A massive news week, while market volatility takes a breather. ETH reigns attractive following 19b-4 approvals, while looming Mt. Gox distributions are weighing down on BTC.
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High BTC volumes but relatively low volatility
BTC continues to chop around $70,000 on high trading volumes despite considerably low 7-day volatility of 1.4%. BTC has seen three other incidents of 7-day volatility below 2% in the last quarter, each period of which has been short-lived and quickly resumed by a massive surge in volatility. If the past mirrors the present, Bitcoin should be poised for a bigger move within the next few days.
Ether ETFs will launch in the U.S. after a sudden SEC turnaround and 19b-4 approvals, while the U.S. House of Representatives has passed an anti-CBDC bill. In Trending Topics, we cover crypto’s emergence as a political issue ahead of the U.S. elections.lg...more
Yesterday saw unexpected news surrounding the U.S. spot Ether ETF applications, leading to strong Ether outperformance in the last 24 hours. The risk-reward now favors short-term aggression in ETH, but traders should rotate out before the ETFs go live. lg...more