Ethereum bucks the trend as most large-caps start Wednesday in the red

ETHEREUM has managed to hang onto some gains overnight as the original smart contracts crypto is trading for $2,932 this morning, showing returns of 0.45%. 

Bitcoin continues to swing considerably between the highs and lows, yesterday posting a high of $52,300 before retracing back below $52,000, ending at $51,570 earlier. 

The next-gen coins continue to slide, with Solana, Cardano, Avalanche, Chainlink, Polkadot and Uniswap all in the negative this morning by 4% or more. 

In ETF news, yesterday marked the biggest day of trading for BTC spot ETFs since the launch January 11. 

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In the Markets

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Total crypto market cap

$1.97 trillion (-0.41%)

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What Bitcoin did yesterday

 Daily high $52,367 |  Daily low $51,523

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Bitcoin market capitalisation

$1.016 trillion (-0.31%)

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Bitcoin volume

$31.86 billion (+47.62%)

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SP500

-0.6%

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Fear and Greed Index

75 (Greed) 

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Bitcoin’s market dominance

53.32

The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.

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Relative Strength Index (RSI)

53.82

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.