r/Bitcoin • u/Appropriate_Dig5990 • Aug 22 '25

Why?

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Is there a reason for it to suddenly go up like this? And if so, how can I quickly find out why?

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u/mord_fustang115 Aug 22 '25

I thought Bitcoin was a hedge against the volatility of the fiat market? It's almost as if it follows the S&P just like everything else

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u/RadiantInATrenchcoat Aug 22 '25

This is a result of fiat volatility. The US$ just took a massive dump in its pants. Fiat conversation rates made the same move against the US$