Bitcoin looking strong above $30,000
Bitcoin is up by 2% this morning and is currently trading for $30,500. It’s the first time since July that the market leader has breached the key level of $30k.
Ethereum is trading in line with Bitcoin, also up more than 2% and changing hands for $1,672.
Other notable movements include Chainlink’s (LINK) 10% push in price, while Solana (SOL) is up by 3.5%.
Wall Street is moving in the opposite direction as many of the crypto markets, with the SP500 and the Nasdaq indices both down by more than 1% in the last 24 hours.
Friday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.17 trillion
🔺 1.92%
What Bitcoin did yesterday
🔺 Daily high $30,193
🔻 Daily low $29,713
Bitcoin market capitalisation
🟠 BTC $599,798 billion
🟡 Gold $13.111 trillion
💳 Visa $485.38 billion
Bitcoin volume
🪣 Total spot trading volume $16.103 billion
🔺 27.72%
Ethereum staking entry queue
💎6 minutes
SP500
🔻 1.26%
FTSE/JSE Top 40
🔻 0.85%
Fear and Greed Index
Bitcoin’s market dominance
📊 52.47
Relative Strength Index (RSI)
💪 80
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
“It also showed that market participants and traders have their finger on the trading button and that there is a pent-up demand for good news on the crypto front.”
Jeff Embry, managing partner at crypto hedge fund Globe 3 Capital
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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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Cautionary Notes
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.