XRP sees multi-year high, Litecoin surges, and BTC tests $100k again
THE broader crypto market is seeing significant price increases, with Litecoin (LTC) soaring more than 15% overnight and XRP climbing above $3, its highest level in seven years.
Bitcoin (BTC) is back above the $100,000 mark and has been trading steadily at this level for the past 24 hours. The Fear and Greed Index reflects the positive sentiment, moving into 'Greed' territory after an extended stint in 'Neutral'.
Other notable moves include gains in altcoins, which are rallying alongside the market leader. Meanwhile, the S&P 500, often correlated with crypto during risk-on sentiment, rose 1.8% overnight, reflecting optimism in broader markets.
As the markets continue this upward trajectory, all eyes remain on upcoming macroeconomic events, including Monday’s inauguration, as traders anticipate further developments in market sentiment.
In the Markets
Total crypto market cap
$3.5 trillion (+3.66%)
What Bitcoin did yesterday
Daily high $100,702 | Daily low $96,511
Bitcoin market capitalisation
$1.97 trillion (+2.34%)
Bitcoin 24-hour trading volume
$57.35 billion (+4.86%)
SP500
+1.83
Fear and Greed Index
The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.
Bitcoin Relative Strength Index (RSI) (14)
59.435
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.
