Market Wrap: Bitcoin Hovers Around $27K While ETH/BTC Pair Goes Bullish

Bitcoin takes a break after record price-setting Sunday while some traders are plowing BTC into ETH.

Bitcoin’s price has ridden a roller coaster on lower spot volume while options traders are ready to bet on ether FOMO.

With all this bullish bitcoin activity, the ETH/BTC pair has gone bearish, a sign traders are selling ether for bitcoin.

The market is bullish on both cryptocurrencies, for different reasons.

Bitcoin fell to the $26,000 level after it hit above $28,000 on Sunday, yet markets remain bullish on both retail and institutional interest.

Despite choppy price action, news over the past few days has been extraordinarily bullish for the leading cryptocurrency.