Green candles back in vogue as red becomes oh-so-yesterday

GREEN has returned to being the dominant colour in the crypto markets after the blood-letting of the previous 48 hours.

Bitcoin, which had clumsily stumbled from its $73,780 all-time high to an alarming $60,771 yesterday morning, is today gently caressing itself above the $67,000 and looking for support around $67,200 - a level it was clearly attempting to gain a foothold on at the start of the week.

Bitcoin may be down eight per cent over seven days, but it has regained six per cent over 24 hours. Zoom out to 28 days, and you'll see it's up almost 30%.

Elsewhere, Etheruem's nail-biting wobble down to $3,140 yesterday is now a speck in the rear-view mirror with ETH currently climbing above $3,540.

Honourable mentions too for JASMY on a 24% lift, Marlin's POND at 14%, and Dogecoin with 13%.

In the Markets

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Total crypto market cap

$2.66 trillion (+12.7%)

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What Bitcoin did yesterday

 Daily high $68.115.26 |  Daily low $60,807.79

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Bitcoin market capitalisation

$1.32 trillion (+5.55%)

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Bitcoin volume

$56.3 billion (-4.29%)

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CoinDesk Large Cap Select Index 

+8.47%

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

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SP500

+0.89%

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Fear and Greed Index

78 (Extreme Greed) 

The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.

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Bitcoin’s market dominance

53.62

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)

54.85

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.