Mixed bag in crypto as interest rate announcement expected today

CHAINLINK (+5%) and Polygon (2%) are up, Bitcoin (-1%) and Ethereum (-1%) are down, while others such as Litecoin and Uniswap remain virtually unchanged since yesterday. 

The Fear and Greed index remains neutral, as Fed Chair Jerome Powell will announce the US central bank’s decision on interest rates later today. Most analysts and investors expect another pause on rates. 

Taking a step back, many of the large-caps have clawed back positions with significant gains over seven days. The price of Solana is up 17% over this timeframe, with Avalanche and Chainlink also showing double-digit returns. 

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In the Markets

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Total crypto market cap

$1.67 trillion (+2.51%)

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What Bitcoin did yesterday

 Daily high $43,817 |  Daily low $42,702

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Bitcoin market capitalisation

$842 billion (-0.97%)

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Bitcoin volume

$22.631 billion (+0.14%)

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SP500

-0.06%

Fear and Greed Index

59 (Neutral) 

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Bitcoin’s market dominance

52.44

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

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Relative Strength Index (RSI)

56.55

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.