Bitcoin holding firm above $70k as markets look buoyant again
BITCOIN is back above $70,000 today, up by 1.5% overnight. Ethereum has also inched back into the green, priced at $3,592 just now.
Most large-caps are following a similar pattern, regaining some ground from yesterday. Bitcoin Cash is the standout of the day, surging by more than 17%, at the time of writing.
Bitcoin trading volumes are back up this morning, showing a 25% increase from yesterday, generally an indication of increased investor interest due to changes in market sentiment.
In the Markets
Total crypto market cap
$2.63 trillion (-2.21%)
What Bitcoin did yesterday
Daily high $71,670 | Daily low $68,428
Bitcoin market capitalisation
$1.38 trillion (+1.41%)
Bitcoin volume
$42.5 billion (+25.36%)
CoinDesk Large Cap Select Index
+0.81%
The CoinDesk Large Cap Select Index (DLCS) measures the market cap weighted performance of some of the largest cryptocurrencies and gives a general indication of the overall performance of the crypto market.
SP500
+0.86%
Fear and Greed Index
81 (Extreme greed)
The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.
Bitcoin’s market dominance
53.96
The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.
Relative Strength Index (RSI)
56.23
Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price, while 30 or below indicates an oversold or undervalued condition.
Cautionary Notes
It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
