Bitcoin and ether drift lower as Wintermute warns of deteriorating market conditions and drying liquidity

Summary

Bitcoin and ether are trending toward the lower end of their recent ranges amid hawkish Fed policy and geopolitical headlines from Iran. Wintermute's OTC trading desk notes deteriorating market conditions with no fresh ETF demand in sight. Options pricing suggests relatively tight short-term moves, with bitcoin expected in a $61,242-$63,563 range and ether between $1,606-$1,694, implying moves of about 1.9% and 2.7% respectively. Token correlations are rising as liquidity dries up.

Source

bskyBitcoin and ether drift lower as Wintermute warns of deteriorating market conditions and drying liquiditycoindesk.com