Another Bitcoin all-time high as XRP has $3 in its crosshairs

BITCOIN continues its upward momentum this morning, trading in the green after setting a new all-time high of $107,000 yesterday, according to CoinGecko data.

The market leader added another 2% overnight, with Ethereum (ETH) and XRP also seeing gains.

The mood further down the market-cap board is less upbeat, with many altcoins posting losses of around 4% over 24 hours. Despite this, market indicators remain broadly positive. The Fear and Greed Index signals 'Extreme Greed', while the Relative Strength Index (RSI) shows heightened interest at 62, just below the 70 mark, which typically suggests overbought conditions.

The latest move to fresh highs follows renewed interest sparked by incoming US President Donald Trump’s comments on a potential “strategic” Bitcoin reserve.

Speaking to CNBC last week, Trump said: “We’re gonna do something great with crypto because we don’t want China or anybody else - not just China but others are embracing it - and we want to be the head.”

When asked about plans for a reserve, he responded: “Yeah, I think so.”

Market commentators say that investors appear to be rallying behind the prospect of institutional-level support from the US, further pushing market momentum.

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In the Markets

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Total crypto market cap

$3.74 trillion (+0.76%)

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What Bitcoin did yesterday

Daily high $107,822  |  Daily low $103,433

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Bitcoin market capitalisation

$2.11 trillion (+1.78%)

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Bitcoin 24-hour trading volume

$79.8 billion (+25.09%)

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SP500

+0.38%

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Fear and Greed Index

Extreme Greed

Source: Coinmarketcap

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 Relative Strength Index (RSI) (14)

62 

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.

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