THE price of Bitcoin is whipsawing around $44,000 this morning after testing $44,400 yesterday. The market leader is down 0.3% overnight, while Ethereum is in the red by 1.6%, trading for roughly $2,200.

Alt-coins continue to slide, with the likes of Solana down by 5.7% and Cardano in the red by 7%. The price of Polkadot has pulled back another 4% over 24 hours, while Avalanche is down by more than 7%.

It’s still all about the Bitcoin ETF call at this stage, with the Securities and Exchange Commission (SEC) expected to make a decision on whether to approve the first Bitcoin spot-ETF in the US.

In the Markets

Total crypto market cap

🔵 $1.63 trillion

🔻 1.43%

What Bitcoin did yesterday

🔺 Daily high $44,481

🔻 Daily low $43,627

Bitcoin market capitalisation

🟠 BTC $862.501 billion

🟡 Gold $13.689 trillion

♾️ Meta $904.46 billion

Bitcoin volume

Total spot trading volume $23.742 billion

🔺 50%

Ethereum staking entry queue

0 minutes

SP500

🔺 0.18%

FTSE/JSE Top 40

🔻0.52%

Fear and Greed Index

Bitcoin’s market dominance

54.03

Relative Strength Index (RSI)

55.05

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.