Markets continue to be wary as interest rate meeting looms in coming weeks
Bitcoin is trading just below $27k this morning – a level it held over the weekend – with Ether following a similar pattern, still holding above $1.8k.
While the majority of crypto is in the red today, some analysts have noted the resilience of the crypto markets in the face of ongoing uncertainty from various corners of the global economy.
Speaking of uncertainty, the next Fed meeting is scheduled for June 13 and 14 where they will decide whether to raise rates or keep as is. Federal Reserve officials have intimated they may skip a rate hike in the coming meeting, giving them more time to assess the data.
Previous Crypto AM Daily
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 $1.135 billion.
What Bitcoin did yesterday
We closed yesterday, June 4, at a price of $27,119. The daily high yesterday was $27,407, and the daily low was $26,968.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $520.139 billion. To put it into context, the market cap of gold is $12.92 trillion and Visa is $479.17 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $11.665 billion.
Fear and Greed Index
Fear and Greed is 53, today, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 47.41. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 46. 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.
What they said yesterday
Every day that goes by and Bitcoin hasn’t collapsed due to legal or technical problems, that brings new information to the market. It increases the chance of Bitcoin’s eventual success and justifies a higher price.
The late Hal Finney, one of the original Bitcoin code contributors
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Crypto AM: Editor’s picks
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
‘Let people invest’: Matt Hancock makes case for liberal crypto rules
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.