Bitcoin and Ethereum unmoved as inflation numbers come in lower than anticipated
Number one and two by market cap, Bitcoin (BTC) and Ethereum (ETH) have barely moved since yesterday, despite BTC having a quick peek above $26k following the latest Consumer Price Index numbers.
The rest of the market continues to show bruises from the sell-off earlier in the week.
The monthly change in US inflation data came in at 4%, just below the expected rise of 4.1%, which makes a strong case for the Federal Reserve to press pause on rate hikes this week, say market commentators.
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 $1.054 billion.
What Bitcoin did yesterday
We closed yesterday, June 13, at a price of $25,918. The daily high yesterday was $26,376, and the daily low was $25,728..
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $502.04 billion. To put it into context, the market cap of gold is $12.945 trillion and Visa is $467.88 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $13.029 billion.
Fear and Greed Index
Fear and Greed is 46, today, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 49.09. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 39.30. 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: Editor’s picks
FCA’s new crypto advertising rules met with mixed industry response
ChatGPT urges crypto conference panel not to become over-reliant on AI
Mt. Gox customers will have to wait until November to recover lost Bitcoin funds
Sam Bankman-Fried: A tissue of lies soaked with fake tears?
Three-in-four wealth managers are gearing up for more cryptocurrency exposure
Crypto.com granted FCA licence to operate in UK
Q&A with Duncan Coutts, Principal Technical Architect at IO Global
Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’
MPs are falling silent over potential of cryptocurrency
Erica’s ‘Crypto Wars’ handed honours in Business Book Awards
Crypto AM: Features
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
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
Crypto on the catwalk
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.