Bitcoin, ether rise as altcoins lag in low-volatility trade

Bitcoin BTC$66,518.79 and ether (ETH) both rose around 0.9% overnight while the broader altcoin market lagged on Thursday.

BTC was recently trading at $67,000 following a brief touch of $66,000 on Wednesday. Ether, at $1,970 after bouncing off $1,924, is struggling to break through the psychological $2,000 price level.

Volatility has waned since the selloff on Feb. 5. Two subsequent weeks of consolidation have left investors wondering whether this is the calm before another stormy move to the downside, or whether the market is establishing a macro low before rising back toward 2025 levels.

World Liberty Financial's Mar-a-Lago forum on Wednesday failed to provide a bullish catalyst despite being attended by CFTC Chairman Michael Selig and executives from companies including Goldman Sachs.

From a macro perspective, bitcoin remains in a downtrend since hitting a record high of $126,600 in early October. It has notched a series of lower highs and lower lows with periods of choppy consolidation in between each major move.

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Michelle Ross