Bitcoin volatility slumps to lowest in two months

Bitcoin prices moved lower on Friday, but held within the short-term range that has the cryptocurrency on track for the quietest week since October 2018.

On Friday, a single Bitcoin

BTCUSD, +0.00%

 was fetching $3,563.57, down 0.9% since Thursday at 5 p.m. Eastern time on the Kraken exchange. The best-known digital currency has traded inside the $3,425-$3,614 range on the week, the narrowest since the week beginning Oct. 22, 2018.

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The slowdown in price activity has dragged the 3-month volatility index to 3.49%, its lowest level since Nov. 22, according to Buy Bitcoin Worldwide.

“We have seen a few sudden spikes but that’s mainly because volumes have tracked off. they are down about 20% from a week ago,” said Mati Greenspan, senior market analyst at eToro.

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Bitcoin volatility index

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Cryptocurrencies other than Bitcoin — commonly referred to as altcoins — were trading lower on Friday. Ether

ETHUSD, +0.10%

 was down 1.4% at $114.81, Litecoin

LTCUSD, -0.09%

fell 1.2% to $32.02, Bitcoin Cash

BCHUSD, +0.00%

lost 1.9% to $125.90 and XRP

XRPUSD, +0.00%

was down 1% at 31 cents.

Bitcoin futures finished mostly unchanged on Friday. The Cboe Global Markets February contract

XBTG9, -0.71%

ended the session down 0.1% at $3,520, while the CME Group February contract

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