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26 October 2020

Market Wrap: Bitcoin Slips to $11.2K; Uniswap Flows Dominate Ether - CoinDesk

Market Wrap: Bitcoin Slips to $11.2K; Uniswap Flows Dominate Ether - CoinDesk


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Market Wrap: Bitcoin Slips to $11.2K; Uniswap Flows Dominate Ether.

“$11,500 was a first target reached, but also the first major roadblock with a heavy congestion zone ahead, between $11,500 and $12,000, the range in which bitcoin has been trading for the full month of August.”.

“Implied volatility is the expected volatility of bitcoin going forward, which tends to give some insight on how much bitcoin could swing, up or down,” noted ExoAlpha’s Lifchitz.

“Today, bitcoin options one-month implied volatility is around 50%, which is in line with a historically quiet market, meaning that there is, as of now, no drastically bullish or bearish sentiment out there regarding expected bitcoin short-term moves,” said Lifchitz

Ether (ETH), the second-largest cryptocurrency by market capitalization, was down Wednesday trading around $375 and slipping 0.68% in 24 hours as of 20:00 UTC (4:00 p.m

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