Week of 11 March 2019: both assets rise on volume below the twelve-week average

What the data shows. The week bottomed then rose: BTC's low of 3,810.43 and ETH's low of 128.52 both arrived at 14:00 UTC on Thursday 14 March, and both weekly highs came in the early UTC hours of Saturday 16 March (4,056.98 for BTC at 05:00, 144.47 for ETH at 04:00). ETH's largest hourly move fell in that same Saturday hour (+2.58%), and BTC's largest hourly move of +1.26% came in the same hour, in the hour starting 04:00 UTC on Saturday 16 March. BTC finished at 69.2% of its weekly range, in the upper third. Realised volatility, the size of the actual swings scaled to a yearly figure, was 26.5% for BTC and 46.4% for ETH. Against the 56 weeks of history held here, this week's BTC return sat at the 52nd percentile and ETH's at the 62nd.

What it does not show. Dollar volume came in below the prior twelve-week average for both assets, so the rise was not accompanied by heavier trading. Volume data records how much changed hands, not who was buying or whether the move reflects new positioning rather than thin selling. The week also sits 60.05% below BTC's 52-week high and 83.48% below ETH's, and a single up week cannot establish whether that longer decline has turned.

What a careful desk would check. Three of the prior four weeks were up for BTC (2.07%, 1.71%, 2.88%), so this week extended a modest run rather than reversing one. ETH's realised volatility of 46.4% was higher than BTC's 26.5% this week, and the gap matters for sizing: a position built on BTC's swing can be too small for ETH's. A desk would compare the 2.58% hourly move with its own stop distances and ask whether exits would have filled inside that hour.

Ether against Bitcoin. The two assets moved closely (hourly correlation 0.87), and both rose, but ETH rose more, lifting the ETH/BTC ratio by 0.76%. That is a small relative shift inside a broad move rather than one asset separating from the other.