Bitcoin and Ethereum hold key levels after weekend trading
It’s been a weekend of steady trading in Bitcoin and Ethereum markets. Bitcoin continues to test the key threshold of $37,000 this morning, while Ethereum hangs onto $2,000.
The large-cap crypto market seems to be less dependent on the price movements of other coins this morning, as some retrace while others rally. Polygon is in the green by 7%, while Chainlink has gone the other way, posting a 5% loss overnight. Solana and Cardano are also down on the day, as Cosmos and Polkadot post green candles.
Friday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
Total crypto market cap
🔵 $1.41 trillion
🔻 0.47%
What Bitcoin did yesterday
🔺 Daily high $37,215
🔻 Daily low $36,761
Bitcoin market capitalisation
🟠 BTC $712.88 billion
🟡 Gold $12.82 trillion
💳 Visa $597.38 billion
Bitcoin volume
Total spot trading volume $13.177 billion
🔺 2.19%
Ethereum staking entry queue
12 hours 58 minutes
SP500
🔺 1.56%
FTSE/JSE Top 40
🔺0.57%
Fear and Greed Index
Bitcoin’s market dominance
52.23
Relative Strength Index (RSI)
76.11
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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Three-in-four wealth managers are gearing up for more cryptocurrency exposure
Crypto.com granted FCA licence to operate in UK
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MPs are falling silent over potential of cryptocurrency
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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.