Battle lines are drawn as Bitcoin bulls prepare to fight for $23,000
It seems the Bitcoin bulls aren’t ready to let go of $23,000 just yet, seeing that the price of the leading crypto by market cap has again been pushed above this key level since it backtracked the previous day.
Bitcoin was briefly back up above $23,000 last night – even touching $23,800, while Ethereum moved up to $1,600. This puts Bitcoin up above 10% over the last week, and Ethereum in the green by 4%.
Other noteworthy movements include that of Cardano, which has added 4.5% to its price since yesterday, and Solana, also in the positive by 5%. Uniswap and Chainlink also continue to collect their share of daily green candles.
Yesterday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Data can be found at https://terminal.bytetree.com/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market this morning was $1.049 trillion.
What Bitcoin did yesterday
We closed yesterday, January 25, at a price of $23,117. The daily high yesterday was $23,722, and the daily low was $22,406.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $445.539 billion. To put it into context, the market cap of gold is $12.779 trillion and Tesla is $456.07 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $30,685 billion. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
Volatility
The price volatility of Bitcoin over the last 30 days is 36.59%.
Fear and Greed Index
Market sentiment today is 54, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 44.35. Its lowest ever recorded dominance was 37.09 on 1 January 2018.
Relative Strength Index (RSI)
The daily RSI is currently 79.42. 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 – an RSI reading of 30 or below indicates an oversold or undervalued condition.
Convince your Nan: Soundbite of the day
“More Bitcoin Lightning Network channels were created in 2022 than ever before.”
Bitcoin Magazine
What they said yesterday
Start small…
Elon’s vision?
The brass is interested…
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Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Contributors
Crypto AM: In Conversation with James Bowater
Crypto AM: Tomorrow’s Money with Gavin S Brown
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Tiptoe through the Crypto with Monty Munford
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Crypto AM: Events
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.
All information is correct as of 08:00 BST