The cryptocurrency market experienced a decline in volatility on Friday, with the price of bitcoin stuck between $77,500 and $78,500 since midnight UTC, currently trading at $76,987.97. This subdued price action follows an unsuccessful attempt to break out above $80,000 on Wednesday.
Despite this, the overall trend remains positive, with bitcoin's price gradually increasing throughout April and consistently recording higher highs and higher lows. Meanwhile, Ether (ETH) mirrored bitcoin's performance, dropping approximately 0.9% since midnight while also trading within a narrow range. In the US stock market, futures were mixed, with Nasdaq 100 futures rising 0.5% due to strong tech earnings, while S&P 500 futures slipped 3 basis points. The Dollar Index (DXY) remained relatively unchanged, despite comments from US President Donald Trump confirming a three-week extension of the ceasefire between Israel and Lebanon.
The dollar had previously fallen around 0.5% when the ceasefire was first announced on April 16. Additionally, derivatives positioning and token performance are being closely watched.