Bitcoin stuck above $19,000 in price volatility decline

Bitcoin's 30-day price volatility was 31% — the lowest in nearly two years, according to analyst firm IntoTheBlock.

The weak volatility is in stark contrast to the current state of the U.S. stock market, whose stocks have rallied after posting better-than-expected third-quarter corporate earnings reports. A decline in weekly jobless claims signaled a continued strength in the labor market.

Thus, Sergei Zhdanov, CEO of EXMO cryptocurrency exchange, said that cryptocurrency has become less responsive to macroeconomic issues.

This year, the price of bitcoin has come under severe pressure due to the Federal Reserve's interest rate hike, which has led to lower prices for risky assets, including stocks and cryptocurrencies.

Investors across the board remain vigilant as the Fed's next monetary policy meeting is less than two weeks away.

According to Nicholas Colas, co-founder of DataTrek Research, markets still have no clear idea when the current rate cycle will end.