Lutnick keen on hoovering up Bitcoin as crypto markets stutter
THE markets continue to be jittery, with President Trump’s ongoing jazz approach to governance doing little to calm investors for any sustained period.
Despite walking back China tariffs and threats to fire Fed Chair Jerome Powell, markets dropped again overnight, with analysts suggesting traders were taking profits after the early weekend outbreak.
The big story yesterday was the creation of a new Bitcoin acquisition vehicle by Brandon Lutnick, son of US commerce secretary Howard Lutnick. Lutnick has partnered with SoftBank, Tether and Bitfinex to create Twenty One Capital, which will absorb billions in cryptocurrency from the other partners to buy up more Bitcoin – a move that heavily echoes the approach taken by Michael Saylor’s MicroStrategy, whose shares leapt after they pivoted to cryptocurrency investing.
In the markets
📊 5 top performers over 24hrs (gainers and losers)
⬇️ Optimism (OP): -1.43%
⬇️ Bitcoin Cash (BCH): -1.5%
⬇️ Cosmos (ATOM): -1.5%
⬇️ Tron (TRX): -1.67%
⬇️ Bitcoin (BTC): -2.4%
* Data is correct as at 07:31 GMT.
🌍 Total crypto market cap ⬇️
The global cryptocurrency market capitalisation is approximately
$2.46 trillion, a 2.46% decrease over the last 24 hours.
🟠 Bitcoin (BTC) ⬇️
Price: Currently trading at $91,764, marking a 2.73% decrease in the last 24 hours.
Daily high: $94,535
Daily low: $91,804
📈 S&P 500 ⬆️
The S&P 500 index is up approximately 2.51% since yesterday.
😬 Fear & Greed Index
The Fear and Greed Index currently stands at 53/100, indicating Neutral among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The RSI for Bitcoin is at approximately 62.91.
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.
