The cryptocurrency market experienced reduced volatility on Friday, with the bitcoin price stuck in a range between $77,500 and $78,500 since midnight UTC, currently trading at $76,109.54. This subdued price movement follows an unsuccessful attempt to break out above $80,000 on Wednesday.
However, the overall trend remains positive, with the BTC price steadily increasing throughout April and consistently forming higher highs and higher lows. On Friday, Ether (ETH) mirrored bitcoin's performance, declining by approximately 0.9% since midnight while also trading within a narrow range.
U.S. stock futures presented a mixed picture, with Nasdaq 100 futures rising 0.5% following strong tech earnings, while S&P 500 futures slipped by 3 basis points. The Dollar Index (DXY) remained relatively stable, despite U.S. President Donald Trump's comments confirming a three-week extension of the ceasefire between Israel and Lebanon.
The dollar had previously fallen around 0.5% when the initial ceasefire was announced on April 16. Derivatives positioning and market trends will be crucial in determining the next moves for major cryptocurrencies.