#Write2earn Crypto Market Analysis: #Bitcoin and $ETH Trading Ranges #Post-Halving #BullOrBear #Analysis

Bitcoin (BTC) and ether (ETH), leading the crypto market, are currently maintaining narrow trading ranges as traders evaluate broader economic conditions following the halving event.

As of now, bitcoin is priced above $66,600, while ether is being exchanged at $3,240.

Following a period of turbulence, marked by geopolitical tensions and anticipation surrounding the bitcoin halving, a sense of stability has returned to the market. Both bullish and bearish sentiments are subdued, with neither side taking decisive control of price movements.

Thomas Kim, a trader at Presto, noted that market volatility has calmed somewhat post-halving. Recent three-day realized volatility has been lower than the implied volatility of BTC options, indicating that investors are still assessing macroeconomic factors.

Data from CoinGlass reveals that over the past 12 hours, liquidations totaling $52.46 million have occurred. While ether and BTC positions dominate, there are notable liquidations in other tokens like $HBAR and $PEPE .

Justin d'Anethan from Keyrock, a crypto market maker based in Asia, expressed in a Telegram interview that traders are currently indecisive, struggling to establish clear positions.

He mentioned a range of negative factors impacting the market, such as the SEC's intentions to delay ETF applications, President Joe Biden's remarks on crypto mining, and ongoing outflows from crypto investment products. However, d'Anethan also sees a potentially bullish aspect, suggesting that the recent pullback, triggered by leveraged long liquidations, has likely removed some speculative excess, leaving the market at a solid level with committed capital.

Coinglass data highlights that during Iran's missile attack on Israel over the April 12-13 weekend, more than $1.4 billion worth of long positions were liquidated.

Considering the halving event, crypto investors appear reluctant to part with their assets, possibly positioning themselves for long-term price gains.