Bitcoin cs Excites Again, Cardano-Ethereum is the Champion

Cryptocurrency prices moved again positively on Saturday (3/7/2021) afternoon Indonesian time, after briefly leveling off on Friday (2/7/2021) afternoon Indonesian time.

Based on data from CoinMarketCap at 14:02 WIB, the majority of the price movements of seven cryptocurrencies with capitalization were observed to be strengthening.

Bitcoin shot 2.34% to a price level of US$ 33,697.53/coin or equivalent to Rp 489,625,111/coin (assuming an exchange rate of Rp. 14,530/US$), Ethereum flew 5.54% to US$ 2,145.02 (Rp 31,167). .141/koin), Cardano, which now shifts Binance Coin's position to 4th position at noon today, is trading at a price of US$ 1.38/coin (Rp 20,051/coin), skyrocketing 6.55%.

Next, Binance Coin jumped 2.47% to a price position of US$ 286.72/coin or equivalent to Rp 4,166,042/coin, Dogecoin increased 2.1% to US$ 0.2441/coin (Rp 3,547/coin), and Ripple rose 1.94% to US$ 0.6561/coin (Rp 9.553/coin).

Meanwhile, for stablecoins, Tether strengthened slightly, tending to level off at a price level of US$ 1 per coin (Rp 14,530/coin).

On Friday afternoon yesterday, Bitcoin traded tended to stagnate, because buyers and sellers seemed to be at a dead end. But at noon today, Bitcoin and other cryptocurrencies are back on their feet.

Despite the revival, Bitcoin's volatility has remained high despite rangebound trading since mid-May, according to options data provider Skew.

This suggests traders are not complacent given the recent price stabilization. There was still some uncertainty in the options market in early July this year.

“The $34,000 level is the key level for an accelerated move up or down with the highest gamma exposure for puts and calls,” Pankaj Balani, CEO of Delta Exchange, wrote in an email to CoinDesk.

"As spot trades lower, market participants haven't found their footing yet, as long as traders write upside exposure, a rangebound play with more downside risk seems likely." Balani added.

On Friday afternoon yesterday, Bitcoin traded tended to stagnate, because buyers and sellers seemed to be at a dead end. But at noon today, Bitcoin and other cryptocurrencies are back on their feet.

Despite the revival, Bitcoin's volatility has remained high despite rangebound trading since mid-May, according to options data provider Skew.

This suggests traders are not complacent given the recent price stabilization. There was still some uncertainty in the options market in early July this year.

“The $34,000 level is the key level for an accelerated move up or down with the highest gamma exposure for puts and calls,” Pankaj Balani, CEO of Delta Exchange, wrote in an email to CoinDesk.

"As spot trades lower, market participants haven't found their footing yet, as long as traders write upside exposure, a rangebound play with more downside risk seems likely." Balani added.