Bitcoin dips after breaching monthly high 

BITCOIN is currently trading at around $67,300 after reaching a monthly high of $68,400 early this morning. The market cap leader is relatively stable but is up 7% over the past seven days, with the Fear and Greed Index back in the 'Greed' zone.

Ethereum is trading just shy of $3,500 after briefly surpassing this level earlier today. Solana (+4%) and Avalanche (+10%) are among the biggest movers of the day.

Crypto markets are back in the green over a 30-day period following a lengthy downturn, which analysts attribute to selling pressure from the German government selling Bitcoin and ongoing Mt Gox creditor repayments.

Donald Trump is set to speak at the Nashville Bitcoin Conference on Saturday, July 27, which many traders are watching closely for any pro-Bitcoin comments from the presidential nominee.

In the Markets

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Total crypto market cap

$2.47 trillion (+1.08%)

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What Bitcoin did yesterday

Daily high $68,35 |  Daily low $65,825

Bitcoin market capitalisation

$1.33 trillion (+0.8%)

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Bitcoin volume

$29.6 billion (+63.9%)

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CoinDesk Large Cap Select Index 

+0.79%

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

-0.71%

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Fear and Greed Index

64 (Greed) 

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

55.48

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)

59.82

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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