Bitcoin rallies as SEC decides against appealing Grayscale’s ETF plans
Bitcoin is up 3.8% in the last day, trading just shy of $28k. The Relative Strength Index has shot up to 61, reflecting the sudden optimism in the markets.
The market leader has clawed back its gains over seven days with the latest move. Bitcoin spot trading volume jumped 140% in the last day.
Ethereum is also in the green by 1.7% over 24 hours. Many of the third-generation smart contract cryptos have been buoyed by the market leaders. Solana (SOL) is up by more than 4%, while Cardano (ADA) is in the green by 1.9%, and Polygon (MATIC) is up by 1.6%.
In other crypto news, the Securities and Exchange Commission (SEC) decided not to appeal Grayscale’s plans to convert its trust into an ETF. The SEC had until Friday to appeal.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.08 trillion
🔺 2.69%
What Bitcoin did yesterday
🔺 Daily high $27,286
🔻 Daily low $26,812
Bitcoin market capitalisation
🟠 BTC $544.428 billion
🟡 Gold $12.692 trillion
💳 Visa $494.3 billion
Bitcoin volume
🪣 Total spot trading volume $12.14 billion
🔺 142%
Ethereum staking entry queue
💎0 minutes
SP500
🔻 0.5%
FTSE/JSE Top 40
🔻 0.20%
Fear and Greed Index
Bitcoin’s market dominance
📊 51.36
Relative Strength Index (RSI)
💪 61
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
“These days institutional tokenisation adoption is a lot like London buses. You wait a week for a new example, and then three arrive at once.”
Anatoly Crachilov, CEO and Founding Partner at Nickel Digital Asset Management
