One analyst interpreted the move as an arbitrage play.
Analysts see speculative fever rather than informed bets on the blockchain’s future technological potential.
Atcoins are rising, ether hits another all-time high and bitcoin’s correlation to gold drops to zero.
Ethereum Classic pops 53%, while bitcoin recovers and ether pushes back toward its all-time high.
Bull frenzy grips crypto markets as the hunt for yield goes beyond bitcoin and ether.
As BTC's price continues lower, one possible benefit is a decrease in the crypto's volatility.
The price of bitcoin has changed little over the past 24 hours, despite the asset’s notorious volatility.
Volumes on the CoinDesk 20 eight spot BTC venues was over $8 billion for the first time since Feb. 23.
With all this bullish bitcoin activity, the ETH/BTC pair has gone bearish, a sign traders are selling ether for bitcoin.
There appears to be strong support around $30,000, according to traders.
Bitcoin’s huge sell-off by over $8,000 in the past 24 hours while options traders clearly are betting that ether is overvalued.
Bitcoin’s price crested an all-time high $40,000 mark while DeFi total value locked hits a new record on market fervor.
Profit-taking helped lead bitcoin lower Monday while more investors are eyeing ether with great interest.
Bitcoin slipped below $18,000 again Thursday as ether’s volatility in 2020 shows a different dynamic.
Bitcoin fell below $18,000 Wednesday while DeFi closing in on $15 billion locked may have more to do with price than actual cryptocurrency parked there.