Bitcoin is trading around $26k this morning, virtually unmoved from yesterday, while Ethereum has drifted into the negative by 1.4%.
Data by Glassnode shows that 88% of Bitcoin short-term holders – investors that have been invested for 155 days or less – are in the red after the sell-off.
Other large-cap cryptos have also found some footing after the volatility of late last week, most trading in line with the market leader.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.05 trillion
What Bitcoin did yesterday
🔺 Daily high $26,134
🔻 Daily low $26,126
Bitcoin market capitalisation
🟠 BTC $508.077 billion
🟡 Gold $12.742 trillion
💳 Visa $500.33 billion
🪣 Total spot trading volume $15.72 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
“With the market closing the week at around $26.1k, this represents a significant loss of market support, and the bulls now have their work cut out for them.”
Glassnode, on-chain analytics company
Whether you’re a Bitcoin expert or a total newbie – or even somewhere in between – you can now join the new HODLers Telegram community to learn more… or share your insights with others!
Our goal is simple: to provide a safe place where people can ask any question they want about Bitcoin, even if they think it’s a daft one! Learning Bitcoin takes time and we generally have the same questions when we first encounter it, so we know from our own experience having somewhere to ask a real person a specific question can be of great value!
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T’s and C’s: Open to UK residents only. All ages are welcome in the community, but you need to be over 18 to enter competitions. No purchase required.
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: 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
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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.