Continued consolidation as US interest rate decision looms
BITCOIN (BTC) and Ethereum (ETH) continue to consolidate, trading slightly in the red but largely moving sideways this morning.
Bitcoin has managed to post a small weekly green candle after weeks of volatility that dominated the crypto market throughout March.
Altcoins remain under pressure, with Solana (SOL) and Celestia (TIA) leading declines, both down more than 4% over the past 24 hours.
The Fear and Greed Index - a popular sentiment indicator - has steadily climbed out of 'Extreme Fear' and is approaching more neutral territory. This shift coincides with a noticeable drop in volatility across many crypto markets.
With the Federal Reserve’s next interest rate decision on Wednesday, macroeconomic factors could play a key role in whether this stabilisation holds, or if another leg of volatility is on the horizon.
In the markets
🌍 Total crypto market cap ⬇️
The global cryptocurrency market capitalisation is currently approximately $2.72 trillion, showing a 1.16% decrease over the past 24 hours.
🟠 Bitcoin (BTC) ⬇️
- Price: Currently trading at $83,448 reflecting a 0.87% decrease in the last 24 hours.
- Daily high: $84,693
- Daily low: $82,060
💎 Ethereum (ETH) ⬇️
- Price: Currently trading at $1,902, reflecting a 0.73% decrease in the last 24 hours.
- Daily high: $1,921
- Daily low: $1,871
📈 S&P 500 ⬆️
The S&P 500 index is currently up by 2.13% from the previous close.
😬 Fear & Greed Index
The Crypto Fear & Greed Index is currently at 22, signalling Fear among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for Bitcoin is at 53, indicating that the asset is neither underbought or oversold.
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.
