Crypto prices climb as markets tease volatility

CRYPTO prices ticked up overnight in what has become a familiar pattern of choppy movements seen over the past few weeks, if not months.

Bitcoin is up more than 4% in the last 24 hours, trading around $57,200, while Ethereum is seeing a more modest 2% rise. Altcoins are also benefiting from the brief rally, with Fantom jumping 11% overnight. Dogecoin, Solana, and Cosmos are among others well into the green.

The Fear and Greed Index has ticked up slightly but remains in Fear territory, while Bitcoin’s Relative Strength Index (RSI) is now flashing a buy signal. Yesterday also saw the first Bitcoin ETF inflows since 27 August, raising the question: Is this another short-lived move within the broader volatility we’ve seen over the last month, or could it mark the start of a more sustained upward trend?

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In the Markets

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Total crypto market cap

$2 trillion (+3.05%)

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What Bitcoin did yesterday

Daily high $57,956 |  Daily low $54,595

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Bitcoin market capitalisation

$1.13 trillion (57.28 of market)

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Bitcoin 24-hour trading volume

$33.7 billion (+51.9%)

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SP500

+1.16%

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Fear and Greed Index

33 (Fear) 

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)

65

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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