Flying high again! Bitcoin smashes ATH

• 📈 Bitcoin hits new ATH – BTC set a fresh all-time high of $111,534, triggering $607m in BTC ETF inflows
  
  
• 🔗 Crypto decouples from stocks – While the S&P 500 dips, crypto pushes higher
  
  
• 🍕 Bitcoin Pizza Day milestone – Rally lands on the 15th anniversary of the famous 10,000 BTC pizza transaction

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BITCOIN'S new high triggered over $600 million in BTC ETF inflows, signalling renewed interest from institutional investors, even with analysts noting that retail investors are yet to fully come to the party.

Altcoins are also riding the wave, with Bittensor (TAO) rallying more than 10% overnight.

This latest pump in crypto prices comes as US equities slow, weighed down by ongoing concerns over a US debt downgrade and President Trump’s proposed tax bill. The S&P 500 is down roughly 1.6% overnight. This recent decoupling from equities is notable, especially given how closely the two typically track.

Sentiment in crypto markets remains firmly in 'Greed' with Bitcoin’s Relative Strength Index (RSI) in overbought territory, an indication that markets may be heating up, but that there could be some volatility coming.

Fittingly, today is Bitcoin Pizza Day, marking 15 years since developer Laszlo Hanyecz paid 10,000 BTC for two pizzas. How times have changed.

Will this momentum carry Bitcoin to a new all-time high this week, and will the rest of the crypto market follow? Let’s see.

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In the markets… 

🌍 Total crypto market cap ⬆️

The global cryptocurrency market capitalisation is approximately $3.48 trillion, reflecting a 2.32% increase over the last 24 hours.

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🟠 Bitcoin (BTC) ⬆️

Price: Currently trading at around $110,832 marking a 2.66% increase in the last 24 hours.

Daily high: Approximately $111,534

Daily low: Approximately $106,185

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📈 S&P 500 ⬇️

The S&P 500 index is down about 1.61% since yesterday.

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🥳 Fear & Greed Index

The Crypto Fear & Greed Index currently stands at 73/100, indicating “Greed” among investors.

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📊 Bitcoin Relative Strength Index (RSI) (14)

The RSI for Bitcoin is approximately 64.9, 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.