Market unease continues in wake of Binance ripping up deal to buy FTX
Cryptocurrency prices continue to feel the pressure from the ongoing drama at major cryptocurrency exchange FTX.
Bitcoin shed 8.3% off its price over the last 24 hours, but there was a notable bounce from yesterday’s low of $15,682, with the original cryptocurrency trading stronger this morning at $16,641.
Ethereum is in the red at $1,179, down 7% in the last day. It’s a similar story for cryptocurrencies across the board.
The big question is whether yesterday’s slight recovery will pull through until some semblance of investor confidence returns.
READ MORE: Binance pull out of deal to buy FTX
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Yesterday’s 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 at time of writing is currently $891 billion.
The total capitalisation of the entire cryptocurrency market at time of writing is currently $837.478 billion.
What Bitcoin did yesterday
We closed yesterday, November 9 2022, at a price of $15,880.78. The daily high yesterday was $18,590.46, and the daily low was $15,682.69.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $323.33 billion. To put it into context, the market cap of gold is $11.29 and Tesla is $552.48 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $108.604 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 58.94%.
Fear and Greed Index
Market sentiment today is 22, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 40.18. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 30. 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
“Not sure who needs to hear this. But FTX collapsing isn’t a reflection of the security, viability or stability of Bitcoin.”
Nichole DeJesus, Analyst, Fidelity
What they said yesterday
* Sigh
Perspectivel…
Bitcoin at work…
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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
For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit 2021 – you can now watch the event in two parts via YouTube
Part One
https://www.youtube.com/watch?v=dvqNMNZTIDE
Part Two
https://www.youtube.com/watch?v=WXhX_-Tr5j0
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