Bitcoin and Ether Trade in Tight Ranges Post-Halving: Market Analysis and Liquidation Data

Bitcoin (BTC) and ether (ETH) are currently trading in tight ranges as traders reassess macro conditions following the recent halving event. According to Thomas Kim, a trader at Presto, market volatility has been relatively subdued since the halving, with realized volatility lower than implied volatility of BTC options.

In the last 12 hours, $52.46 million in positions have been liquidated, with Ether and BTC positions being the largest. Additionally, there have been $6.86 million in HBAR liquidations and $1.83 million in PEPE liquidations, reflecting the uncertainty in the market.

Justin d’Anethan from Keyrock noted that traders are struggling to make decisions on their positions, leading to a stagnant market. He mentioned that negative news, such as the SEC’s reluctance to approve ETF applications and President Joe Biden’s comments on crypto mining, are weighing on the market.

Despite the challenges, d’Anethan pointed out that the recent pullback in prices may have cleared some excess in the market, leaving room for potential growth. Coinglass data also revealed that during the recent geopolitical tensions between Iran and Israel, over $1.4 billion in long positions were liquidated.

Overall, with the halving event behind us, crypto investors are holding onto their coins in anticipation of higher prices in the long term. The market remains uncertain, but traders are hopeful for a bullish turn in the near future.