Bitcoin’s price is starting to stabilize after a near-4% drop over the past week.
“The last three years we’ve had downward volatility every time around this holiday; could be due to end of month rotations, options/futures expiries and rebalancing,” CryptoQuant wrote in a blog post.
Bitcoin is up about 3% over the past 24 hours, compared with an 8% rise in ether.
The bitcoin Fear & Greed index is at the lowest level since late September, which preceded a BTC price recovery.
The chart below shows the recent rise in the dollar , which could signal further downside in bitcoin’s price.
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Damanick is a crypto market analyst at CoinDesk where he writes the daily Market Wrap and provides technical analysis.
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