Groundhog Day! Crypto markets still shuffling sideways as Bitcoin moves barely 0.4%

IT'S more of the same for the top cryptos this morning, as Bitcoin and many other large caps showed little movement over the last 24 hours. The market leader continues to move in the $42,800-$43,000 range, while Ethereum is still hanging around $2,300. 

Solana is down marginally (-0.4%), despite a network outage yesterday, which has since been resolved. The price of Cardano is down by roughly 2%, while the Chainlink rally seems to have run out of steam, seeing LINK down by 3%.  

While the Fear and Greed hovers in neutral, moving averages on TradingView are signalling a “strong buy” for Bitcoin. 

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In the Markets

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Total crypto market cap

$1.65 trillion (+0.30%)

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What Bitcoin did yesterday

 Daily high $43,375 |  Daily low $42,566

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Bitcoin market capitalisation

$841 billion (+0.16%)

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Bitcoin volume

$17.09 billion (-2.52%)

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SP500

+0.23%

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Fear and Greed Index

56 (Neutral) 

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Bitcoin’s market dominance

52.52

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)

55.41

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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