The cryptocurrency markets have released their hold on last week’s gains. Bitcoin is down 1.73% on the day and has lost 4.18% over seven days. The leading cryptocurrency by market cap is changing hands for $19,081 this morning. Ethereum is also down 4.9% over the past week, trading for $1,282 this morning.
The jitters in both crypto and traditional markets follows a week of relative calm. Experts believe the strong jobs numbers in the US labour market is to blame for this, and the Fed will almost certainly continue with interest rate hikes until these and other indicators show signs of a cooling economy.
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Yesterday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Definitions and insights can be found at https://bytetree.com/research
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $919.288 billion.
What Bitcoin did yesterday
We closed yesterday, 10 October 2022, at a price of $19,141.88. The daily high yesterday was $19,515.47 and the daily low was $19,102.98.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $365.81 billion. To put it into context, the market cap of gold is $11.037 trillion and Tesla is $693.62 billion.
The total spot trading volume reported by all exchanges over the last 24 hours was $29.502 billion. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
The price volatility of Bitcoin over the last 30 days is 38.06%.
Fear and Greed Index
Market sentiment today is 22, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.41. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 46.35. 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 – an RSI reading of 30 or below indicates an oversold or undervalued condition.
Convince your Nan: Soundbite of the day
“I always have an allocation of Bitcoin”
Paul Tudor Jones, Trader and Hedge Fund Manager
What they said yesterday
Bitcoin Whitepaper Day fast approaching…
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For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit 2021 – you can now watch the event in two parts via YouTube
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.
All information is correct as of 08:00 BST