Bitcoin loses grip on $30,000 as interest shifts to altcoins
Bitcoin is trading around $29,200 this morning, as the large-cap cryptocurrencies appear to following a downward pattern.
Ethereum, almost touching $1.860, is also down over 24 hours by half a percent.
Analysts have noted a slight swing in investor sentiment to alt-coins on the back of the Ripple court ruling last week and the launch of Sam Altman’s Worldcoin, which has surged 30% since its launch, yesterday.
All eyes now shift to the Fed meeting today and tomorrow, where they will decide the way forward with interest rate hikes.
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
🔻 2.15%
What Bitcoin did yesterday
🔺 Daily high $30,098
🔻 Daily low $28,890
Bitcoin market capitalisation
🟠 BTC $566.511 billion
🟡 Gold $12.95 trillion
💳 Visa $504.2 billion
Bitcoin volume
🪣 Total spot trading volume $14.496 billion
CoinDesk Large Cap Select Index
🌅 24hrs -2.06%
The CoinDesk Large Cap Select Index (DLCS) measures the market cap weighted performance of some of the largest cryptocurrencies.
SP500
🌅 24hrs +0.40%
Fear and Greed Index
Bitcoin’s market dominance
📊 49.98
Relative Strength Index (RSI)
💪 41.72
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
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All feedback on Crypto AM Daily in association with Luno is welcome via email to [email protected] 🙏🏻
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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.