CRYPTOCURRENCY markets are staging a sharp rebound, coinciding with President Donald Trump's announcement of a proposed US crypto reserve, which mentioned Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA).

However, details on the structure of the reserve remain unclear.

ADA has surged more than 40% overnight, while XRP and SOL have both gained over 10%. BTC climbed from around $85,000 to touch $94,000 before settling around $91,000.

The Crypto Fear and Greed Index has edged out of 'Extreme Fear' territory, though it still indicates investor caution. Meanwhile, Bitcoin’s Relative Strength Index (RSI) suggests the asset is no longer in oversold territory.

The question now is whether this rally signals a sustained recovery or if it's a short-term bounce driven by enthusiasm around the news. 

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In the markets 

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🌦️The Data...

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🌍 Total crypto market cap ⬆️

The global cryptocurrency market capitalisation is currently approximately $3.04 trillion, showing a 7.23% increase over the past 24 hours.

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🟠 Bitcoin (BTC) ⬆️

• Price: Currently trading at $91,430, reflecting a 6.46% increase in the last 24 hours.
• Daily high: $94,901
• Daily low: $85,075 

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💎 Ethereum (ETH) ⬆️

• Price: Currently trading at $2,339, reflecting a 5.69% increase in the last 24 hours.
• Daily high: $2,542
• Daily low: $2,181

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📈 S&P 500

The S&P 500 index is currently up by 1.51% from the previous close.

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😬 Fear & Greed Index

The Crypto Fear & Greed Index is currently at 39, signalling Fear among investors.

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📊 Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for Bitcoin is at 45, indicating that the asset is neither oversold nor overbought.

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‍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.