Altcoins seize the moment as green candles return

It’s green again at the top end of the large-caps, but the big movements are happening among the altcoins. The prices of Solana, Avalanche, and Polkadot are all up by more than 7% over the past 24 hours. 

Bitcoin and Ethereum markets seem to have settled for now, both inching upwards by 0.9% and 1.8%, respectively. The Fear and Greed Index is also climbing into neutral territory as sentiment has improved throughout the week.

Crypto ETFs are in the news again, with Reuters reporting that the SEC could approve an Ethereum ETF by 4 July. Will this news, along with VanEck's Solana ETF filing, impact markets next week? Let’s see.

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In the Markets

Total crypto market cap

$2.28 trillion (+1.63%)

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What Bitcoin did yesterday

Daily high $62,351 |  Daily low $60,62

Bitcoin market capitalisation

$1.20 trillion (+0.87%)

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Bitcoin volume

$22.1 billion (+1.73%)

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CoinDesk Large Cap Select Index 

+1.37%

The CoinDesk Large Cap Select Index (DLCS) measures the market cap weighted performance of some of the largest cryptocurrencies and gives a general indication of the overall performance of the crypto market. 

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SP500

+0.09%

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Fear and Greed Index

46 (Neutral) 

The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.

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Bitcoin’s market dominance

54.4

The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.

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Bitcoin Relative Strength Index (RSI)

46.4

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.

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Post Script…

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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. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.