Bitcoin puts the afterburners on and zips past $73,000 to claim another all-time high

BITCOIN has seemingly consolidated above $72,000, pushing straight through $73,000 to trade at $73,260 this morning, up 2.5% overnight. 

The price of Ethereum is up 2% with the original smart contracts crypto currently trading for $4,050. The Dencun upgrade is set for release on the Ethereum network today. The aim is to introduce a new way for layer-2 networks to settle transactions on Ethereum, thereby reducing fees in the long run.

There are very few red candles in crypto markets today. AVAX, ALGO and Aave are among the cryptocurrencies that have delivered notable returns overnight, each posting 24-hour rises of 13% or more. 

In the Markets

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Total crypto market cap

$2.75 trillion (+1.6%)

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What Bitcoin did yesterday

 Daily high $72,916 |  Daily low $68,845

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Bitcoin market capitalisation

$1.42 trillion (+2.5%)

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Bitcoin volume

$63.21 billion (+10.83%)

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CoinDesk Large Cap Select Index 

-2.15%

The CoinDesk Large Cap Select Index (DLCS) measures the market cap weighted performance of some of the largest cryptocurrencies. 

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SP500

+1.12%

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Fear and Greed Index

90 (Extreme Greed) 

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Bitcoin’s market dominance

53.90

The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.

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Relative Strength Index (RSI)

‍76.39

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.

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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.

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