Bitcoin’s support level above $27,000 crumbles
Bitcoin is trading below $27k, dipping as low as $26,500 before gaining some ground earlier this morning to trade at $26,730. The market leader is down by 1.6% over 24 hours.
Ethereum (Ether) is below $1.6k and down by 1.6% over the same timeframe. Most crypto markets are in the red today, with a few exceptions, including Cosmos (ATOM), which has gained 2% over 24 hours.
The divergence between US stocks and cryptocurrency continues as the SP500 and Nasdaq is up again, while US bond yields ease off.
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
🔻 0.52%
What Bitcoin did yesterday
🔺 Daily high $27,475
🔻 Daily low $26,558
Bitcoin market capitalisation
🟠 BTC $524.110 billion
🟡 Gold $12.482 trillion
💳 Visa $490.16 billion
Bitcoin volume
🪣 Total spot trading volume $12.388 billion
🔺 7.8%
Ethereum staking entry queue
💎 13 hours 27 minutes
SP500
🔺 0.52%
FTSE/JSE Top 40
🔺 3.26%
Fear and Greed Index
Bitcoin’s market dominance
📊 50.83
Relative Strength Index (RSI)
💪 45.12
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.