27 May 2024

The stage is set for ETHBTC strength

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.
ETH ETF 19b-4 approvals spur speculation
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