Market Wrap: Higher Volatility Expected in Bitcoin and Ether

Market Wrap: Higher Volatility Expected in Bitcoin and Ether
Cryptocurrencies were mostly lower on Wednesday as bitcoin traded in a tight range around $56,000. Technical indicators suggest downside is limited around the $53,000 support level, which could keep buyers active toward $60,000 resistance.Trading volume is expected to decline over the next few days, especially on the U.S. Thanksgiving holiday Thursday. Still, some analysts expect volatility to increase in the bitcoin and ether options market as November comes to a close.Rising volatility could cause sharp price moves over the next few days, which could discourage buyers from holding onto positions for an extended period.In observance of the U.S. Thanksgiving holiday,…