Bitcoin starts the week on a multi-month high before dipping
📉 Soft start to the week – Bitcoin dips to $103K after hitting $107K earlier today
💎 Ethereum lags – ETH down 4%+ over 24 hours, and broader altcoin weakness persists.
📊 Sentiment holds – Fear & Greed Index remains in Greed, but RSI signals caution.
CRYPTOCURRENCY markets are off to a slower start this week following a multi-week run that saw Bitcoin (BTC) and others post impressive gains over 30 days.
This morning, BTC is trading just above $103,000, marking a mild pullback as traders reassess near-term momentum.
Ethereum (ETH) and other large-cap altcoins have posted deeper losses, with ETH down more than 4% over the past 24 hours. Several smaller-cap names saw even sharper reversals, continuing the pattern of higher volatility lower down the market-cap board.
Despite the price retreat, sentiment remains buoyant. The Crypto Fear & Greed Index still sits in 'Greed' territory, though Bitcoin’s Relative Strength Index (RSI) has edged lower, approaching the neutral-oversold zone, a potential signal that the recent rally may need to cool off before another leg higher.
Traders will be watching closely to see if crypto can consolidate around current levels or if a broader pullback is on the cards.
Is this just a breather before another move higher, or the start of a deeper correction? The next few sessions may set the tone heading into the latter half of the month.
In the markets…
🌍 Total crypto market cap ⬇️
The global cryptocurrency market capitalisation is approximately $3.25 trillion, reflecting a 1.92% decrease over the last 24 hours.
🟠 Bitcoin (BTC) ⬇️
Price: Currently trading at around $103,184 marking a 0.72% decrease in the last 24 hours.
Daily high: Approximately $106,518
Daily low: Approximately $102,381
📈 S&P 500 ⬆️
The S&P 500 index is up about 0.7% since yesterday.
🥳 Fear & Greed Index
The Crypto Fear & Greed Index currently stands at 71/100, indicating “Greed” among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The RSI for Bitcoin is approximately 43, with 70 and above indicating an overbought position, while 30 and below indicates that the asset is oversold.
Post Script…
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.
