Bitcoin, Ethereum, Solana and others reverse as crypto markets end weekend in the red
The price of Bitcoin is down by roughly 1% since yesterday, while Ethereum has retreated by more than 2% this morning.
The market leader by market cap managed to sustain the key $37,000 threshold, despite this level being tested a few times over the weekend’s trading. Ethereum also continues to trade above $2,000.
Other cryptocurrencies such as Solana, Chainlink and Polygon have dipped deeper into the red, even as the Fear and Greed Index is still anchored in Greed.
Friday’s Crypto AM Daily
In the Markets
Total crypto market cap
🔵 $1.42 trillion
🔻 1.35%
What Bitcoin did yesterday
🔺 Daily high $37,819
🔻 Daily low $37,166
Bitcoin market capitalisation
🟠 BTC $731.793 billion
🟡 Gold $13.299 trillion
💳 Visa $522.16 billion
Bitcoin volume
Total spot trading volume $16.510 billion
🔺 93.98%
Ethereum staking entry queue
0 minutes
SP500
🔺 0.6%
FTSE/JSE Top 40
🔻0.04%
Fear and Greed Index
Bitcoin’s market dominance
52.72
Relative Strength Index (RSI)
55
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
But seriously folks, this a short and juicy tirade in which I say:
(0) there will be superhuman AI in the future
(1) they will be under our control
(2) they will not dominate us nor kill us
(3) they will mediate all of our interactions with the digital world
(4) hence, they will need to be open platforms so that everyone can contribute to training and tuning them
– Yann Lecun, machine learning scientist
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Kraken appoints crypto entrepreneur and fintech consultant Bivu Das to drive next chapter of UK growth story
TransformBase initiative set for launch in November
FCA’s new crypto advertising rules met with mixed industry response
ChatGPT urges crypto conference panel not to become over-reliant on AI
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’
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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
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
Crypto on the catwalk
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.