Avalanche and Polygon see sell-offs as Bitcoin carries on bobbing around $26k
Bitcoin starts the week down by 0.19% while Ethereum is deeper in the red by 1.16%. It’s the same story across most cryptocurrency markets this morning, with a few younger smart-contract cryptos such as Polygon and Avalanche seeing slightly deeper sell-offs.
The Fear and Greed Index needle continues to hover in Fear, as it’s been doing for the last few weeks, while the Bitcoin Relative Strength Index sits around 40, not quite undervalued but also far from being overbought.
Friday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.03 trillion
🔻 0.53%
What Bitcoin did yesterday
🔺 Daily high $25,897
🔻 Daily low $25,663
Bitcoin market capitalisation
🟠 BTC $502.597 billion
🟡 Gold $12.88 trillion
💳 Visa $514.31 billion
Bitcoin volume
🪣 Total spot trading volume $8.502 billion
🔺 47%
SP500
🔺 0.14%
FTSE/JSE Top 40
🔺 1.26%
Fear and Greed Index
Bitcoin’s market dominance
📊 49.58
Relative Strength Index (RSI)
💪 41.61
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.
📣 What they said yesterday
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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. City PM, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.