Crypto markets look steady on back of flat weekend trading for Bitcoin

THE price of Bitcoin has remained flat over the last 24 hours, moving steadily between $42,800 and $43,000, while Ethereum is following a similar pattern, trading horizontally around $2,300.

The Fear and Greed Index remains anchored in Neutral. 

Chainlink continues to show returns, its price up by more than 4% overnight and around 26% over seven days. Other cryptos such as Polygon and Polkadot are also in the positive overnight. 

Globally, the US economy continues to show strong numbers, the latest being the strong jobs numbers reported on Friday. The numbers may calm the recession fears, but investors could have to wait a while longer for the anticipated rate cuts in the US, which is generally considered a stimulus for economic activity.

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In the Markets

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Total crypto market cap

$1.64 trillion (+0.04%)

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What Bitcoin did yesterday

 Daily high $43,113 |  Daily low $42,379

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Bitcoin market capitalisation

$840 billion (+0.14%)

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Bitcoin volume

$14.89 billion (+22.83%)

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SP500

+1.07%

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Fear and Greed Index

55 (Neutral) 

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Bitcoin’s market dominance

52.59

The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.

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Relative Strength Index (RSI)

57.16

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.