Looks like green's back on the menu!

CRYPTO prices have improved solidly overnight, with Bitcoin briefly reclaiming the $63,000 level, returning 2.9% over 24 hours to investors. The flagship cryptocurrency is, this morning, sitting at $62,930 and appears to be attracting interest.

Ethereum has added 2% to its price over the same timeframe. It’s a similar story across most of the Luno platform, with Solana, Avalanche and Aave seeing notable spikes in price. The latest push in positive sentiment across the markets also sees the majority of cryptos back in the green over seven days. 

In other news, JPMorgan said recently it doesn’t see legal action from the SEC against certain crypto companies in the US as an obstacle to an Ethereum ETF eventually being approved.

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In the Markets

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Total crypto market cap

$2.32 trillion (+1.76%)

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What Bitcoin did yesterday

Daily high $63,413 |  Daily low $60,671

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Bitcoin market capitalisation

$1.24 trillion (+3.27%)

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Bitcoin volume

$26.085 billion (+7.08%)

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CoinDesk Large Cap Select Index 

+3.07%

The CoinDesk Large Cap Select Index (DLCS) measures the market cap weighted performance of some of the largest cryptocurrencies and gives a general indication of the overall performance of the crypto market. 

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SP500

+0.51%

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Fear and Greed Index

52 (Neutral) 

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

54.73

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)

49

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.