Bitcoin dips below key level
Bitcoin dipped by less than 1% to trade a notch below $30,000 this morning. Ether followed and is down by 1.6%.
Other smart contract cryptos are deeper in the red, after posting strong numbers last week on the back of the XRP ruling. SOL (Solana) is down 4%, while AVAX (Avalanche) is in the red by more than 3%.
Bitcoin tested the same level below $30k yesterday to rebound later in the day. Will it follow the same pattern today?
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.2 trillion
What Bitcoin did yesterday
🔺 Daily high $30,335
🔻 Daily low $29,693
Bitcoin market capitalisation
🟠 BTC $582.410 billion
🟡 Gold $12.951 trillion
💳 Visa $511.01 billion
Bitcoin volume
🪣 Total spot trading volume $13.821 billion
SP500
🌅 24hrs +0.39%
Fear and Greed Index
Bitcoin’s market dominance
📊 50.14
Relative Strength Index (RSI)
💪 44.77
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
“It’s a big win for any crypto project currently trading on an exchange. The SEC has identified over 67 projects as unregistered securities. Again, if XRP is not a security, then certainly ETH is not. I wouldn’t be surprised to see someone file an Ethereum ETF in the coming months.”
Michael Nadau, analyst and author of The DeFi Report.
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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.