Bitcoin has been trading between $1114-887 this week, according to the BLX, in extremely volatile market conditions with intense bearish momentum. The Network Hashrate gained 3.24% on March 3rd, and has increased 42.48% year to date.
The most important fundamental news this week has been the back and forth exchange between the Bitcoin Unlimited (BU) and Bitcoin Core (BC) factions. BU miner signalling continues to gain ground, up 10% this week. Nodes however, remain heavily in BCs favor.
Meanwhile, the previous quarterly futures contract from OKCoin closes this week. Below is a chart showing the quarterly contract open dates (orange), the previous quarterly moving to biweekly (blue), and the previous quarterly contract closing (yellow).
Volatility during these three weeks has previously signaled a bullish exhaustion, and a bearish upcoming quarter. Stability has signaled accumulation, and the bottom of bullish continuation. The spot price has been extremely volatile in this time period, which indicates a bearish upcoming quarter.