Share this article
Crypto Markets Analysis: Bitcoin Trades Flat for the Week; Ether Breaches Top Range of Technical Indicator
Ether shows early signs of momentum as prices push past the upper range of Bollinger Bands again.
Updated Jan 9, 2023, 5:31 p.m. Published Jan 6, 2023, 8:47 p.m.
Bitcoin and ether maintained their penchant for flat trading this week, with prices moving just 1.3% and 4.6%, respectively, over the most recent seven days.
On a relative basis, BTC’s seven-day performance was 18th among the top 20 cryptocurrencies by market capitalization. Ether was 12th in the group.
STORY CONTINUES BELOW
Não perca outra história.Inscreva-se na Newsletter Crypto Daybook Americas hoje. Ver Todas as Newsletters
Over the most recent 30 days, BTC and ETH have moved just 0.7% and 0.8% respectively, reflecting the recent, stagnant price action.
The laggard for the week was LEO, which declined 1.6%, while led the way with a 34.5% price increase.
An Improved range of price action within the basket of currencies highlighted the week. Where on Dec 16, performance ranged between 30.6% and -15.4%, this week’s range spans 34.5% and -1.6%.
Crypto screen of the day
Despite ETH’s middling performance over the last seven days, the second largest crypto in market value breached the upper range of its Bollinger bands on Friday.
Another coin of note making an appearance on the Bollinger Band screen is . The BNB token garnered attention recently when it failed to win a listing on any major U.S. crypto exchanges, except for Binance.US.
Bollinger bands are a technical indicator that measures an asset’s moving average (often the 20-day), and calculates two standard deviations above and below that price.
Statistically, prices are expected to stay within two standard deviations approximately 95% of the time. Prices moving past the upper Bollinger Band range are often bullish indicators.
CoinDesk Market Index sector performance
Week-to-date performance among CoinDesk’s CMI sectors shows the CoinDesk Culture and Entertainment (CNE) sector leading the way, with the CoinDesk Currency sector (CCY) as the laggard.
The CNE Index, meant to track the performance of assets found within the gaming, metaverse and virtual world sphere, includes the following notable assets: , Axie Infinity (AXS), Chilliz (CHZ), , .
The CCY index, which measures the performance of many larger currencies in the digital asset universe, includes the following constituents: , , , , Stellar (XLM).
More For You
Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
More For You
This article is created to test tags being added to image overlays
Dek: This article is created to test tags being added to image overlays
What to know:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
Top Stories
