It’s been a quiet day in the markets as Bitcoin and Ethereum continue to hover at yesterday’s prices.
The Fear and Greed Index has ticked up a few points from yesterday but continues to sit in neutral. It’s also been an uneventful 24 hours in other crypto markets, with most coins dipping slightly into positive or negative territory.
The US stock market has been muted as investors keep an eye on the debt ceiling story coming out of the US and whether the country will meet its financial obligations in June.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market this morning was $1.130 billion.
What Bitcoin did yesterday
We closed yesterday, May 15, at a price of $27,192. The daily high yesterday was $27,646, and the daily low was $26,766.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $527.870 billion. To put it into context, the market cap of gold is $13.28 trillion and Tesla is $529 billion.
The total spot trading volume reported by all exchanges over the last 24 hours was $12.757 billion.
Fear and Greed Index
Market sentiment today is 54, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 48. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 47.87. 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.
Soundbite of the day
The only assumption Satoshi made when designing #Bitcoin was that individuals would act in their self-interest. It’s all built on that one simple law of human nature. Until that law is no longer true, Bitcoin will continue setting higher highs.
Jesse Myers, COO of Onramp Bitcoin
What they said yesterday
Would you like to help spread the adoption and education of Bitcoin in the UK and even stack some Sats while you’re doing it? Well, now you can!
The Bitcoin Pioneers community, backed by Barry Silbert’s Digital Currency Group, was created to introduce Bitcoin to a mainstream audience in a meaningful way and now has members right across the UK.
We share tips, stories and ideas on how to encourage others to try Bitcoin for the first time. And, thanks to support from Luno, each Pioneer gets £500 of Bitcoin a month to share with beginners, helping them get started.
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All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com 🙏🏻
Crypto AM: Editor’s picks
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
‘Let people invest’: Matt Hancock makes case for liberal crypto rules
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.