Cryptocurrency Market Remains Cautious Amid Low Volatility

The cryptocurrency market remains cautious on August 13, with investor sentiment leaning towards selling over buying. Bitcoin and Ethereum prices have shown little change in the past day, trading at around $63.5K and $1.9K respectively.

According to Glassnode, the indicator recalculated in terms of the amount of bitcoin has dropped to its lowest since 2019, linking the risk of a new downward move to few buy orders, high leveraged positions, and low trading activity.

Despite this, some experts maintain positive long-term expectations. Zach Pandl, head of research at asset management company Grayscale, believes that the price of Bitcoin has stabilized and the market is approaching the end of the latest bear cycle.