Bitcoin was trading around $16,880 this morning after briefly breaching $17,000 in the early hours, adding 2.31% to its price from yesterday.
Ethereum was also quick out the gates today, trading up 4.40% at $1,265. This means that Ethereum is trading 8.9% higher than this time last week.
Trading momentum in the third-gen crypto markets seems to have slowed somewhat, with Cardano trading flat at $0.3141 and Solana down 0.21%, changing hands for $13.67.
As for the wider market, it’s all eyes on Fed Chair Jerome Powell, today. Investors will be listening closely for any hints about future interest rate hikes in Powell’s address on the future outlook for the US economy.
Yesterday’s Crypto AM Daily in association with Luno
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 at time of writing is currently $853.169 billion.
What Bitcoin did yesterday
We closed yesterday, November 29 2022, at a price of $16,444.98. The daily high yesterday was $16,522.26, and the daily low was $16,139.40.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $324.32 billion. To put it into context, the market cap of gold is $11.708 trillion and Tesla is $562.56 billion.
The total spot trading volume reported by all exchanges over the last 24 hours was $25.050 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 52.51%.
Fear and Greed Index
Market sentiment today is 29, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 40.13. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 41.67. 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
“Bitcoin will take care of you if you take care of your Bitcoin.”
John Carvalho, CEO at Synonym
What they said yesterday
BTC bringing the heat…
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All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com 🙏🏻
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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
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