Market Wrap: Bitcoin Rebounds Amid Lower Volatility, Altcoins Outperform

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MARKET WRAP: Altcoins such as $AAVE and $SOL outperformed on Friday while bitcoin $BTC rebounded. Stocks traded lower after the US employment report.

Ten-year Treasury yield daily close: 2.38%

Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atBitcoin's trading volume across major exchanges remains relatively low, according to CoinDesk data, despite trading activity tending to increase around the first and last weeks of the month.

The chart below shows large volume spikes, which typically occur during price drops. Some analysts noticed that BTC tends to decline around the beginning of the month before a recovery unfolds, similar to what occurred in February and March., which suggests less bearish sentiment among option traders. The ratio has stabilized over the past two weeks, which could precede higher volatility, especially if BTC breaks above or below its short-term trading range.

The options market is placing a 55% probability that BTC will trade above $44,000 in May, according to data provided byAltcoin roundupThe three-week-old GMT rose by as much as 52% on Friday to highs of $3.11. GMT is the governance token of Stepn, a fitness app that allows users to access in-game features, such as being able to mint virtual sneakers, upgrade “gems” and participate in governance voting.

 

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Bitcoin has just reached a resistance point within this ascending channel. If it breaks the $48K range successfully, bullish momentum will continue Y’all follow lowrybtc She’s a super underrated Bitcoiner who have been following her tweets and tip closely Follow her

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