Bitcoin sinks lower as Putin orders Russian troops to enter Ukraine
Crypto AM Daily in association with Luno
Any hopes of a quick resolution to tensions on the Ukraine border were dashed last night, with Russian president Vladimir Putin ordering his military to enter the Russian-controlled areas of southeast Ukraine. The move also put an end to hopes for a quiet week in the markets, with the opening bell this morning signalling the start to what financial commentators are expecting to be a turbulent day. The FTSE 100 index opened 1.4 per cent lower, France’s CAC fell 2.3 per cent, while Germany’s Dax was 2.5 per cent down.
The crypto markets appear to have followed suit, with the price of Bitcoin, the largest cryptocurrency, falling around five per cent over the past 24 hours to $36,708.59 earlier this morning. It’s since recovered to more than $37k, but there are no clear signs that investors are treating it as a safe haven. By contrast, both Gold and Silver, traditional safe-haven investments, have climbed in recent days. Gold jumped to fresh eight-month highs of $1,914 per ounce, before falling back.
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Yesterday’s Crypto AM Daily in association with Luno
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 $1.657 trillion, down from $1.784 trillion yesterday.
What Bitcoin did yesterday
We closed yesterday, February 21 2022, at a price of $37,075.28, down from $38,431.38 the day before. The daily high yesterday was $39,394.44 and the daily low was $36,950.48.
This time last year, the price of Bitcoin closed the day at $54,207.32. In 2020, it closed at $9,663.18.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $699.05 billion. To put it into context, the market cap of gold is $12.142 trillion and Tesla is $869.83 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $32.268 billion, up from $19.491 billion 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 54.57%.
Fear and Greed Index
Market sentiment today is 20, in Extreme fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 42.69. Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 34.43. 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
EU Commissioner: “The European Union is open to Bitcoin if regulated.” 🇪🇺
What they said yesterday
Apparently there will be rivers of Bitcoin flowing throughout the city
Definitely worth yodeling about
Have a think about it
Crypto AM: Editor’s picks
Walmart confirms it is not partnering with Litecoin
Fake news: Walmart confirms it is not partnering with Litecoin – CityAM : CityAM
Morgan Stanley to launch new research team led by Sheena Shah
Morgan Stanley to launch new crypto research team led by Sheena Shah : CityAM
Michael Saylor buys up another 5,050 Bitcoin for MicroStrategy
Michael Saylor buys up another 5,050 Bitcoin for MicroStrategy – CityAM : CityAM
Bitcoin can now be purchased using the Post Office app
Bitcoin can now be purchased using The Post Office app – CityAM : CityAM
Simon Nixon tells Seek Ventures to ramp up Bitcoin investment
Crypto AM: Features
Crypto AM: Spotlight
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 AM: Parliamentary Special
Part one of two – April 2021
Part two of two – April 2021
Five Part Series – March 2021
Day one…
Day two…
Day three…
Day four…
Day five…
Crypto AM: Events
For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit 2021 – you can now watch the event in two parts via YouTube
Part One
https://www.youtube.com/watch?v=dvqNMNZTIDE
Part Two
https://www.youtube.com/watch?v=WXhX_-Tr5j0
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.
All information is correct as of 08:00 BST