The cryptocurrency market experienced reduced volatility on Friday, with the price of bitcoin stuck in a range between $77,500 and $78,500 since midnight UTC, currently trading at $78,123.60. This subdued price movement follows an unsuccessful attempt to break out above $80,000 on Wednesday. Despite this, the overall trend remains positive, with the BTC price steadily increasing throughout April and forming a series of higher highs and higher lows. Meanwhile, Ether (ETH) mirrored bitcoin's performance, declining by approximately 0.9% while also trading within a narrow range.
U.S. stock futures showed mixed results, with Nasdaq 100 futures rising 0.5% due to strong tech earnings, and S&P 500 futures slipping 3 basis points. The Dollar Index (DXY) remained relatively unchanged, despite comments from U.S. President Donald Trump confirming the extension of the ceasefire between Israel and Lebanon by three weeks.
The dollar had previously fallen by about 0.5% when the ceasefire was first announced on April 16. Additionally, the derivatives market saw adjustments in positioning, with traders unwinding their leverage.