Divergence forming between Bitcoin and Ethereum
Bitcoin continues moving to a metronomic beat as it starts the morning around $30,400, as it’s done for much of the week. Ethereum’s Ether, on the other hand, continues to retrace slightly, trading in the red by 0.56%.
While the difference over a shorter trading period is not significant, if you zoom out a bit a divergence between the two market leaders seems to be forming. BTC is up by 0.95% while ETH is down 3.31% over seven days.
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
What Bitcoin did yesterday
🌄 Closed $30,086
🔺 Daily high $30,703
🔻 Daily low $29,921
Bitcoin market capitalisation
🟠 BTC $589.428 billion
🟡 Gold $12.614 trillion
💳 Visa $477.43 billion
Bitcoin volume
🪣 Total spot trading volume $13.486 billion
SP500
🌅 24hrs -0.035%
Fear and Greed Index
Bitcoin’s market dominance
📊 52.07
Relative Strength Index (RSI)
💪 66
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
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
Crypto AM: Events
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.