Markets flatten out with Bitcoin stuck at $66,000, but Jasmy is still on the charge

TRADING is flat again this morning, with most large cap cryptocurrencies unmoved over the past 24 hours. Bitcoin is currently changing hands for just above $66k, after a steep drop last week saw it hit its lowest level in a month. 

Likewise, Ethereum continues to stagnate at just below the $3,600 marker after a drift downwards, despite SEC chairman Gary Gensler confirming that Ethereum ETFs will be here soon. A number of other alt coins took a major hit last week, with the likes of NEAR dropping by double digit percentages.

The stagnant performance will come as a disappointment to those who were predicting that the US Federal Reserve Bank’s decision to keep interest rates unchanged would lead to a breakout. 

Japan's much-celebrated token Jasmy continues to buck the trend and is still producing upward movement, as it has for more than a month. It's currently up more more than 4% in 24 hours at $0.036.

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In the Markets

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Total crypto market cap

$2.41 trillion (-0.34%)

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What Bitcoin did yesterday

Daily high $66,894 |  Daily low $66,018

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Bitcoin market capitalisation

$1.3 trillion (-0.4%)

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Bitcoin volume

$17.63 billion (+48.14%)

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CoinDesk Large Cap Select Index 

-1.12%

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

+0.039%

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Fear and Greed Index

71 (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

55.46

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)

40.71

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.