Crypto markets push higher despite uncertainty over Russia sanctions
Crypto AM Daily in association with Luno
The crypto markets are looking buoyant this morning, after a difficult start to the week that saw the Bitcoin price dip as low as $36k. It’s currently changing hands for almost $39k, up around 4 per cent on this time yesterday. Ethereum’s price has also grown in the last day by over 5 per cent. The strong performance is also echoed in traditional financial markets, with the UK’s FTSE 100 opening 0.5 per cent higher.
The uptick follows the announcement of new sanctions against Russia around the world, as countries look to economic pressure by way of pushing back against their activities in the Ukraine. These sanctions appear to have been softer-than-feared by investors worried about the economic damage they could cause. Will the momentum take Bitcoin back above $40k?
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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 $1.724 trillion, up from $1.657 trillion yesterday.
What Bitcoin did yesterday
We closed yesterday, February 22 2022, at a price of $38,286.03, up from $37,075.28 the day before. The daily high yesterday was $38,359.85 and the daily low was $36,488.93.
This time last year, the price of Bitcoin closed the day at $48,824.43. In 2020, it closed at $9,924.52.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $720.9 billion. To put it into context, the market cap of gold is $12.063 trillion and Tesla is $849.05 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $23.239 billion, down from $32.268 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 54.31%.
Fear and Greed Index
Market sentiment today is 25, in Extreme fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 42.42. Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 39.45. 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
“In fact, it’s the best monetary network conceived in human history… It’s open. It’s ultimately inclusive to everyone on the planet. It works in the developing world the same as it works in the developed world.”
— Strike CEO
What they said yesterday
Entertainment, paid for in Bitcoin
Crypto context
A friendly reminder
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Crypto AM: Spotlight
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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
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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