Bitcoin Rangebound as Volatility Shifts to Altcoins
Dow Jones
Yesterday
1049 ET - Bitcoin stays in its recent range between $77,000 to $81,000, with it trading up 0.7% to $79,068. The volume and activity that powered bitcoin in recent weeks appears to have shifted towards altcoins, says analysts with Bitfinex in a note. "Every one of the 29 largest liquid pairs rose between 1-8 September, with a median gain of 10.2% against 1.4% for bitcoin," says the firm. Polkadot is the leading gainer among major cryptocurrencies in that timeframe, having gained 35% in the past week, according to data from CoinGlass. "This reflects a return of risk appetite in the market," says Bitfinex. Ethereum rises 0.6% to $2,498, XRP climbs 0.7% to $1.42, and solana is up 0.4% to $103.47.
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