Bitcoin has failed to record a week-on-week move after some volatility over seven days. The world’s largest cryptoasset began last week trading around $36,800 and saw losses in midweek, falling to around $35,300. It then recovered taking it back to its seven-day starting position and is now once again trading around $36,800, writes Simon Peters, cryptoasset market analyst at multi-asset investment platform eToro.
Ether had a stronger week, rising around 1.8%. It began trading seven days ago just above $1,980 and also saw early week losses, down to around $1,910 but recovered strongly to trade this morning at just below $2,020.
Elsewhere in the crypto market, Axie Infinity saw a strong week for gains, rising around 11.2%. The gaming token saw its price come back to life after it was reported that the number of active users on the platform had rebounded.
Week Ahead
The week ahead in markets looks quieter in terms of on-diary events. Bitcoin has continued to be the focus for many investors as ETF speculation and whispers continue to make the rounds.
On Wednesday we’ll see the latest OECD economic outlook, which can give an insight into the health of the global economy. While unlikely to move the dial considerably for markets it can be a useful barometer for investors with a macro outlook in mind.
ETF speculation is still governing the movements of markets such as bitcoin at the moment, with rumours of major institutions continuing to meet with regulators ahead of a potential starter pistol on a new market for trading the cryptoasset. Bitcoin continues to tread water as a result, some weeks after a significant price surge now.
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