Crypto week begins with push into the green
MOST large-cap cryptocurrencies have started the week in the green. Bitcoin's price is up by 2.3% over the past 24 hours, trading around $69,046.
Ethereum is moving more laterally, priced around $3,815, and 1% more than yesterday.
Most cryptocurrencies are experiencing gains between 0% and 2% over the past 24 hours.
As markets idle, the Fear and Greed Index continues to reflect "Greed" among crypto investors. It's just a question of when this sentiment will manifest in price action and which catalyst event will drive it.
In the Markets
Total crypto market cap
$2.57 trillion (+1.37%)
What Bitcoin did yesterday
Daily high $68,447 | Daily low $67,330
Bitcoin market capitalisation
$1.36 trillion (+2%)
Bitcoin volume
$23 billion (+104%)
CoinDesk Large Cap Select Index
+1.47%
The CoinDesk Large Cap Select Index (DLCS) measures the market cap weighted performance of some of the largest cryptocurrencies and gives a general indication of the overall performance of the crypto market.
SP500
+0.8%
Fear and Greed Index
60 (Greed)
The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.
Bitcoin’s market dominance
54.38
The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.
Bitcoin Relative Strength Index (RSI)
46.86
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.
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.
