Bitcoin and others recover, with 'Crypto Czar' set to outline US digital asset policy today

BITCOIN is staging a modest recovery after a volatile start to the week, climbing to a high of around $102,000 yesterday before settling near $98,750 this morning.

Ethereum and other major cryptocurrencies have also regained some ground following a sharp sell-off that rattled both equity and crypto markets. Market analysts point to the Trump administration’s proposed import tariffs as the primary catalyst for recent turbulence. 

The Fear and Greed Index has edged back into 'Neutral' after dipping into 'Fear' territory yesterday, while a drop in overnight trading volumes suggests investors are taking a wait-and-see approach.

All eyes will be on David Sacks later today, as the White House’s newly appointed “Crypto and AI Czar” is set to outline the administration’s digital asset strategy in a press conference at 19:30 GMT.

Sacks is expected to lay out a vision for US leadership in crypto, covering regulatory policy, innovation incentives, and national security concerns tied to digital assets.

His remarks could set the tone for how Washington plans to approach the industry in the coming years.

In the markets

‍🌦️The Data... 

Total crypto market cap

The cryptocurrency market has recovered some ground, with the global market capitalisation increasing by approximately 6% over the past 24 hours, now standing at around $3.25 trillion.Bitcoin (BTC)

• Price: Currently trading at $98,678, reflecting a 4.22% increase in the last 24 hours.
• Daily high: $102,614
• Daily low: $94,262
• Market cap: Approximately $1.957 trillion.
• 24-hour trading volume: $83.06 billion.

S&P 500

The S&P 500 index has decreased by 0.76% from the previous close.

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Fear and Greed Index

The Crypto Fear & Greed Index is currently at 45, in 'neutral'. 

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Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for Bitcoin is at 46, suggesting that the asset is neither overbought nor oversold at this time.

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‍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.