Bitcoin is roughly flat over the past 24 hours as short-term momentum fades. The past few days have been relatively quiet in the crypto market, which typically precedes periods of higher volatility. Some analysts expect crypto prices to consolidate, albeit with the continued relative outperformance of altcoins such as ether and cardano.
Bitcoin, the world’s largest cryptocurrency by market cap, was trading at around $45,400 at press time and is up 55% year to date, compared with a 19% return for the S&P 500 and a 30% return in commodities over the same period. RE Market Wrap: Bitcoin Rangebound Amid Institutional Strength – CoinDesk