Crypto market holding on tightly to recent gains as resistance level forms
Bitcoin is trading for $21,211 this morning, up again from yesterday but by a more modest 0.29% as analysts see a resistance level forming around $21,200.
This puts the leading crypto by market cap at 21% in the green over seven days. Ethereum also continues in the green this morning, trading for $1,577 at the time of writing, in the positive by 0.72% since yesterday.
The same goes for the rest of crypto. It’s been a good trading period with weekly double-digit growth spurts for many coins. Will we see more green candles as the weekend approaches?
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Yesterday’s Crypto AM Daily in association with Luno
The Bitcoin economy
*Data can be found at https://terminal.bytetree.com/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $992.248 billion.
What Bitcoin did yesterday
We closed yesterday, January 17, at a price of $21,161. The daily high yesterday was $21,438, and the daily low was $20,978.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $409.14 billion. To put it into context, the market cap of gold is $12.633 trillion and Tesla is $415.21 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $24,541 billion. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
Volatility
The price volatility of Bitcoin over the last 30 days is 31.29%.
Fear and Greed Index
Market sentiment today is 52, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.16. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 83.66. 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.
Convince your Nan: Soundbite of the day
The ability to create something which is not duplicable in the digital world has enormous value… Lot’s of people will build businesses on top of that.
Eric Schmidt, former CEO of Google
What they said yesterday
Made in the USA…
Welcome back…
If only we could turn back time…
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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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Three-in-four wealth managers are gearing up for more cryptocurrency exposure
Crypto.com granted FCA licence to operate in UK
Q&A with Duncan Coutts, Principal Technical Architect at IO Global
Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’
MPs are falling silent over potential of cryptocurrency
Erica’s ‘Crypto Wars’ handed honours in Business Book Awards
‘Let people invest’: Matt Hancock makes case for liberal crypto rules
Explained: Why the Treasury is so sold on stablecoins
Fears crypto is used to avoid sanctions ‘misplaced,’ says Matt Hancock
The cryptocurrency fundraisers behind Ukraine’s military effort
Crypto AM: Features
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Contributors
Crypto AM: In Conversation with James Bowater
Crypto AM: Tomorrow’s Money with Gavin S Brown
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
Crypto on the catwalk
Crypto AM: Events
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.
All information is correct as of 08:00 BST