Bitcoin and Ethereum claw back losses in wake of SEC action over Binance and Coinbase
Bitcoin has robustly returned to form following the sell-off earlier in the week.
The leading crypto by market cap has clawed its way back to start the day at just under $27k – up more than 4% over 24 hours.
Ethereum’s Ether is up 3%, while AVAX (Avalanche) has also gained a notable 3% in the last day.
On-chain analytics firm Glassnode says there’s strong support for Bitcoin in the $25.3k and $26.3k range. The BTC market saw significant capital outflows after the SEC’s aggressive actions yesterday, noted Glassnode, but quickly stabilised as the market leader found support at $25.4k.
Yesterday’s Crypto AM Daily
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 $1.122 billion.
What Bitcoin did yesterday
We closed yesterday, June 6, at a price of $27,238. The daily high yesterday was $27,313, and the daily low was $25,434.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $520.959 billion. To put it into context, the market cap of gold is $13.014 trillion and Visa is $477.98 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $24.013 billion.
Fear and Greed Index
Fear and Greed is 53, today, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 47.92. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 48. 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.
What they said yesterday
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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.