Market Update - Week 16: An extraordinarily stable crypto market

The bitcoin price is down 1% over the past seven days after being exposed to remarkably little volatility. The crypto market seems to be indecisive as the bitcoin price has been hovering around $40k for several weeks now.
Source: Tradingview (Coinbase, Binance)

Correlations in the crypto market continue to stay elevated, with ETH and BNB closely following bitcoin over the past seven days, declining 2% and 4%.

Dogecoin climbed 17% over the past seven days after seeing a 30% price pump following Elon Musk’s takeover of Twitter on Monday, as some traders speculate that Musk will integrate his favorite cryptocurrency into the social media platform.

Link copied to clipboard.