Crypto Markets Nibble At The Edges And Hold Firm

Investing, News | October 2, 2018 By:

The cryptocurrency markets were like the Sargasso Sea in early trading today – everything was on the edges and calm, with no firm direction up or down. That’s likely because the SEC ruling on bitcoin ETFs is due at any moment, which will send the market into a frenzy.

At mid-morning, most of the top ten coins were essentially flat, with less-than-zero gains or losses.

Bitcoin was holding at the $6,500 mark, and either held firm at at $226. Trading volume was low on both, indicating a market with its finger in the air. Other coins were down as well, with Bitcoin Cash (up 0.45) and Monero (up 0.60) the outliers heading up. Stellar (down 1.99 percent) was the red arrow outlier.

Bitcoin market highlights for the 24 hours ending October 2, 2018 at 1:00 pm US Eastern Time

The highest price seen was $6,745.80 on the Bitlish exchange at 11:43 pm yesterday. Bitlish saw $32,624,188 of bitcoin change hands.

The lowest price seen was $6,370.41 on Cryptonex’s exchange at 11:55 am today. Cryptonex’s 24 hour volume was $29,221,853.

The average price on the surveyed exchanges, as weighed by volume, was $6,573.94.

Volatility was a bit lower than average, with the BlockTribune Volatility Index coming in at 44.4. A higher number indicates greater price volatility with 50 describing an average day.

These statistics were consolidated from 23 different exchanges. It includes only BTC/USD trades and only on those exchanges that had at least 1% of the total volume of BTC/USD trades during the measurement period.