The cryptocurrency was up about 6% over the past 24 hours compared with a 7% gain in ether over the same period.
“On the other hand, BTC remains below its 50-day average , which has acted as resistance for the past 10 days.
On an annualized basis, bitcoin and ether’s 30-day volatility remains low compared with earlier this year.
Some analysts expect volatility to eventually rise next year, especially as the correlation between bitcoin and the S&P 500 remains elevated.
Bitcoin dropped nearly 20% from its all-time high near $69,000 last week, which was the largest drawdown since September.
Crypto investment fund inflows rose to $306 million last week despite the overall market pullback.
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Damanick is a crypto market analyst at CoinDesk where he writes the daily Market Wrap and provides technical analysis.
Tracy Wang is a senior reporter at CoinDesk.
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