Bitcoin was roughly flat over the past 24 hours as buyers attempted to continue to reverse some of last weekend’s losses.
“In spite of the shock sell-off, volatility markets remain relatively calm.
Also, Three Arrows Capital, a Singapore-based hedge fund, purchased more than 90,000 ETH worth about $400 million over the weekend, according to wallet data shown on Etherscan.
Still, ether’s outperformance of late is unusual in a market where traders are wary of riskier assets, Stockton noted.
Discussions focused on security frameworks, the anonymous nature of crypto transactions and how Congress can incorporate digital assets into existing regulatory standards.
Some analysts view the index as a contrarian signal, suggesting that buyers could return to buy BTC on price dips.
Bitcoin’s year-to-date return has narrowed relative to the S&P 500 over the past month.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
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.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.