Bitcoin continues with horizontal price movement
Bitcoin starts the week in familiar territory around the $29k level, where it’s been hovering for almost a month.
Ethereum is trading in a similar tight range, having moved less than a percentage point in the last 24 hours.
Other large-cap cryptocurrencies are generally following the same trend, but the current low market volatility is ripe for disruption, say analysts, which could come from updates on the BTC ETF development, volatility in the alt-coin space, or regulatory matters in the US.
These periods of low volatility have historically been followed by a slurry of trading. Traders are now asking what exactly the catalyst will be, and when it will come.
Friday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.16 trillion
🔻 0.31%
What Bitcoin did yesterday
🔺 Daily high $29,128
🔻 Daily low $28,987
Bitcoin market capitalisation
🟠 BTC $564.487 billion
🟡 Gold $13.008 trillion
💳 Visa $500.54 billion
Bitcoin volume
🪣 Total spot trading volume $$8.284 billion
🔺 27.32%
SP500
🔻 0.53%
Fear and Greed Index
Bitcoin’s market dominance
📊 50.31
Relative Strength Index (RSI)
💪 45.17
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.