Crypto markets stay static, but is further pullback on the table?
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🟠 Bitcoin steadies - price is down 3% over the past 7 days.
📊 “Buy the dip" mentions soar on social media - often a negative signal.
🚀 Avalanche (AVAX) holds gains - +13 over 7 days.
The floor continues to hold, for now, with prices largely unmoved since yesterday across the board. Bitcoin is trading just below $113,000 this morning, down 0.15% since this time yesterday, with only BNB up more than single digits of the major cryptocurrencies. Solana (SOL), Hyperliquid (HYPE) and Cronos (CRO) are all down more than 1%, at 3%, 7% and 3% respectively.
Flat markets come after US Federal Reserve Chair Jerome Powell yesterday flagged that asset valuations are “quite high” by several measures. His comments were largely taken as indicating a continued cautious stance after last week’s rate cut.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.9 trillion, down 0.07% from this time yesterday.
🟠 Bitcoin (BTC) ↗️
Price: $112,859 down 0.15% in the last 24 h.
Daily high: $113,351.91
Daily low: $111,535.57
📈 S&P 500 ↗️
SPY is currently down 0.55% since yesterday’s close.
📈 Nasdaq 100 ↗️
The Nasdaq 100 is down about 0.73% overnight.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 39/100, in Fear.
*Data is correct as at 24 September, 08:12 GMT.
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.
