Bitcoin and Ethereum are inching upwards, both gaining more than 1% this morning, while the rest of the crypto markets also reflect investor optimism.
SOL (Solana) is up 6% while MATIC (Polygon) has rallied by 9% overnight. Cardano is up 3%.
Investors will be keeping a close eye on consumer price index (CPI) numbers and jobless to be released later this week, which will give some insight into the Fed’s next move with rate hikes.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.19 trillion
What Bitcoin did yesterday
🌄 Closed $30,414
🔺 Daily high $31,026
🔻 Daily low $29,985
Bitcoin market capitalisation
🟠 BTC $592,861 billion
🟡 Gold $12.812 trillion
💳 Visa $498.8 billion
🪣 Total spot trading volume $15.026 billion
🌅 24hrs +0.24%
Fear and Greed Index
Bitcoin’s market dominance
Relative Strength Index (RSI)
What they said yesterday
“Crypto has withstood a staggering 525 basis points of federal reserve hiking and is on the other side of one of the nastiest deleveragings in financial history. The market expects one more hike with 95% certainty, and then that the Fed will be done. The Fed’s dot plot implies rate headwinds will become tailwinds in 2024 and 2025. 2019 is uncannily similar to 2023’s trajectory.” – Vance Spencer, co-founder of Hi-Framework
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Crypto AM: Editor’s picks
FCA’s new crypto advertising rules met with mixed industry response
ChatGPT urges crypto conference panel not to become over-reliant on AI
Mt. Gox customers will have to wait until November to recover lost Bitcoin funds
Sam Bankman-Fried: A tissue of lies soaked with fake tears?
Three-in-four wealth managers are gearing up for more cryptocurrency exposure
Crypto.com granted FCA licence to operate in UK
Q&A with Duncan Coutts, Principal Technical Architect at IO Global
Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’
MPs are falling silent over potential of cryptocurrency
Erica’s ‘Crypto Wars’ handed honours in Business Book Awards
Crypto AM: Features
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Contributors
Crypto AM: In Conversation with James Bowater
Crypto AM: Tomorrow’s Money with Gavin S Brown
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
Crypto on the catwalk
Crypto AM: Events
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. City AM, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.