The price of Bitcoin (BTC) continues to hold at above $20k, down around 1.7 per cent to $21,037 this morning. The largest cryptocurrency by market capitalisation is holding its ground, but can it build from here?
Most other major cryptocurrencies are also down this morning. Ethereum (ETH), the second-largest cryptocurrency, was recently changing hands at around $1,220, down one percent over the last 24 hours. Uniswap (UNI) is the big loser today, dropping more than eight percent after being one of last week’s bigger winners.
Traditional markets also continue to look stronger than they have recently. European stock markets opened higher this morning, with London’s FTSE 100 index jumping to its highest in over two weeks.
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Yesterday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Definitions and insights can be found at https://bytetree.com/research
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $940 billion.
What Bitcoin did yesterday
We closed yesterday, June 27 2022, at a price of $20,735.48. The daily high yesterday was $21,478.09 and the daily low was $20,620.20.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $400 billion. To put it into context, the market cap of gold is $11.622 trillion and Tesla is $761.21 billion.
The total spot trading volume reported by all exchanges over the last 24 hours was $21,943 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 74.44%.
Fear and Greed Index
Market sentiment today is 10, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.43. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 36.29. 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 is the way forward. It empowers individuals to resist oppression.”
Garry Kasparov, World Chess Grandmaster
What they said yesterday
Empowering individuals since 2009…
Tell us something we don’t know…
Never a bad move…
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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