Total crypto market cap surges past $2 TRILLION as Bitcoin eyes up a shot at $57,000
CRYPTO markets are posting some impressive numbers this morning.
The price of Bitcoin is up by more than 10% overnight and other cryptocurrencies are following. Ethereum is up 6%, Solana is in the green by 7%, Cardano and Avalanche have each returned more than 7%, Bitcoin Cash is up 12%, and so on, and so on.
Global spot trading volumes of Bitcoin has shot up more than 230% overnight, with Bitcoin posting all-time highs in various emerging economies, including South Africa, where it’s currently trading for R1.091 million per Bitcoin.
The latest rally has pushed the market cap of all cryptocurrencies combined past the $2 trillion mark.
In the Markets
Total crypto market cap
$2.12 trillion (+6.57%)
What Bitcoin did yesterday
Daily high $56,844 | Daily low $54,464
Bitcoin market capitalisation
$1.1 trillion (+9.8%)
Bitcoin volume
$48.51 billion (+235%)
SP500
-0.38%
Fear and Greed Index
76 (Greed)
Bitcoin’s market dominance
53.52
The Bitcoin Market Dominance indicator measures the percentage of total cryptocurrency market capitalisation represented by Bitcoin at a given time.
Relative Strength Index (RSI)
57.28
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.
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.
