Bitcoin, Ether Coil as Crypto Traders in Limbo After Halving

Bitcoin and Ether, the leading cryptocurrencies, are in a state of uncertainty following the halving event. Both digital assets have been trading within narrow ranges as traders struggle to determine the next direction to take. Bitcoin is currently trading at over $66,600, while Ether is priced at $3,240. The market has experienced a sense of calm after a period of volatility caused by geopolitical tensions and the anticipation surrounding the halving. Traders are hesitant to make significant moves, with market volatility remaining relatively low. Indecisiveness among traders is evident in the lack of clear bullish or bearish sentiment. The CoinDesk 20 Index, which measures the market cap of the largest digital assets, has remained flat at 2,343. Negative news, such as the SEC’s delay of an ETF application and President Joe Biden’s comments on crypto mining, has weighed on the market. However, some believe that the recent pullback and the clearing of leveraged long liquidations have positioned the market at a respectable level. Despite the uncertainty, crypto investors are holding onto their coins, potentially anticipating higher prices in the long term.