Bitcoin dips below $30k and Ethereum trading flat in line with equities
Bitcoin is down by around 1% over the last day. The leading coin is trading close to equities as the SP500 (-0.21%) and Nasdaq (-0.31%) trade flat in the red over the same period.
Ethereum is holding onto support around $2,000, further disproving rumours of inevitable sell pressure after the successful Shanghai upgrade last week.
Many third-gen cryptos have continued adding green candles from last week, most notably Solana (+4.43%) and Avalanche (+6.84%).
Investors are watching corporate earnings from the US in the coming days for an indication on the health of the US economy.
Previous Crypto AM Daily in association with Luno
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 $1.264 billion.
What Bitcoin did yesterday
We closed yesterday, April 16, at a price of $30,315. The daily high yesterday was $30,555, and the daily low was $30,157.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $598.922 billion. To put it into context, the market cap of gold is $13.355 trillion and Tesla is $586.32 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $15.144 billion. High volumes can indicate that a significant price movement has stronger support.
Fear and Greed Index
Market sentiment today is 69, in Greed.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 47.02. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 62.22. 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
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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.