Two consecutive days of green candles for crypto
CRYPTOCURRENCY markets are showing signs of recovery, with Bitcoin climbing above $91,000 and Ethereum rising more than 3% overnight.
Bitcoin is now up around 6% over the past seven days. The Fear and Greed Index, while still in 'Fear' territory, has inched higher, suggesting a modest improvement in investor sentiment.
Bitcoin Cash (BCH) is among the day's top performers, surging 12%, with Arbitrum (ARB) and Chainlink (LINK) following closely behind.
In macroeconomic news, President Trump has scaled back some planned import tariffs following pressure from the auto industry.
US equity markets responded positively to the exemptions. "Trump - who has long fixated on how his policies perform in the markets - and his team were paying close attention to the stock market on Tuesday, watching as [markets] fell on the implementation of the tariffs," CNN reported.
"Many people close to Trump believe the markets will ultimately stabilize, two sources familiar with the discussions said, though the tumble was a jolt inside the West Wing."
Whether the renewed optimism in crypto and stock markets will hold remains to be seen.
In the markets
🌍 Total crypto market cap ⬆️
The global cryptocurrency market capitalisation is currently approximately $2.9 trillion, showing a 6.65% increase over the past 24 hours.
🟠 Bitcoin (BTC) ⬆️
Price: Currently trading at $91,465, reflecting a 4.21% increase in the last 24 hours.
- Daily high: $92,756
- Daily low: $87,717
💎 Ethereum (ETH) ⬆️
- Price: Currently trading at $2,290, reflecting a 3.35% increase in the last 24 hours.
- Daily high: $2,317
- Daily low: $2,168
📈 S&P 500 ⬆️
The S&P 500 index is currently up by 1.12% from the previous close.
😬 Fear & Greed Index
The Crypto Fear & Greed Index is currently at 30, signalling Fear among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for Bitcoin is at 59, indicating that the asset is neither oversold nor overbought.
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.
