented on the stock markets, geopolitics and also on the price of bitcoin. Ackman, the well-known investor, expressed his support for Trump after years of supporting Democrats.

Mark Cuban, meanwhile, explained that he wasn’t sure why Silicon Valley chose Trump as from now, whereas they usually vote Democrat. However, Cuban said that it was clear more and more billionaires would buy Bitcoin from now on to safeguard their long-term investments from rising inflation and the threat of another war.

According to him, the falling dollar also plays a role. As always, geopolitics comes into play. In other words, Cuban thinks Whales are buying Bitcoin now because it seems cheap for the time being. The next few months will let us know if he’s right.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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