Rollercoaster start to the week for crypto markets as Omicron uncertainty remains
Bitcoin appears to have stabilised at just below the $57,000 mark this morning, down one per cent over the past 24 hours but still up more than $2k since its weekend lows. The largest cryptocurrency by market capitalisation rose to just below $59,000 yesterday, though it drifted lower overnight.
The crypto markets generally remain uncertain, despite recovering somewhat after Friday’s crash. Investors are still waiting for more information about the Omicron coronavirus strain and its potential impact on the global financial markets. Head of drugmaker Moderna, Stéphane Bancel, yesterday said COVID-19 vaccines are likely to be less effective against the Omicron variant of the coronavirus. Japan’s Nikkei stock market index fell by 1.6 per cent after Bancel’s comments.
Elsewhere, Ethereum is up two per cent since yesterday morning to more than $4,400. The big gainers this morning are Shiba INU (SHIB), which is up around 22 per cent at time of writing, and Terra (LUNA), which is up roughly 10 per cent. Everything else is roughly flat.
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Yesterday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Definitions and insights can be found at https://bytetree.com/insights/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $2,566,164,744,828, down from $2,571,293,358,961 yesterday.
What Bitcoin did yesterday
We closed yesterday, November 30 2021, at a price of $57,806.57, up from $57,248.46 the day before. The daily high yesterday was $58,872.88 and the daily low was $56,792.53.
This time last year, the price of Bitcoin closed the day at $19,625.84. In 2019, it closed at $7,569.63.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $1.067 trillion. To put it into context, the market cap of gold is $11.401 trillion and Tesla is $1.141 trillion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $32,227,712,795, up from $29,481,898,893 yesterday. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
Volatility
The price volatility of Bitcoin over the last 30 days is 47.29%.
Fear and Greed Index
Market sentiment today is 40, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 42.12. Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 45.33. 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.
Convince your Nan: Soundbite of the day
“If it needed more help than Square and Twitter, I would be working on #Bitcoin”
Jack Dorsey at Bitcoin 2021
What they said yesterday
We’re starting to think that MicroStrategy likes Bitcoin. Do you agree?
That’s about 26,503 in BTC for anyone who’d like to know…
So, so early…
This guy believes…
Crypto AM: Editor’s picks
Diamond claws: Crypto trading hamster dies after standout investing career
New cryptocurrency named ‘JRR Token’ blocked by lawyers for Lord of the Rings creator Tolkien
El Salvador to build Bitcoin city at base of volcano
Bitcoin’s long-awaited Taproot upgrade has arrived
NFTs set to fund new cryptocurrency movie
El Salvador begins mining Bitcoin using volcanic energy
Crypto AM: Features
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Crypto AM: In Conversation with James Bowater
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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 AM: Parliamentary Special
Part one of two – April 2021
Part two of two – April 2021
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Crypto AM: Events
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