Bitcoin, Ether Continue Their Rapid Descent in Volatility
, 2023-01-05 20:19:00,
Good morning. Here’s what’s happening:
Prices: Bitcoin holds steady at $16,800 amid ongoing concerns about the economy and central bank hawkishness.
Insights: Bitcoin and Ethereum’s Average True Range has declined by more than 80% since 2022.
Prices
806.34
−0.2 ▼ 0.0%
$16,845
+4.2 ▲ 0.0%
$1,254
−1.3 ▼ 0.1%
S&P 500 daily close
3,808.10
−44.9 ▼ 1.2%
Gold
$1,837
+2.5 ▲ 0.1%
Treasury Yield 10 Years
3.72%
▲ 0.0
BTC/ETH prices per CoinDesk Indices; gold is COMEX spot price. Prices as of about 4 p.m. ET
Bitcoin Continues Its 2022 Nostalgia Tour
By James Rubin
Bitcoin and ether continued their 2022 nostalgia tours, with the two largest cryptos by market capitalization holding almost precisely where they stood for the last two weeks of December.
BTC was recently trading at about $16,850, flat over the last 24 hours as investors mulled early 2023 economic indicators that seemed at odds and ongoing U.S. central bank resolve to raise interest rates for at least the first part of 2023. Ether followed a similar pattern to trade at just above $1,200, its perch on Wednesday, same time. Other major cryptos also spent much of Wednesday hovering within their most recent ranges.
ADA, the token of the Cardano blockchain, was recently up 1.8%. The CoinDesk Market Index (CDI), an index measuring cryptos’ performance, recently inched down 0.19%.
In an interview with CoinDesk TV’s First Mover program, Katie Stockton, managing…
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