Navigating the Bitcoin Plunge and Stock Market Volatility: Expert Insights and Strategies

Bitcoin and the stock market experienced significant declines, with Bitcoin closing 7.15% lower and the S&P 500 down 0.77%. The increased worry that the Federal Reserve will continue raising interest rates contributed to the market volatility, as seen in the rise of the Volatility S&P 500 Index. The ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY) saw a spike in response to the market turbulence, breaking out from a cup-and-handle formation. Traders bullish on volatility may find an entry point if SPKY forms a higher low above $4.91. The ETF regained the 50-day moving average as support, suggesting a potential short-term bull cycle.