Major movement as Bitcoin punches through $44,000 and closes in on $45k
THERE are some large green candles illuminating the crypto markets this morning.
The price of Bitcoin has broken through the $44,000 level and is currently trading for $44,720 - its highest level since the launch of the spot Bitcoin ETFs in January.
Ethereum is trading for around $2,420, up by 2.5% overnight, as institutions like ARK Invest continue with the process of getting a spot Ethereum ETF approved. Next-gen cryptos have followed the market leaders into positive territory.
While it’s green across most markets, Cardano is up notably by 8% over the last 24 hours, with Polygon showing returns of more than 5%.
Taking a broader view, there are very few losers among the large caps this morning.
In the Markets
Total crypto market cap
$1.7 trillion (+3.30%)
What Bitcoin did yesterday
Daily high $44,367 | Daily low $42,783
Bitcoin market capitalisation
$874.36 billion (+3.85%)
Bitcoin volume
$24.08 billion (+40.40%)
SP500
+0.82%
Fear and Greed Index
56 (Neutral)
Bitcoin’s market dominance
59
The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.
Relative Strength Index (RSI)
52.75
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.
