The cryptocurrency market experienced decreased volatility on Friday, with the bitcoin price stuck in a range between $77,500 and $78,500 since midnight UTC. The lackluster price movement follows a failed attempt to break out above $80,000 on Wednesday.
However, the overall trend remains positive, with the BTC price gradually increasing throughout April and forming a series of higher highs and higher lows. Ether (ETH) mirrored bitcoin's performance on Friday, declining by approximately 0.9% since midnight while trading within a narrow range. U.S.
stock futures were mixed, with Nasdaq 100 futures rising 0.5% due to strong tech earnings, while S&P 500 futures fell by 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 roughly 0.5% when the ceasefire was first announced on April 16.
The reduction in derivatives positioning also contributed to the market's subdued tone.