New crypto week opens with a fanfare of green candles as Bitcoin holds above $90,000

BITCOIN remains steady yet clearly playful at around $91,000 this morning, maintaining a strong position above the key $90,000 level.

This resilience is noteworthy given the stumble in traditional markets. The S&P 500 fell 1.3% overnight as concerns about inflationary pressures tied to Trump-era policy expectations begin to weigh on sentiment, according to market analysts. While Wall Street digests these uncertainties, optimism in crypto markets continues.

Stellar, Synthetix, XRP, Dogecoin, and Cardano have logged notable gains to kick off the week, while Ethereum has entered a holding pattern, moving sideways in morning trading. The Fear and Greed Index remains in Extreme Greed territory, supported by sustained interest from first-time buyers on platforms like Luno.

Adding to the bullish sentiment, JPMorgan’s retail sentiment index for bitcoin and bitcoin-tied assets reached record highs. However, the bank warns that heightened expectations could introduce significant two-way volatility in the weeks ahead. The key question on everyone’s mind: which way will the next big move take us?

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In the Markets

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🌦️The Data... 

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Total crypto market cap

$3.2 trillion (+0.7%)

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What Bitcoin did yesterday

Daily high $88,774 |  Daily low $92,138.01

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Bitcoin market capitalisation

$1.82 trillion (58.8% of market)

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Bitcoin 24-hour trading volume

$46.7 billion (+4%)

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SP500

-1.32

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Fear and Greed Index

Extreme Greed

Source: Coinmarketcap

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 Relative Strength Index (RSI)

63

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…

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.

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