More volatility, and Trump’s plans for a Bitcoin ETP

THERE'S more volatility among altcoins this morning after a week of ups and downs.

Aave (AAVE), Fantom (FTM), and Algorand (ALGO) are among the cryptocurrencies taking the brunt, each down between 7% and 8%.

Bitcoin is edging into the red, albeit relatively unscathed so far, still trading for around $97,200 - roughly the same price as yesterday.

Ethereum has pared all of yesterday’s gains, down by 3% overnight.

In crypto news, President Trump’s company, Truth.Fi is reportedly planning to launch a Bitcoin exchange-traded product (ETP), along with other ETPs, including one named “Made in America”.

Bloomberg analyst Eric Balchunas noted that while the numbers would likely pale in comparison to other similar existing BTC products, the cultural significance of it is remarkable.

In macro news, the US jobs report for January is expected to show later today that hiring slowed at the start of 2025, while the unemployment rate remained flat.

Analysts predict a non-farm payroll increase of 170,000 in January, with the unemployment rate steady at 4.1%. Will markets stir if the numbers come in hotter or cooler than expected? It’s worth keeping an eye on. ‍

In the markets‍

🌦️The Data 

🌍 Total crypto market cap

The global cryptocurrency market capitalisation is approximately $3.21 trillion, reflecting a 1.15% decrease over the last 24 hours.

🟠 Bitcoin (BTC)

• Price: Currently trading at $96,684, down 1.59% in the last 24 hours.
• Daily high: $99,167
• Daily low: $95,761
• Market cap: Approximately $1.93 trillion.
• 24-Hour trading volume: $65.3 billion.

💎 Ethereum (ETH)

• Price: Currently trading at $2,713.63, a decrease of 4.18% in the last 24 hours.
• Daily high: $2,854.68
• Daily low: $2,669.54
• Market cap: Approximately $332.4 billion.
• 24-Hour trading volume: $44.3 billion.

S&P 500

The S&P 500 index is at 6,061.48, up 0.66% from the previous close.

Fear and Greed Index

The Crypto Fear & Greed Index is currently at 49, indicating a neutral sentiment among investors.

Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for Bitcoin is at 46, suggesting that the asset is neither overbought nor oversold at this time.

‍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.