Bitcoin prices were mostly unchanged Thursday, extending a lull that has washed over crypto markets and pushed volatility to its lowest level since mid-November.
On Thursday, one bitcoin
BTCUSD, -0.29%
was fetching $3,386.73, down 0.2% since Wednesday’s level at 5 p.m. Eastern Time on the Kraken exchange. The cryptocurrency has not traded outside of the $3,300 – $3,800 range since Jan. 11.
According to Buy Bitcoin Worldwide, the 30-day bitcoin volatility index stands at 2.41%, the lowest level since Nov. 19, 2018.
Read: Bitcoin hasn’t been this oversold in 4 years, chart watcher says
What are analysts saying
Nancy Pakbaz, markets analyst at Daily FX said despite suppressed crypto prices, retail traders are still betting on bitcoin with the number of retail traders net long, 2.5% higher than the previous day and 2.4% higher compared with last week.
“The combination of current sentiment and recent changes gives us a further mixed bitcoin trading bias,” she wrote.
Read: Crypto exchange customers can’t access $190 million after CEO dies with sole password
Altcoins and futures
Cryptocurrencies other than bitcoin, colloquially known as altcoins, were mixed on Thursday. Ether
ETHUSD, -0.10%
fell 0.1% to $103.03, Litecoin
LTCUSD, +0.96%
gained 1% to $32.68, Bitcoin Cash
BCHUSD, -0.70%
was down 0.5% at $113.60 and XRP,
XRPUSD, +0.98%
the currency of the Ripple protocol, was trading at 29 cents, up 0.9%.
Futures were mostly unchanged to begin Thursday. The Cboe Global Markets February contract
XBTG9, -0.07%
was unchanged at $3,350, while the CME Group February contract
BTCG9, +0.15%
added 0.1% at $3,340.
Read: A record number of people are gambling on blockchain — literally
Providing critical information for the U.S. trading day. Subscribe to MarketWatch’s free Need to Know newsletter. Sign up here.
Source : MTV
