3 Emerging Crypto Trends to Watch as Bitcoin Price Consolidates

BTC's price is range bound, giving other assets a chance to gain a foothold in an otherwise falling market.< /p> Newsletter

This week, the price of Bitcoin (BTC) fell as a higher-than-expected Consumer Price Index (CPI) report showed high inflation remains a lingering challenge despite a wave interest rate hikes from the US Federal Reserve. Interestingly, the market's negative reaction to a high CPI print seemed priced in by investors, and BTC and Ether (ETH) prices recouped all of their intraday losses to end the day in the dark.

A quick look at Bitcoin's market structure shows that even with the post-CPI print drop, the price is still trading in the same price range as it has over the past 122 days. Adding to this dynamic, Cointelegraph market analyst Ray Salmond reported on a unique situation where Bitcoin's forward open interest is at an all-time high, while its volatility is also near record highs.

These factors, along with other indicators, have historically preceded explosive price movements, but history will also show that it is nearly impossible to predict the direction of these movements.

So, aside from several metrics hinting that a decisive price move is brewing, Bitcoin is still doing more of the same it has been doing for the past 4.5 months. That being the case, it may be time to start looking elsewhere for emerging trends and possible opportunities.

Here are a few data points that have always intrigued me.

The price of ETH has lost some of its luster in the post-merger era, and the asset is now reflecting the bearish trend that dominates the rest of the market. Since the merger, the price of ETH is down 30% from its high of $2,000, and it's likely that a good...