Bitcoin, Ethereum Volatility Hit 2-Year Low
The 90-day annualised volatility for Bitcoin [BTC] and Ethereum [ETH] has dropped to two-year lows, according to digital asset analytics company Kaiko, reversing the past discussion over cryptos’ excessive volatility.
Since the previous significant advance in June, the two largest cryptos by market cap have retained their gains for more than a month. While the king currency remained stuck in the $29k-$31k region, Ethereum investors waited for a strong breakthrough from the $1.85k-$1.95k range, according to CoinMarketCap.
The Bollinger Bands (BB) indicator was another indicator of the market’s decreasing volatility. Since the June rally, the bands for both assets have contracted, indicating that vertical movement was missing.
Similarly, the frequency with which ETH changed hands has decreased dramatically in recent months, with July showing minimal signs of improvement.
(With inputs from Shikha Singh)
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