Bitcoin (BTC<\/a>) saw a fresh hint of volatility at the Dec. 27 Wall Street open as United States equities began the final trading week of the year.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> followed BTC\/USD as it dropped around 1% at the opening bell.<\/p>\n Despite involving a move of only $150, the event was still noticeable on lower timeframes, Bitcoin having shunned any form of volatility for multiple days.<\/p>\n The move came in response to a 0.6% drop in the S&P 500 at the open, with the Nasdaq Composite Index dropping 1.4%.<\/p>\n The U.S. Dollar Index (DXY) responded in kind, making up for ground lost earlier to return to its position from Dec. 25.<\/p>\n With BTC moves still comparatively muted, analysts\u2019 attention focused on potential catalysts, with BNB (BNB<\/a>) still a source of concern amid ongoing<\/a> \u201cFUD\u201d over its issuer, the largest global crypto exchange, Binance.<\/p>\n \u201cThe biggest risk to the Crypto market is BNB,\u201d Matthew Hyland reiterated<\/a> on Dec. 26. <\/p>\n \u201cIt currently has $38.4 Billion Market Cap. Potentially could see $20+ Billion wiped out if support doesn\u2019t hold. How much of it is being used as user collateral to support other coins? A BNB breakdown would carry over elsewhere.\u201d<\/p><\/blockquote>\n BNB\/USD still traded above the $240 mark on the day, this featuring as an important line in the sand<\/a> for bulls to maintain.<\/p>\n Outside crypto, news that China would end COVID-19 quarantine for international arrivals from Jan. 8 failed to have a significant impact on risk asset performance.<\/p>\n Elsewhere, worries still focused on Bitcoin miners, with opinions diverging over the impact of current price action on their activities.<\/p>\n Related:\u00a0Bitcoin hodlers sit on record 8M BTC in unrealized loss, data shows<\/a><\/em><\/strong><\/p>\n Analyzing the popular hash ribbons metric, Charles Edwards, CEO of asset manager Capriole, had a stark warning.<\/p>\n \u201cThis is by far the most brutal Bitcoin miner capitulation since 2016 and possibly ever,\u201d he declared<\/a>. <\/p>\n \u201cHash Ribbons capitulation has captured the lowest Bitcoin hash rate reading of 2022 as miners bankrupt and default under the great pressure of squeezed margins globally.\u201d<\/p><\/blockquote>\n As Cointelegraph reported, in the opposite camp, former BitMEX CEO Arthur Hayes previously dismissed miner problems as a significant potential source of contagion for BTC price action.<\/p>\n Even if they were to sell their reserves en masse on the open market, he claimed<\/a> earlier in December, it would be something of a drop in the ocean in terms of supply versus demand.<\/p>\n The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/dfe01a70-709e-49a8-843a-d4bfbd31e8fb.png\")
Bitcoin ekes out fresh volatility\u00a0<\/h2>\n
![\"\"](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/dc64d98c-dc48-4c6e-83a9-a03baa9f9ebe.png\" "\\"\\"")
![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/ecb92df9-8896-42ea-ac86-0c3f6b77fbfc.png\")
Opinions diverge on Bitcoin miner contagion<\/h2>\n
![\"\"](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/093d249f-7290-46bb-8b4f-08e74877931b.png\" "\\"\\"")