Crypto markets down but Bitcoin showing signs of recovery
Key takeaways
🔻 Bitcoin slips 2% - BTC briefly dipped to $102K before rebounding to $105K.
📉 Altcoins retreat - ETH and others erased most of the week’s gains.
😐 Sentiment turns Neutral - Fear & Greed Index slides as global tensions rise.
📊 Weekly trend holds up - Despite the drop, some 7-day charts stay positive.
Crypto markets are down today as news of geopolitical unrest ripples through global markets. Bitcoin (BTC) is down more than 2% overnight, bouncing off a daily low of around $102,000 to currently trade at roughly $105,000. Ethereum (ETH) and others have seen deeper price declines, shedding most of the week’s gains but still ending the week on relatively even footing. Against this backdrop, the Fear and Greed Index has slid back into 'Neutral' as investors absorb a mix of uncertainty stemming from trade tensions and the latest conflict in the Middle East.
Taking a step back and looking at the 7-day chart, things appear somewhat healthier, with many cryptocurrencies still showing positive performance over the week. Bitcoin’s price has recovered sharply after yesterday’s initial investor reaction, but will it continue to gain momentum over the weekend?
In the markets…
🌍 Total crypto market cap ⬇️
The global crypto market cap is approximately $3.23 trillion, reflecting a 4.5% decline over the past 24 hours
🟠 Bitcoin (BTC) ⬇️
Price: $104,998, down 2.3% in the last 24 h
Daily high: $108,369
Daily low: $103,081
📈 S&P 500 ⬆️
SPY is currently up about 0.38% since yesterday’s close.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 54/100, indicating a neutral sentiment among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 40, well within the neutral zone (30–70), down from around 62 previously.
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.
