The recent arrest of Telegram CEO Pavel Durov triggered a 23% drop in price over 12 days at the end of August into September, contributing to heightened price volatility.
Although volatility has stabilised, future Telegram news could continue to influence short-term price fluctuations. Sharpe Ratio analysis indicates that prices have retreated from overvaluation, while the correlation between BTC and TON has reached 50%.
The recent 50 basis point cut by the U.S. Federal Reserve is expected to drive prices higher as excess liquidity flows into the crypto market ahead of the yearâs final quarter. However, potential risks may arise from the upcoming U.S. election, which could apply downward pressure.
Written by ShivenMoodley
