BITCOIN (BTC/USD), ETHEREUM (ETH/USD), AND ALT-COIN ANALYSIS AND CHARTS:
Picking up the pieces but buyers stay wary.
Ethereum/Bitcoin spread recovery continues.
Last week’s thick sell-off is slowly being pulled back with the market close to recovering from last Wednesday’s wipe-out. The industry still stays in the red over the previous seven days and the previous three daily candles, for example now, highlight an indecisive market held inside a narrow trading range. Additional consolidation around current levels might well precede a move higher, but volatility remains at near-record extreme amounts along with a surprising breakout, either way, cannot be controlled out.For Bitcoin to regain further the 42,000 area has to be reclaimed.
The Ethereum/Bitcoin spread collapsed a week after a powerful push off the late-March low. Again, consolidation is required to push this disperse back to the cluster of recent highs on each side of 800. The macro-talk of Ethereum overtaking Bitcoin in market capitalization terms remains alive, with Goldman Sachs the newest to forecast that Ethereum’has a high chance of overtaking Bitcoin since the dominant store of value’.
ETHEREUM/BITCOIN (ETH/BTC) DAILY PRICE CHART
The alt-coin market remains volatile using a combination of 7-day losses and gains seen across the space. Ripple (XRP) is down around 12%, Polkadot (DOT) is presently demonstrating a 7-day loss of 16 percent, while Solana (SOL) is reduced by 15 percent. Uniswap (UNI) and Chainlink (LINK) are up 12% and 16% respectively, while Ethereum Classic (ETC) is showing a 7-day gain of 15%.
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