Is Bitcoin training its crosshairs on $60k in this relentless rally?
THE rally simply isn't stopping. Bitcoin broke through the $57,000 level yesterday and is continuing upwards this morning, posting green candles by the hour.
The market leader is currently trading for around $59,210 - up almost 40% over 28 days.
Ethereum has solidified its place above $3k, currently changing hands for around $3,340. It’s another day of positive returns across most of the board, apart from Solana, Polygon, Bitcoin Cash and Litecoin, which have retraced slightly overnight.
The Bitcoin rally, which has filtered through to the rest of the market, comes as yesterday’s trading volumes in spot Bitcoin exchange-traded funds (ETFs) broke records.
In the Markets
Total crypto market cap
$2.15 trillion (+7.89%)
What Bitcoin did yesterday
Daily high $57,555 | Daily low $54,464
Bitcoin market capitalisation
$1.13 trillion (+2.60%)
Bitcoin volume
$39.04 billion (+18.1%)
SP500
+0.17%
Fear and Greed Index
80 (Greed)
Bitcoin’s market dominance
53.87
The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.
Relative Strength Index (RSI)
61.16
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.
