Bitcoin sees minor uplift as crypto markets steady

BITCOIN and Ethereum saw slight overnight improvements, with BTC trading just above $57,000 this morning. Ethereum is also up, though by less than a percentage point.

Across most crypto markets, there’s a similar story of sideways trading, with prices leaning either slightly red or green. There are exceptions, though. CurveDAO, for example, is up by more than 10% overnight. 

While the market shows some consolidation, investor nerves persist, reflected by the Fear and Greed Index remaining firmly in Fear and moving averages indicating a strong sell.

US stock markets, too, have found some footing after yesterday's sell-off. The volatility of August seems to have spilled into September - a month when both stock and crypto markets, notably Bitcoin, have historically underperformed.

The big question now is will expectations of a possible rate cut later this month shift the seasonal trend?

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In the Markets

Total crypto market cap

$2 trillion (+1.19%)

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What Bitcoin did yesterday

Daily high $58,508 |  Daily low $55,732

Bitcoin market capitalisation

$1.12 trillion (57.49 of market)

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Bitcoin 24-hour trading volume

$30 billion (-6.98%)

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SP500

-0.16%

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Fear and Greed Index

27 (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)

35

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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