Bitcoin is trading firmly above $30k this morning – a level that was tested yesterday as the flagship cryptocurrency bounced back from a dip to $29.900.
Ethereum’s Ether continues to hover just below $1.9k. Both market leaders are down by less than 1%.
It’s a mixed bag in the rest of the crypto markets as the majority of large-caps are trading in a similar pattern to BTC and ETH.
Analysts say the momentum from the ‘BlackRock pivot’ has subsided somewhat but that July has historically been a strong month for Bitcoin.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.181 billion
What Bitcoin did yesterday
🌄 Closed $30,721
🔺 Daily high $30,636
🔻 Daily low $29,955
Bitcoin market capitalisation
🟠 BTC $590,150 billion
🟡 Gold $12.781 trillion
💳 Visa $473.96 billion
Total spot trading volume $14,562 billion
Fear and Greed Index
Bitcoin’s market dominance
Relative Strength Index (RSI)
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.
What they said yesterday
“Many of the past concerns are being addressed, suggesting that these kinds of products are more likely to be approved for general investor access.”
Jeremy Allaire, Circle co-founder and CEO
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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.