Crypto markets recover, but caution remains as investors eye inflation data
AFTER a volatile few weeks, crypto markets are showing signs of stability, with Bitcoin (BTC) firmly back above $80,000 following a multi-month low of $76,000 earlier in the week.
Ethereum (ETH) has steadied, trading flat but in positive territory overnight. Meanwhile, some altcoins have posted modest gains, with Axie Infinity (AXS) and ApeCoin (APE) leading the charge. The broader crypto market cap has risen by over 4%.
Despite today’s rebound, overall sentiment remains cautious. The Fear and Greed Index continues to reflect 'Extreme Fear', indicating that investor confidence has yet to recover meaningfully. Analysts note that market fluctuations have been closely tied to uncertainty surrounding US import tariffs, a factor that has also impacted equity markets.
Attention now turns to the latest US inflation report, set for release later today, which could serve as the next key driver for both traditional and crypto markets.
In the markets
🌍 Total crypto market cap ⬆️
The global cryptocurrency market capitalisation is currently approximately $2.69 trillion, showing a 4.41% increase over the past 24 hours.
🟠 Bitcoin (BTC) ⬆️
- Price: Currently trading at $82,189 reflecting a 2.3% increase in the last 24 hours.
- Daily high: $83,745
- Daily low: $79,271
💎 Ethereum (ETH) ⬆️
- Price: Currently trading at $1,909, reflecting a 0.28% increase in the last 24 hours.
- Daily high: $1958
- Daily low: $1,851
📈 S&P 500 ⬇️
The S&P 500 index is currently down by 0.76% from the previous close.
😬 Fear & Greed Index
The Crypto Fear & Greed Index is currently at 19, signalling Extreme Fear among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for Bitcoin is at 40, indicating that the asset is bordering on being 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.
