Price of Bitcoin holds steady above $30k as crypto markets enjoy upside momentum
Bitcoin and the rest of crypto continue to push upwards as news of institutional interest continues doing the rounds.
The market leader marked a high of $30,700 yesterday before finding support around $30k, where it continues to trade this morning. Ether (Ethereum) is back at $1.9k, up 5% on the day.
It’s mostly green among the large-caps, some like Cardano (ADA) and Solana (SOL) showing gains of more than 16% over seven days. But BTC leads the pack over this period, with its market dominance pushing past 50% earlier in the week for the first time in two years. Fear and Greed is now also firmly in Greed territory.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.180 billion
What Bitcoin did yesterday
🌄 Closed $30,027
🔺 Daily high $30,737
🔻 Daily low $28,283
Bitcoin market capitalisation
🟠 BTC $584.200 billion
🟡 Gold $12.791 trillion
💳 Visa $475.95 billion.
Bitcoin volume
Total spot trading volume $30.839 billion
Fear and Greed Index
Bitcoin’s market dominance
📊 51.16
Relative Strength Index (RSI)
💪 68.39
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
“We do see payment stablecoins as a form of money, and in all advanced economies, the ultimate source of credibility in money is the central bank,” Powell said in testimony today at a twice-yearly hearing on monetary policy.”
-Jerome Powell, Chairman of the Federal Reserve Bank
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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.