A HANDFUL of cryptocurrencies are clawing back losses after yesterday’s market-wide downturn.

Maker (MKR) has surged almost 20%, while several others have bounced back by more than 10%. Bitcoin remains under pressure, down 1.2% over the past 24 hours, while Ethereum has edged up around 2.5%.

Despite today’s recovery, the broader impact of the sell-off is clear. Most cryptocurrencies remain well below their weekly highs, with significant ground to regain before turning positive over seven days.

Some analysts point to uncertainty around AI stocks as a factor in the decline, noting that weakness in the sector also weighed on US equity markets. All eyes are now on Nvidia’s fourth-quarter earnings report, expected later today. Given Nvidia’s role as a key AI sector driver, will the results shape broader risk-on market sentiment?

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In the markets 

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🌦️The Data...

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🌍 Total crypto market cap ⬆️

The global cryptocurrency market capitalisation is currently approximately $2.92 trillion, showing a 0.8% increase over the past 24 hours.

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🟠 Bitcoin (BTC) ⬇️

• Price: Currently trading at $88,441, reflecting a 1.23% decrease in the last 24 hours.
• Daily high: $89,541
• Daily low: $86,841 

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💎 Ethereum (ETH) ⬆️

• Price: Currently trading at $2,463, reflecting a 2.58% increase in the last 24 hours.
• Daily high: $2,523
• Daily low: $2,358

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📈 S&P 500

The S&P 500 index is currently down by 0.47% from the previous close.

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😬 Fear & Greed Index

The Crypto Fear & Greed Index is currently at 26, signalling 'Fear' among investors.

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📊 Bitcoin Relative Strength Index (RSI) (14)

The 14-day RSI for Bitcoin is at 29, indicating that the asset is oversold at this time.

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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.