Cryptocurrency moving on up as Bitcoin sets another ATH

BITCOIN (BTC) set a fresh all-time high price above $106,000 early Monday morning, as the so-called ‘Trump Trade’ becomes the 'Santa Claus Rally'.

Bitcoin has posted a green candle in December in six years out of the last eight. With President-elect Trump's incoming pro-crypto appointments, the prospect of continued rate cuts in the US, and stimulus spending from China, it should certainly be an interesting end to the year.

In alt markets, the big winner today is Chainlink, which is up 3% in 24 hours and 18% on the week. The move comes as Donald Trump-backed World Liberty Financial increased its holdings of Chainlink’s LINK token by another $1 million, bringing its LINK holdings up to $2 million worth of tokens.

In the Markets

‍

Total crypto market cap

$3.69 trillion (+1.99%)

‍

What Bitcoin did yesterday

Daily high $102,528  |  Daily low $99,261

‍

Bitcoin market capitalisation

$2.07 trillion (+2.45%)

‍

Bitcoin 24-hour trading volume

$65.43 billion (+68.43%)

‍

SP500

-0.0026%

‍

Fear and Greed Index

Extreme Greed

‍Source: Coinmarketcap

The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.

‍

Bitcoin Relative Strength Index (RSI) (14)

70.90 

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.

‍