Crypto volatility falls back

So far today, in relative terms it has been a very contained session in terms of the price action seen in both Bitcoin and Ethereum. Now of course we know that can change on a dime, but for the time being the ranges and price elasticity appear to be condensing quite markedly by recent standards. The price action on Bitcoin has been covered so far today by $2000 on the very wide outside and for Ether it is around $80 so far. That by recent standards is tight, as we have usually encompassed daily ranges of at least $200 and a lot more sometimes too. However, the day is yet young, so all this could turn around again, but for the being it looks like price consolidation via sideways trading could be theme for the next few hours. ETHUSD has traded in a range today so far covered by 1530 to 1610. It is currently trading around 1560