Bitcoin and Ethereum languish as cryptocurrencies remain still at start of week

It is looking like one of those rare days, or even maybe weeks, where any fluctuation in the prices of most cryptocurrencies is almost negligent.

Both Bitcoin and Ethereum, the leading two digital coins, eased 0.3% lower to US$19,199 and US$1,291 respectively.

Bitcoin has been trading within approximately six percentage points of its current value – either above or below – for the last three or so weeks.

Its largest rival has been flirting in this vicinity for around two weeks as prices seem relatively stagnant compared with recent crypto periods.

The world’s most popular digital asset has plummeted 72% in value from its all-time high (ATH) of over US$68,500 seen in November of last year.

After Bitcoin closed September 3% lower, it officially produced 10 consecutive months of red Heikin Ashi candles.

Ethereum, meanwhile, minorly outpaced Bitcoin in its decline, trading some 73% lower than its ATH seen almost a year ago.

The vast majority of the ‘top 100’ cryptos followed the lead of their two larger competitors, with 81 of them changing hands in the red on Monday morning.

Stellar was the standout underperformer, falling 2.6% to US$0.115, and was the only coin to lose more than 1% of its value in early trading as it slipped into the 25th most bought crypto.

In the so-called ‘top 20’, however, there were a couple of prominent overperformers, with Uniswap and UNUS SED LEO stealing the show, trading 0.8% and 1.9% higher respectively.

The minuscule price movements echoed across the digital asset market mirrored that of the UK’s blue-chip index.

FTSE 100 was changing hands 0.7% lower as the feeling that the first trading day (for most markets and sectors) of the fourth quarter was going to be an easily-forgotten, quiet one became more widespread.

Bleak financial data from global markets contributed to the lack of appetite for risk assets, which cryptos certainly are.