Markets stable as fourth Bitcoin halving cycle begins

THE Bitcoin halving was deployed on the Bitcoin network on Friday, meaning that the rewards paid to miners will be half of what it used to be going forward.

The markets are generally stable following the update, with Bitcoin trading in the green by $65,895 this morning, its price up by 1.5% over 24 hours. 

Ethereum is following the market leader, trading in the green by roughly 1%, and so too Solana, which at $153 has shown returns of 0.9% overnight. 

Chainlink and Polkadot are among the big movers of the day on the Luno platform, both gaining by more than 4% in price over 24 hours. 

Investors will be keeping a close eye to see where the markets go after the halving. 

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In the Markets

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Total crypto market cap

$2.42 trillion (+1.50%)

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What Bitcoin did yesterday

Daily high $66,459 |  Daily low $64,527

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Bitcoin market capitalisation

$1.3 trillion (+1.78%)

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Bitcoin volume

$24.90 billion (+11.78%)

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CoinDesk Large Cap Select Index 

+0.31%

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

-0.88%

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Fear and Greed Index

62 (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

55.07

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)

53.42

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.