Cryptocurrencies and stocks back in the red, but Bitcoin still above key level
Bitcoin is keeping its head above the $34,000 level, despite retracing in the last 24 hours. This level has been tested many times in the last few hours and during the week.
Ethereum is down 3.5% on the day, trading around $1,750 this morning, while other smart contract cryptos are also in the negative.
In traditional markets, the SP500 and Nasdaq continue to trade in the red as Wall Street closes out its worst week in a month.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.26 trillion
🔻 1.89%
What Bitcoin did yesterday
🔺 Daily high $34,826
🔻 Daily low $33,749
Bitcoin market capitalisation
🟠 BTC $664.850 billion
🟡 Gold $13.176 trillion
💳 Visa $478.29 billion
Bitcoin volume
🪣 Total spot trading volume $18.161 billion
🔻 26.92%
Ethereum staking entry queue
💎0 minutes
SP500
🔻 1.18%
FTSE/JSE Top 40
🔺 0.24%
Fear and Greed Index
Bitcoin’s market dominance
📊 54.04
Relative Strength Index (RSI)
💪 84
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
Crypto AM: Editor’s picks
TransformBase initiative set for launch in November
FCA’s new crypto advertising rules met with mixed industry response
ChatGPT urges crypto conference panel not to become over-reliant on AI
Mt. Gox customers will have to wait until November to recover lost Bitcoin funds
Sam Bankman-Fried: A tissue of lies soaked with fake tears?
Three-in-four wealth managers are gearing up for more cryptocurrency exposure
Crypto.com granted FCA licence to operate in UK
Q&A with Duncan Coutts, Principal Technical Architect at IO Global
Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’
MPs are falling silent over potential of cryptocurrency
Erica’s ‘Crypto Wars’ handed honours in Business Book Awards
Crypto AM: Features
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 on the catwalk
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.