Cryptoverse: Listless bitcoin seeks summer spark

It’s a tense time for bitcoin investors. Watch. Wait. Don’t make the first move.

The capricious cryptocurrency’s been uncommonly quiet over the past four weeks, bound in the range of $28,452 and $25,800. Even the end of the U.S. debt ceiling saga did little to whet risk appetite.

Bitcoin’s volatility index is near 64, well below the 2023 peak of 116.5 touched in January, according to CryptoCompare. Overall daily cryptocurrency spot trading volumes – above $20 billion for most of the year – have languished at around $10.6-$12 billion in the last two weeks, data from The Block shows.