Ethereum posts nine-month high as Shanghai upgrade approaches
Ethereum is trading for $1,910 this morning, up 5% in the last 24 hours.
The upcoming Shanghai upgrade, which unlocks staked ETH, is fanning investor interest in Ethereum and other staking-focused coins.
Meanwhile, Bitcoin is trading strongly above the key $28k level, in the green today along with most other cryptos. Special mention goes to Avalanche (+6%), and Uniswap (+6%).
Analysts are watching crypto markets towards the end of the week to see their reaction to the US Labor Department’s release of non-farm payroll figures – a key inflation indicator.
Yesterday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Data can be found at https://terminal.bytetree.com/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market this morning was $1,204 billion.
What Bitcoin did yesterday
We closed yesterday, April 4, at a price of $28,168 The daily high yesterday was $28,433, and the daily low was $27,681.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $551.731 billion. To put it into context, the market cap of gold is $13.418 trillion and Tesla is $649.16 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $16.283 billion. High volumes can indicate that a significant price movement has stronger support.
Volatility
The price volatility of Bitcoin over the last 30 days is 68.8%.
Fear and Greed Index
Market sentiment today is 62, in Greed.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 47.16. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 58.55. 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.
Soundbite of the day
I get it. It can be hard to see crypto in tangible terms. So consider this: cryptocurrencies can greatly cut the cost of sending money internationally by about 96.7% vs. the current system.
Paul Grewal, Chief Legal Officer at Coinbase
What they said yesterday
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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
‘Let people invest’: Matt Hancock makes case for liberal crypto rules
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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.