Market Wrap: Bitcoin Takes Late Dive Below $19K, Ether Falls as Merge Countdown Begins

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Ether outperformed bitcoin as investors eyed the Ethereum Merge, and bitcoin fell sharply late in the day. GWilliamsJr_CMT and _jocelynyang_ report

Ten-year Treasury yield daily close: 3.34%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 atETH prices warranted attention Tuesday and will continue to do so in coming days, given the Ethereum Merge. The price for the second-largest cryptocurrency by market cap is roughly flat since Aug. 29.

Open interest indicates the number of call and put options contracts held by investors, and the ratio between the two highlights which is held more. A call put ratio above one can signal that participants are bullish. Plotting ETH prices relative to BTC shows that the ETH/BTC currency pair has risen 52% since July 22 to 8 cents from 5 cents. The relative strength index indicator is 69, which in traditional circumstances implies an overbought condition. ETH’s RSI for the ETH/USD pair is 47.92, which is slightly below the traditionally neutral mark of 50.

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