THERE'S not one green candle in the house today as crypto markets continue to whipsaw.

Following yesterday’s brief and intense pulse of optimism, most cryptocurrencies have pared yesterday’s gains overnight.

US stock markets have also plunged after the US pressed ahead with import tariffs against China, Mexico, and Canada. The S&P 500 is down 1.76%, a sizable drop for stock markets, while the Nasdaq has fallen 2.76% over 24 hours.

Bitcoin is down more than 9%, while Ethereum is treading water just above $2,000. Cardano (ADA), which surged around 40% yesterday, shed 17% of that gain overnight. One analyst remarked last week that crypto markets are currently behaving much like leveraged stocks, with sell-offs in equities rippling through to crypto markets in a much bigger way.

Will the current macro uncertainty ease sooner rather than later? And how will crypto markets react? Could the first-ever White House Crypto Summit this Friday provide investors with more clarity on the future of crypto in the US?

Plenty of questions remain at this stage during this bout of volatility.

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In the markets 

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🌦️The Data...

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🌍 Total crypto market cap ⬇️

The global cryptocurrency market capitalisation is currently approximately $2.76 trillion, showing a 9.1% decrease over the past 24 hours.

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🟠 Bitcoin (BTC) ⬇️

Price: Currently trading at $83,142, reflecting a 9.73% decrease in the last 24 hours.

• Daily high: $93,667
• Daily low: $82,841 

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💎 Ethereum (ETH) ⬇️

• Price: Currently trading at $2,082, reflecting a 12.66% decrease in the last 24 hours.
• Daily high: $2,384
• Daily low: $2,035

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📈 S&P 500

The S&P 500 index is currently down by 1.76% from the previous close.

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😬 Fear & Greed Index

The Crypto Fear & Greed Index is currently at 24, signalling Fear among investors.

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📊 Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for Bitcoin is at 33, indicating that the asset is neither oversold nor overbought.

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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.