Volatility Is the Price of Admission
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Volatility Is the Price of Admission
Bitcoin is no stranger to volatility, but the past two weeks have been especially turbulent—even by its standards. After chopping around ~$96k on February 24, the price plummeted to ~$78k by February 28, then rebounded to ~$95k by March 2 following a tweet from POTUS about a potential “strategic crypto reserve.”
However, renewed tariff talk briefly sank bitcoin back down to ~$81k on March 4, bouncing back to around ~$90k on March 6, and back down to ~83k as of this writing. These swings—among the largest in bitcoin’s history—offer three key insights:
Bitcoin’s Nature: As the freest, most open market on the planet, bitcoin reacts instantly to various macro headlines—even over weekends when traditional markets are closed—adding to its volatile profile.
Misunderstood Monetization: The path to becoming a global monetary asset is inherently choppy. Rather than bemoan price drops, long-term investors should perceive them as opportunities to accumulate.
Global Monetary Stress: The most consequential factor—we are in the throes of a global financial reordering, where sovereign bond markets are teetering, currency debasement looms, and governments edge closer to accelerated currency debasement.
source: Onramp Terminal
A Brewing Bond Crisis
Across Europe and Japan, bond yields are surging to levels not seen in over a decade. German 10-year yields, Italian, Greek, and Spanish debt—all have spiked significantly, while Japan’s 10-year yield sits at 1.5% (its highest in ten-plus years), with the 30-year creeping to 2.51% (unseen since 2008).
These yields govern everything from mortgage and business loan rates to sovereign refinancing costs, meaning higher borrowing costs for public and private sectors alike. Central banks had hoped their efforts to tame inflation would push yields back down, but the opposite is happening.
source: The Great Martis on X
Even in the U.S.—where the new administration is explicitly targeting the 10-year yield—bondholders are growing wary of ballooning deficits, recessionary fears, and the sheer scale of debt rollover ahead. If yields keep rising unabated, the possibility that the entire global debt bubble could unwind heightens.
Printing Is the Path of Least Resistance
In times of crisis, governments often resort to printing money rather than risking mass defaults. We see this already in Germany, which rapidly changed its constitution to green-light defense spending and a massive infrastructure fund—effectively bypassing traditional budget constraints.
Japan, the U.K., and other nations have signaled similar readiness to “do whatever it takes,” typically via bond-buying programs or so-called “temporary” policy measures that evolve into permanent money creation.
Dollar Weakness & Hard Assets
Adding fuel to the fire, the U.S. dollar recently broke down from a head-and-shoulders topping pattern, a technical signal that could further bolster assets like bitcoin and gold. As fiat currencies face mounting stress, investors increasingly pivot toward scarce, non-sovereign stores of value.
source: Bravos Research on X
Why Bitcoin Matters
Scarcity: With no central authority able to “print” more coins, bitcoin functions as digital sound money in a world of debasement.
Transparency: Its 24/7 market and unceasing liquidity reflect everything from tariff tweets to potential government debt crises—on a scale unmatched by traditional assets.
Accessibility: Individuals who’d rather not juggle stock and real estate markets to preserve purchasing power can own BTC directly, free from debasement, execution, and counterparty risk.
The New Administration’s Strategic Bitcoin Reserve
With President Trump confirming the establishment of a U.S. Strategic Bitcoin Reserve (SBR) on March 6, Bitcoin’s status as a legitimate sovereign asset is now undeniable. It’s a remarkable shift: once derided as a fringe experiment, bitcoin is now discussed at the highest levels of government as a hedge against runaway spending and the possibility that traditional bond markets might break under their own weight. Meanwhile, SBR bills at the state level are advancing through various rungs of approvals and hearings.
source: Bitcoin Laws
Volatility vs. Value
Yes, bitcoin’s price can veer wildly from day to day— $96k → $78k → $95k → $81k → $90k→ $83k in a fortnight. But those whipsaws are set against a broader backdrop of bond market turmoil, shrinking faith in fiat, and the looming inevitability of printing more money.
As governments worldwide navigate these choppy monetary waters, each bout of printing reinforces the logic of owning hard assets untethered to state-driven currency risks. Bitcoin is the antidote, offering an alternative to endless debt-fueled cycles and the unpredictability of fiat debasement.
Chart Of The Week
Global Liquidity vs. Bitcoin Price: "I really wonder what happens next. Back to the top of the channel liquidity goes."
Quote of the Week
“The President definitely thinks that there’s a Bitcoin strategic reserve.
Now, there will be the question of, how do we handle the other cryptocurrencies? And I think the model is going to be announced on Friday when we do that.
A Bitcoin strategic reserve is something the President’s interested in. He spoke about it all during the campaign trail, and I think you’re going to see it executed on Friday [3/7/25].
So Bitcoin is one thing, and then the other currencies, the other crypto tokens, I think, will be treated differently—positively, but differently."
— Commerce Secretary Howard Lutnick
Podcast Of The Week
Bitcoin For Professionals: Onramp MENA’s podcast tailored for investors, business leaders, and professionals looking to understand Bitcoin’s role in wealth preservation and financial strategy.
Recent episodes have explored Bitcoin’s impact on sovereign reserves, its institutional adoption, and how High Net Worth Individuals and Family Offices are integrating it into their portfolios. With expert insights, deep-dive discussions, and real-world case studies, the podcast breaks down complex Bitcoin concepts into actionable knowledge for professionals navigating an evolving economic landscape.
Subscribe to Onramp MENA’s YouTube channel to catch new episodes of the Bitcoin For Professionals podcast!
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