Bitcoin {{BTC}} and ether {{ETH}} started the trading week fairly stable as many major financial centers around the world remained closed over the long Easter weekend.
At the time of writing, bitcoin was stable at $70,000, while ether was trading near $3,600, according to data from CoinDesk Indices. The CoinDesk 20 (CD20), a measure of the largest and most liquid digital assets, rose 1.9%, trading at 2,750.
โBTC and ETH showed relatively calm movement last week compared to other weeks in March, with weekly realized volatility below 50%,โ said Jun-Young Heo, derivatives trader at Singapore-based Presto Labs. in an email interview. โHowever, as the Bitcoin halving event is expected to occur around April 20, first-month options implied volatility remains elevated above 75%.โ
He also noted that funding rates remain inflated, with most large-cap perpetual futures on major exchanges seeing funding rates of 6bps to 8bps and global open interest for BTC and ETH perpetual futures reaching 35 billion dollars.
"Markets may return to a more volatile regime," he continued.
Meanwhile, QCP Capital wrote in a telegram note that bitcoin was recovering ahead of the long weekend due to positive inflows into bitcoin ETFs to the tune of $243.5 million on March 27. Coinglass data shows this inflow continued on March 28 with $182 million in additional inflow. .
