Bitcoin ETF rumours appear to boost crypto market prices

The Digital Commonwealth daily brief…

BITCOIN and the wider crypto market has exploded into shades of green this morning.

It is currently unclear what the driving force behind the dramatic upward movement is, but thoughts among many analysts appear to be pointing towards spot Bitcoin ETF news and a general feeling something imminent is afoot.

Bitcoin itself puckered up and almost kissed $46,000 earlier today, falling slightly short at $45,925 before pulling back in search of support around $45,600 — still up by an impressive 7% over 24 hours.

Ethereum was slightly less enthusiastic, but still up 4% at $2,400.

Glancing across the board, it would appear that 5% is quite typical of the majority of cryptocurrencies so far today.

In the Markets

Total crypto market cap

🔻 $1.84 trillion

🔺6.5%

What Bitcoin did yesterday

🔺 Daily high $44,026

🔻 Daily low $42,231

Bitcoin market capitalisation

🟠 BTC $828.94 billion

🟡 Gold $13.912 trillion

Fear and Greed Index

Bitcoin’s market dominance

49%

Relative Strength Index (RSI)

66

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.

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.