Bitcoin in price discovery mode as others rally

📈 Bitcoin steadies near its record high — BTC is trading just under $110,000 after setting a new all-time high of $111,534 last week

🚀 Altcoins shine — Jupiter (JUP) surged 18% overnight, with Uniswap (UNI), Cardano (ADA), and Dogecoin (DOGE) also making notable gains

😬 Greed dominates sentiment — The Fear and Greed Index remains firmly in “Greed,” while Bitcoin’s RSI trends toward overbought territory

🏛️ Policy tailwinds build — US Treasury Secretary Scott Bessent says stablecoin regulation is “just the start,” signaling a broader commitment to digital assets

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CRYPTO markets are holding up well following last week’s all-time high for Bitcoin (BTC).

The leading cryptocurrency is currently trading just shy of $110,000 after carving out a floor around $107,000 over the past several days. Ethereum (ETH) posted a strong 3.2% price rise in the last 24 hours, but the real action is happening further down the market-cap leaderboard.

Jupiter (JUP) has rallied 18% overnight, continuing its recent momentum, while stalwarts like Uniswap (UNI) are up 9%. Cardano (ADA) and Dogecoin (DOGE) have also edged higher, reflecting renewed interest across both large-caps and altcoins.

That sentiment is reflected in the Crypto Fear and Greed Index, which continues to point to 'Greed'. At the same time, Bitcoin’s Relative Strength Index is creeping toward overbought territory, often a signal that some volatility could lie ahead. 

In regulatory news, US Treasury Secretary Scott Bessent reaffirmed the government’s commitment to advancing digital assets. Speaking to Bloomberg, Bessent said that passing the stablecoin bill was “just the start,” hinting at broader legislation to follow. The move could offer a clearer framework for institutional adoption, a potential long-term tailwind for crypto markets.

It will be an interesting week ahead. With BTC holding near highs and altcoins catching a bid, investors are watching closely to see whether this marks the start of a new price discovery phase, or if some profit-taking might be in order. 

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In the markets… 

🌍 Total crypto market cap ⬆️

The global cryptocurrency market capitalisation is approximately $3.46 trillion, reflecting a 2.43% increase over the last 24 hours. 

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🟠 Bitcoin (BTC) ⬆️

Price: Currently trading at around $109,852, marking a 3.5% increase in the last 24 hours.
Daily high: Approximately $110,078
Daily low: Approximately $106,802

📈 S&P 500 ⬇️

The S&P 500 index is down about 0.67% since yesterday. 

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🥳 Fear & Greed Index

The Crypto Fear & Greed Index currently stands at 69/100, indicating “Greed” among investors.

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📊 Bitcoin Relative Strength Index (RSI) (14)

The RSI for Bitcoin is approximately 66, with 70 and above indicating an overbought position, while 30 and below indicates that the asset is oversold.

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‍Post Script…

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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.