Bitcoin holds firm while smart contract cryptocurrencies fall deeper into the red
Bitcoin continues to hold above $30,000 this morning after investors once again tested the $31k level.
The market leader is more-or-less in the same spot as this time yesterday, trading down by 0.5% on the day.
Ethereum’s Ether is a bit deeper in the red, dipping by 1.19% and trading around $1.8k. Many of the younger smart-contract cryptocurrencies are seeing sharper declines. UNI (Uniswap) is down around 4%, AVAX (Avalanche) fell by 4.5% and ADA (Cardano) dropped 2.6%.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.17 trillion
What Bitcoin did yesterday
🌄 Closed $30,688
🔺 Daily high $31,006
🔻 Daily low $30,236
Bitcoin market capitalisation
🟠 BTC $586.028 billion
🟡 Gold $12.661 trillion
💳 Visa $476.14 billion
Bitcoin volume
Total spot trading volume $17.308 billion
SP500
🌅 24hrs +1.15%
Fear and Greed Index
Bitcoin’s market dominance
📊 51.83
Relative Strength Index (RSI)
💪 64
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
“The amount of ETH locked within staking contracts flipped ETH held on exchanges yesterday for the first time.”
Michael Nadeau, analyst and author of the 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.