Crypto markets show a little spice ahead of US jobs data and weekend trading

BITCOIN and most other cryptocurrencies are in the green today following a volatile week.

The market leader is up 2%, trading around $95,170, while Ethereum has edged up 0.4%, currently priced at $3,300.

Fantom (FTM), Uniswap (UNI), and Litecoin (LTC) are among the biggest climbers, each posting gains of over 4%. The recovery comes after market-wide sell-offs earlier this week. 

In economic news, analysts are eyeing today’s US jobs data release at 13:30 GMT for further direction. While expectations lean toward no surprises, a strong labour market report could prompt a more cautious Federal Reserve, potentially slowing the pace of rate cuts expected this year.

The crypto market is watching closely as the Fed seems to have switched its attention back to inflation indicators like employment data. 

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In the Markets

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Total crypto market cap

$3.26 trillion (-1.09%)

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What Bitcoin did yesterday

Daily high $94,564  |  Daily low $91,259

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Bitcoin market capitalisation

$1.867 trillion (+0.64%)

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Bitcoin 24-hour trading volume

$61.48 billion (-0.45%)

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SP500

+0.16%

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Fear and Greed Index

Neutral

Source: Coinmarketcap

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) (14)

59

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.

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