The cryptocurrency market experienced a decrease in volatility on Friday, with the price of bitcoin stuck between $77,500 and $78,500 since midnight UTC, at $78,631.80. 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 bitcoin price steadily increasing throughout April and consistently achieving 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% due to strong tech earnings, while S&P 500 futures dipped 3 basis points. The Dollar Index (DXY) remained relatively unchanged, despite comments from U.S. 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 initial ceasefire was announced on April 16. Derivatives positioning and token trends will be crucial to watch in the coming days