Major digital coins traded largely unchanged Friday, continuing a run of subdued volatility that some traders undoubtedly find eerie.
In Friday trading a single bitcoin BTCUSD, +0.04% was trading at $6,452.68, up 0.3% since Thursday at 5 p.m. Eastern Time on the Kraken cryptocurrency exchange. For the week, bitcoin has traded between $6,403 and $6,498.
While advocates argue the falling volatility could be a precursor to a move higher, Rob Sluymer of Fundstrat Global Advisors isn’t ready postulate a bull market is around the corner. “While it is still premature to conclude a major upside trend reversal is broadly under way, each week we have highlighted an incremental ‘Silver Lining’ developing within the crypto universe,” he wrote.
