Bitcoin (BTC), Ether (ETH) Prices Hold Steady as Traders Brace for Next Big Move
The crypto market consolidated on Tuesday with bitcoin and ether trading at $105,000 and $3,550, respectively.
Traders are keeping an eye on whether prices to see if they form a lower high, signaling a downtrend, or continue to rally.
A drop below $98,000 for bitcoin would confirm the bearish scenario, while a move above the Nov. 2 high of $111,000 would present a bullish outlook.
Recent volatility in the crypto market has been driven by dollar strength, with the DXY index rallying from 96.2 on Sep. 18 to 99.58 as indecisive comments from the Federal Reserve provide little guidance in terms of cutting U.S. interest rates.
Derivatives positioning
By Omkar Godbole
- BTC and ETH 30-day implied volatility (IV) indexes…
