Bitcoin (BTC) remained near the $3,900 level for the entire week, seemingly frozen in a pattern resembling the previous period of stability in the fall of 2018, when prices hovered close to $6,000. Traders also see March as the beginning of an altcoin season, when tokens and smaller coins are showing robust growth or the occasional short-term rally.
CBOE Won’t Issue New Bitcoin (BTC, XBT) Futures; Reassessing Approach to Digital Asset Derivatives |
The share of Tether (USDT) remains high, exceeding 81% mid-week, and hovering just below the 80% mark in the past days. The presence of the stablecoin is the biggest factor for BTC price stability and the potential for movements. It is also behind the active BTC trading, with volumes exceeding the equivalent of $10.7 billion on Friday. Sentiment for BTC remains cautious, as interest is centered on a few select assets.
Tether (USDT) Not Backed by 100% Cash; New Terms of Service Include Loans & Assets |
