Bitcoin takes a peek above $30k while the SEC appeals Ripple ruling
Bitcoin and Ethereum are continuing on the same path with no real sustained price movements, up or down.
The market leader is trading for around $29.5k after a short-lived breach of the $30k level, yesterday, while ETH continues in the $1.8k range.
It’s similarly quiet in other crypto markets, with spikes of action here and there. LINK (Chainlink) and UNI (Uniswap) are among the few cryptocurrencies that have seen gains of 2%-plus in the last day but, otherwise, it’s looking very similar to this time last week.
Elsewhere, as expected, the Securities and Exchange Commission (SEC) is appealing the ruling that XRP sold on public exchanges were not securities.
The SEC said in a court filing yesterday it will file an “interlocutory appeal” of the judge’s ruling.
“Specifically, the SEC seeks to certify the Court’s holding that Defendants’ ‘Programmatic’ offers and sales to XRP buyers over crypto asset trading platforms and Ripple’s ‘Other Distributions’ in exchange for labor and services did not involve the offer or sale of securities under [the Howey test],” the SEC papers said.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.18 trillion
🔻 0.42%
What Bitcoin did yesterday
🔺 Daily high $30,104
🔻 Daily low $29,457
Bitcoin market capitalisation
🟠 BTC $573.41 billion
🟡 Gold $12.875 trillion
💳 Visa $501.16 billion
Bitcoin volume
🪣 Total spot trading volume $14.49 billion
🔻 32%
SP500
🔻 0.7%
FTSE/JSE Top40
🔺 0.76%
Fear and Greed Index
Bitcoin’s market dominance
📊 50.52
Relative Strength Index (RSI)
💪 52
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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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.