Bitcoin retraces to $30,200 after registering 2023 high above $31,000
Bitcoin posted a new high for 2023 when it breached $31k before retracing to around $30,200 this morning. Ethereum’s Ether is trading just shy of $1.9k.
While number and one and two by market cap are both down by around 1% in the last day, Bitcoin is up 14% over seven days while Ethereum recorded gains of around 9%.
It’s more or less a similar picture across the rest of the market, where many cryptocurrencies are slightly down on the day but posting strong figures over a longer time frame.
Friday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.185 billion
What Bitcoin did yesterday
🌄 Closed $30,480
🔺 Daily high $30,327
🔻 Daily low $31,041
Bitcoin market capitalisation
🟠 BTC $589,059 billion
🟡 Gold $12.776 trillion
💳 Visa $480.76 billion
Bitcoin volume
Total spot trading volume $13.380 billion
Fear and Greed Index
Bitcoin’s market dominance
📊 51.51
Relative Strength Index (RSI)
💪 66.93
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
“This is a big deal because the largest institutional “TradFi” company has taken significant interest in crypto. And where BlackRock goes, others are likely to follow.”
Paul Hewson, Director at investment firm KordaMentha
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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.