The market has taken a breather

After a hefty and brutal start of May, the market has taken a welcoming breather, with bitcoin stabilizing in the $28,000-30,500 range.

Bitcoin (-3%) and ether (-4%) have continued moving in a tight tandem in the last seven days as the BTC-ETH correlation still climbs, now sitting at an extreme 0.922. Meanwhile, BNB has seen an uplifting week, seeing 8% gains after outperforming BTC and ETH over the weekend.

Amid the slow markets, the Fear and Greed index has touched new rare lows of 8, while hedging seems to be the consensus play in both perps and options.

Link copied to clipboard.