Bitcoin Circles $6500 as Volatility Drops to 14-Month Low, Altcoins Slump
A week of contrasts has almost concluded for Bitcoin price, which has posted a further day of relative calm against previous volatility.
Data from Cointelegraph’s price tracker and Coin360 depict a sixth day of relatively stable activity for Bitcoin, which has remained range bound between $6,250 and $6,600 since August 14.
Market visualization from Coin360
Contrasting with volatile conditions witnessed through the second half of July and first weeks of August, the newfound stability has not gone unnoticed, analytics resource Diar revealing Monday that volatility has dropped to a fourteen-month low.
At press time, BTC/USD traded around $6,430 across major exchanges, corresponding to practically flat daily activity, while investors remain down around 15 percent over the past 30 days.
Bitcoin’s 7-day price chart. Source: Cointelegraph Bitcoin Price index
The situation on altcoin markets remains precarious Monday. Ethereum (ETH), which has seen considerably heavier losses than Bitcoin in recent weeks, dropped 4 percent in the 24 hours to press time, to again lose support at $300.
Ethereum’s 7-day price chart. Source: Cointelegraph Ethereum Price Index
Having reached lows not seen since September 2017, ETH/USD has only marginally recovered, echoing similar woes among the major altcoin assets.