Jasmy still the stand-out performer as Bitcoin looks solid ahead of US jobs data

BITCOIN continues to get comfortable above $70,000, trading for roughly $71,050 this morning, while Ethereum is moving sideways and hovering around $3,800. 

Japan's Jasmy coin is still in overdrive, reaching $0.043 this morning - a 24-hour rise of 14%, a weekly lift of 47% and 28-day climb of 125%.

Otherwise, there’s not much movement in the rest of the markets but analysts say there’s an underlying bullish sentiment taking hold, with open interest in Bitcoin hitting all-time highs. Open interest in Bitcoin is the total number of outstanding (not yet settled) contracts or positions in Bitcoin futures or options at a given time, indicating market activity and interest.

The latest employment numbers from the US set for release today will be an important indicator of where the Fed may go with interest rates. 

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In the Markets

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Total crypto market cap

$2.63 trillion (-0.13%)

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What Bitcoin did yesterday

Daily high $71,616 |  Daily low $70,178

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Bitcoin market capitalisation

$1.4 trillion (+0.14%)

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Bitcoin volume

$26.25 billion (-4.7%)

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CoinDesk Large Cap Select Index 

-0.07%

The CoinDesk Large Cap Select Index (DLCS) measures the market cap weighted performance of some of the largest cryptocurrencies and gives a general indication of the overall performance of the crypto market. 

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SP500

-0.02%

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Fear and Greed Index

65 (Greed) 

The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.

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Bitcoin’s market dominance

54.67

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

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Bitcoin Relative Strength Index (RSI)

51

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.