Bitcoin and Ethereum shuffle into the green
Bitcoin is up by half a per cent this morning, trading around $26.4k. Ethereum (Ether) has notched gains of 1.7% and is changing hands for around $1.6k.
The majority of the larger cryptocurrencies are trading somewhere in the middle. The Fear and Greed Index still indicates some lingering fear in the markets as high interest rates continue to sway the sceptre.
While investors try to gauge which way the market will go, Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), is testifying in front of Congress about the SEC’s handling of crypto regulation in the US.
There have been a few heated exchanges between the Chair and House representatives, particularly around the SEC’s “crusade against the digital assets ecosystem”, as Rep Patrick McHenry (R-N.C.) said yesterday.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.05 trillion
🔺 0.88%
What Bitcoin did yesterday
🔺 Daily high $26,541
🔻 Daily low $26,339
Bitcoin market capitalisation
🟠 BTC $516.170 billion
🟡 Gold $12.498 trillion
💳 Visa $477.31 billion
Bitcoin volume
🪣 Total spot trading volume $12.9 billion
🔺 77.86%
SP500
🔺 0.02%
FTSE/JSE Top 40
🔻 0.13%
Fear and Greed Index
Bitcoin’s market dominance
📊 49.89
Relative Strength Index (RSI)
💪 57
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
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All feedback on Crypto AM Daily in association with Luno is welcome via email to [email protected] 🙏🏻
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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. Morning Wire, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.