Is a crypto bull market back on?
CRYPTOCURRENCY markets have continued their rally over the weekend, building on seven-day gains after recent macroeconomic uncertainty and the Bybit hack unsettled investors.
Bitcoin (BTC) is up roughly 3.5% overnight, trading above $87,000, while Ethereum (ETH) has climbed more than 9% over the week, maintaining its position above $2,000.
Among altcoins, Fantom (FTM) has been the standout performer, surging over 14% in the last 24 hours, with Render (RENDER) and Avalanche (AVAX) also seeing notable gains. Meanwhile, Bitcoin’s Relative Strength Index (RSI) has spiked above 70, indicating that the asset may be entering overbought territory, a sign that traders may start taking profits soon.
This latest recovery follows comments from the Federal Reserve, which reaffirmed its stance of keeping interest rates steady for now but signalled the possibility of two rate cuts in 2025.
Is this rally an early sign of renewed bullish sentiment, or just a relief bounce before another period of volatility? Investors will be watching macroeconomic data, ETF flows, and regulatory developments closely for confirmation of this trend.
In the markets
🌍 Total crypto market cap ⬆️
The global cryptocurrency market capitalisation is approximately
$2.95 trillion, reflecting a 2.92% increase over the last day.
🟠 Bitcoin (BTC) ⬆️
- Price: Currently trading at $87,375, marking a 3.57% increase in the last 24 hours.
- Daily high: $87,506
Daily low: $84,306
💎 Ethereum (ETH) ⬆️
- Price: Currently trading at $2,089.21, reflecting a 3.85% increase in the last 24 hours.
- Daily high: $2,091.42
- Daily low: $1,981.36
📈 S&P 500 ⬇️
The S&P 500 index is currently down by 0.15% from the previous close.
😬 Fear & Greed Index
The Crypto Fear & Greed Index is currently at 31, indicating a state of Fear among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for Bitcoin is at 75, suggesting that the asset is in overbought territory.
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.
