Bitcoin holds steady at $40k as markets move sideways
I am not gonna lie – I have a fantastically major thumping head this morning after the great day that was yesterday’s Crypto AM 3rd Birthday Unlocking Summer Party.
An amazing champagne drinks reception in partnership with World Mobile was followed by a three-course summer lunch washed down with beautiful Mirabeau Azure Rosé!
Pete Hill of CUDOS delivered his keynote, Jason Deane introduced Bitcoin Pioneers and a very enjoyable panel discussion around the ‘State of the Crypto Union’ took place, moderated by Dr Chris Cleverly of Tingo International Holdings & KamPay.
The panel was made up by Julian Sawyer of Bitstamp (who also collected Bitstamp’s award from last year), Jeanette Seng of Mantle, Rufus Round of GlobalBlock Digital Trading Assets, Martha Reyes-Hulme of BEQUANT and Konstantin Anissimov of CEX.IO
We also made a bit of cinematic history with Ted Byron Baybutt – the Director of British Sci-Fi Thriller ‘Slammer’ – filming a scene for the film as well as showing two versions of the trailer for the film.
I’m hugely grateful to and want to thank our partners CUDOS, World Mobile, BEQUANT, Bitstamp, CryptoCompare, CEX.IO, Bitcoin Pioneers & GlobalBlock Digital Asset Trading
The Crypto AM London Blockchain & DeFi Summit will be held on the 29 & 30 September…
Day One will be held in two pavilions hosting the Crypto AM Canada Roundtables so that delegates can meet and network with each other and learn from great discussions and talks. Day Two will be Summit Day at the Leonardo Royal Hotel, St Paul’s, finishing with the gala dinner where the winners of the Crypto AM Awards 2021 will be revealed.
Tickets will be strictly limited and by application.
Crypto at a glance
The Bitcoin price continues to hold strong at around $40,000, though it has yet to show signs of pushing on after the surge earlier in the week. Will we see a longer period of consolidation around this level? Will it break out before then, or could it fall back towards the $30k level?
One positive argument for a breakout is that many commentators believe institutional investors are returning to crypto after appearing to look elsewhere. A number of reports have pointed to roughly $2.5 billion in Bitcoin being moved off crypto exchanges yesterday morning as evidence that they’re back, with the balance of Bitcoin on exchanges falling as 63,289 BTC were transferred off the platforms, according to blockchain data provider Glassnode. Has a return to $40k sparked their interest again?
Everything is fairly static today though, with only XRP of the major coins moving more than one per cent in the last 24 hours. XRP, a cryptocurrency used by Ripple in its payments network, rallied to a five-week high on Wednesday after the company said it is targeting the $1.8 billion Filipino remittance market, but is today down around 3.5 per cent. The cryptocurrency is still up more than 20 per cent over the last week.
Would you like to help spread the adoption and education of Bitcoin in the UK and even stack some Sats while you’re doing it? Well, now you can!
The Bitcoin Pioneers community, backed by Barry Silbert’s Digital Currency Group, was created to introduce Bitcoin to a mainstream audience in a meaningful way and now has members right across the UK.
We share tips, stories and ideas on how to encourage others to try Bitcoin for the first time. And, thanks to support from Luno, each Pioneer gets £500 of Bitcoin a month to share with beginners, helping them get started.
So, if you’re passionate about Bitcoin, why not join today? Click here to find out more!
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Yesterday’s Crypto AM Daily in association with Luno…
In the markets
In the markets
The Bitcoin economy
*Definitions and insights can be found at https://bytetree.com/insights/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $1,557,373,006,945.
What Bitcoin did yesterday
We closed yesterday, July 28, 2021, at a price of $39,995.91, up from $39,406.94, the day before.
The daily high yesterday was $38,862.44 and the daily low was $40,816.07.
This time last year, the price of Bitcoin closed the day at $11,100.47. In 2019, it closed at $9,519.15.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $752.01 billion. To put it into context, the market cap of gold is $11.543 trillion and Facebook is $1.058 trillion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $34,410,524,804, down from $37,165,810,948 yesterday. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
Volatility
The price volatility of Bitcoin over the last 30 days is 54.14%.
Fear and Greed Index
Market sentiment today is 50.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 48.99, Its lowest ever recorded dominance was 37.09 on January 8, 2018.
Relative Strength Index (RSI)
The daily RSI is currently 70.24. 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.
Convince your Nan: Soundbite of the day
“I think [Bitcoin] definitely has a great chance of being looked at as digital gold,”
– Jordan Belfort, Wolf of Wall Street
What they said yesterday
Institutional investors are back?
Bouncing…
Musk’s millions…
Crypto AM editor’s picks
US steps closer to cryptocurrency tax after last-minute bill addition
Steve Jobs’ 1973 application to be auctioned in original format AND as an NFT
Surf legend Kelly Slater is ready to ride the crypto wave
Cardano leapfrogs Bitcoin as eToro clients most held cryptocurrency
Coinbase gets green light from German regulators
Cardano leapfrogs Bitcoin as eToro clients most held cryptocurrency
Coinbase gets green light from German regulators
Crypto AM: Longer Reads
City PM Markets: What is Decentralised Finance (DeFi) by Aave
Crypto AM: Conversation with James Bowater
Crypto AM: Market View in association with Ziglu
Crypto AM: Technically Speaking in association with Zumo
Crypto AM: A Trader’s View with TMG
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Talking Legal
Crypto AM: Spotlight
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Definitively DeFi
Crypto AM Parliamentary Special
Part one of two – April 2021
Part two of two – April 2021
Five-part series – March 2021
Part one…
Part two…
Part three…
Part four…
Part five…
Crypto AM Events
For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit – you can now watch the event in two parts via YouTube…
Part one:
Part two: