Bitcoin’s price is up 2.8% overnight, pushing past another crucial level of $38,000 in the process. The market leader posted a yearly high at $38,360, yesterday.
Ethereum is up by 2.8%, further strengthening its position above $2,000.
Many of the large caps that were in the red yesterday have rebounded. Polygon, Cardano and Polkadot have all recorded gains of more than 2%, while Avalanche and Solana have both rallied by more than 8%.
The market cap of all cryptocurrencies combined has increased by 2.3% overnight.
Yesterday’s Crypto AM Daily
In the Markets
Total crypto market cap
🔵 $1.43 trillion
What Bitcoin did yesterday
🔺 Daily high $38,379
🔻 Daily low $36,881
Total spot trading volume $22.75 billion
Ethereum staking entry queue
1 hour 8 minutes
FTSE/JSE Top 40
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
“Talk of ETF approval misses the forest for the trees. It’s not just about immediate reactions or flows. It’s about the recognition of $BTC as an institutional asset.”
Dylan LeClair, Analyst at UTXO Management
Crypto AM: Editor’s picks
Sam Altman retakes OpenAI throne – four days after being sacked
Kraken appoints crypto entrepreneur and fintech consultant Bivu Das to drive next chapter of UK growth story
TransformBase initiative set for launch in November
FCA’s new crypto advertising rules met with mixed industry response
ChatGPT urges crypto conference panel not to become over-reliant on AI
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’
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
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.