Altcoins take a battering as crypto market suffers
CRYPTOCURRENCY markets continue to experience sharp swings, with the Fear and Greed Index dropping to 17, signalling 'Extreme Fear' among investors.
Bitcoin is trading around $81,300, while Ethereum is holding just above $2,000. Altcoins have taken the biggest hit, with Maker (MKR), Render (RENDER), and Dogecoin (DOGE) all down more than 10% overnight.
Last week’s brief rally following President Donald Trump’s announcement of a US crypto reserve, has largely reversed. Despite confirmation from Crypto Czar David Sacks and further remarks from Trump at Friday’s White House Crypto Summit, Bitcoin slid from $90,000 on Friday to its current level.
Looking ahead, the next US inflation report is set for release on Wednesday, March 12, 2025, at 1:30 PM GMT, covering February’s Consumer Price Index (CPI). Markets will be watching closely for potential price moves.
In the markets
🌍 Total crypto market cap ⬇️
The global cryptocurrency market capitalisation is currently approximately $2.7 trillion, showing a 4.66% decrease over the past 24 hours.
🟠 Bitcoin (BTC) ⬇️
- Price: Currently trading at $81,301 reflecting a 5.28% decrease in the last 24 hours.
- Daily high: $85,882
- Daily low: $80,123
💎 Ethereum (ETH) ⬇️
- Price: Currently trading at $2,050, reflecting a 5.89% decrease in the last 24 hours.
- Daily high: $2,180
- Daily low: $2,001
📈 S&P 500
The S&P 500 index is currently up by 0.55% from the previous close.
😬 Fear & Greed Index
The Crypto Fear & Greed Index is currently at 17, signalling Extreme Fear among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for Bitcoin is at 38, indicating that the asset is neither oversold nor overbought.
Post Script…
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.
