Monday blues for Bitcoin as crypto markets struggle for support levels
Bitcoin is in the red this morning, having mostly traded flat around the $21,800 level over the weekend.
The leading crypto by market cap is currently trading under $21,600 while Ethereum is down by 3% since yesterday.
The Fear and Greed index has remained in neutral since Friday – a further indication of market uncertainty.
While it seems the remarkable rally that kicked off the beginning of the year has stalled, crypto’s entire market cap continues to hold above the key $1 trillion level. Will the crypto market support this level in the coming week?
Friday’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 this morning was $$1.014 billion.
What Bitcoin did yesterday
We closed yesterday, February 12, at a price of $21,788. The daily high yesterday was $22,060, and the daily low was $21,682.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $421.659 billion. To put it into context, the market cap of gold is $12.369 trillion and Tesla is $622.97 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $19,.647 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 32.43%.
Fear and Greed Index
Market sentiment today is 48, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.57. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 50.33. 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 fam: Soundbite of the day
“The design supports a tremendous variety of possible transaction types that I designed years ago. Escrow transactions, bonded contracts, third party arbitration, multi-party signature, etc. If Bitcoin catches on in a big way, these are things we’ll want to explore in the future.”
Satoshi Nakomoto, Bitcoin creator
What they said yesterday
Adam Back knows a thing or two about Bitcoin…
Decisions, decisions…
One of the OGs explaining BTC a decade ago…
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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.