The new bar: $122,800+
📈 New Bitcoin high - Bitcoin hit a fresh all-time high of $122,800 this morning, with most of the crypto market following its lead.
🤑 Greed on the street - The Fear and Greed Index is firmly in "Greed," while the RSI shows overbought levels.
🏛️ Crypto week in Washington - US lawmakers are reviewing major crypto bills this week, adding to the regulatory momentum.
📊 CPI data incoming - Tomorrow’s US inflation data could be pivotal for rate cut expectations, with September in focus.
It’s greed in the markets as we see another week and another all-time high for Bitcoin, reaching roughly $122,800 this morning. Interestingly, apart from a few outperformers, most of the market is closely tracking Bitcoin’s performance, unlike the usual pattern where altcoins show outsized gains or dips. Most crypto assets have now delivered profits to investors over 24 hours, as well as over the past 7 and 30 days. The Fear and Greed Index is firmly in "Greed," while the Relative Strength Index sits deep in overbought territory, often a warning sign of incoming volatility.
Analysts say the latest surge in optimism could be driven by continued institutional buying and regulatory progress in the US. This week is also being dubbed "Crypto Week" in Washington, where lawmakers are set to consider key pieces of crypto legislation. Meanwhile, US CPI numbers are expected tomorrow, which could give the Federal Reserve, and investors, more clarity on whether the path is clear for rate cuts to begin in September, a date many have now circled on the economic calendar.
For now, investors appear content to keep buying, even as the US maintains its threaten-and-delay approach on trade tariffs. Whether this optimism will last remains to be seen, but many analysts say there’s more room for upside price movement.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.81 trillion, up 3.42% over the past 24 hours.
🟠 Bitcoin (BTC) ↗️
Price: $122,808 up 4.08% in the last 24 h
Daily high: $122,798
Daily low: $117,784
📈 S&P 500 ↘️
SPY is currently down about 0.33% since yesterday’s close.
🥳 Fear & Greed Index
The Crypto Fear & Greed Index stands at 70/100, indicating Greed among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 83, well into being overbought.
Data is accurate as at 07:56 GMT, 14 July.
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.
