Bitcoin claws back some ground as markets inch into the green

BITCOIN saw a 1.7% rise in price overnight, hovering just below the critical $60,000 level, while Ethereum posted a slightly stronger gain of 2%.

Among younger cryptos, Solana climbed by more than 5% and Aave surged 10%. This reflects the choppy market pattern we've seen over recent weeks.

US stocks are also up, as market participants anticipate Friday's release of the latest jobs numbers. With the Fed expected to start trimming interest rates on September 18, this month's US economic data, including the jobs report, is drawing increased attention.

Analysts are split on the impact: some believe it could reignite financial markets, while others, like one JP Morgan analyst, warn it might stall stock performance. Either way, it's set to be a closely watched event for both crypto and broader markets.

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In the Markets

Total crypto market cap

$2.07 trillion (+2.41%)

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What Bitcoin did yesterday

Daily high $59,416 |  Daily low $57,185

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Bitcoin market capitalisation

$1.16 trillion (57.48 of market)

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Bitcoin 24-hour trading volume

$25.3 billion (-4.6%)

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SP500

+1.01%

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Fear and Greed Index

26 (Fear) 

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)

55

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…

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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