Crypto at a glance
A perfect storm of bullish news has swept Bitcoin into the new week on the crest of a wave, with an astronaut, a social media mogul, and a rapper steering the ship back up to the dizzy heights of $40k. But are things just getting started?
Having began its ascent last week on news that Tesla was considering again accepting the cryptocurrency for payment, the Bitcoin price soared 15 per cent last night to over $39,000 for the first time since June 17. Yesterday marked its sixth consecutive day in the green, during which time it increased more than 20 per cent in value, though the price has since dropped back to around $38,000 at time of writing.
This breakout seems to have been sparked by a much more mass market retailer than Tesla accepting the world’s largest cryptocurrency. Reports yesterday citing an insider familiar with the matter said that Amazon is looking to accept Bitcoin payments ‘by the end of the year’.
Not content with going into space, Jeff Bezos is looking to go to the moon. A source within Amazon told our own Darren Parkin, Editor of Crypto AM, that “It begins with Bitcoin – this is the key first stage of this crypto project, and the directive is coming from the very top… Jeff Bezos himself.”
He’s also joined by Twitter CEO and renowned Bitcoin bull Jack Dorsey, who is again pushing Bitcoin use cases in the micro-blogging platform. Dorsey told the company’s second-quarter earnings call that Bitcoin would be a “big part” of the company’s future and had the potential to further transform Twitter’s products and services.
Bitcoin’s breakout appears to have dragged other cryptocurrencies along in its wake, with everything up today. The total value of all cryptocurrencies is more than $1.5 trillion for the first time since June, with Ethereum up seven per cent over the last 24 hours to more than $2,300, Cardano up nine per cent to $1.35, and Bitcoin Cash up 11 per cent to above $500.
Busta Rhymes is having a whale of a time tweeting about it all too. Even the hype men are getting an upgrade.
Cudos proudly presents the Crypto AM 3rd Birthday Unlocking Summer Party at Boisdale of Canary Wharf on Wednesday, July 28…
The Crypto AM 3rd Birthday Unlocking Summer Party is a go!
An amazing champagne drinks reception followed by a three course summer lunch washed down with beautiful Mirabeau Azure Rosé! Followed by the chance to finally catch up and network with the community to the intoxicating beats of a Mediterranean beach club.
There will be a main keynote from Matt Hawkins, Founder & CEO of CUDOS, a community Keynote from Jason A Deane of Bitcoin Pioneers and a panel discussion around the ‘State of the Crypto Union’ moderated by Crypto AM contributor Alex Lightman.
I’m also delighted to announce that Ted Byron Baybutt the Director of British Sci-Fi Thriller ‘Slammer’ will be exhibiting an exclusive screening of the trailer to the film. He’s bringing his film crew so who knows? Attendees might end up featuring in the film.
I’m hugely grateful to our partners CUDOS, World Mobile, BEQUANT, Bitstamp, CryptoCompare, CEX.IO, Bitcoin Pioneers & GlobalBlock Digital Asset Trading whose generosity is enabling everyone to attend free of charge.
Would you like to help spread the adoption and education of Bitcoin in the UK and even stack some Sats while you’re doing it? Well, now you can!
The Bitcoin Pioneers community, backed by Barry Silbert’s Digital Currency Group, was created to introduce Bitcoin to a mainstream audience in a meaningful way and now has members right across the UK.
We share tips, stories and ideas on how to encourage others to try Bitcoin for the first time. And, thanks to support from Luno, each Pioneer gets £500 of Bitcoin a month to share with beginners, helping them get started.
So, if you’re passionate about Bitcoin, why not join today? Click here to find out more!
All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com 🙏🏻
Friday’s Crypto AM Daily in association with Luno…
In the markets
The Bitcoin economy
*Definitions and insights can be found at https://bytetree.com/insights/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $1,535,729,146,151.
What Bitcoin did yesterday
We closed yesterday, July 25 2021, at a price of $35,350.19, up from $34,292.45, the day before.
The daily high yesterday was $35,364.93 and the daily low was $33,881.84.
This time last year, the price of Bitcoin closed the day at $9,905.17. In 2019, it closed at $9,870.30.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $724.45 billion. To put it into context, the market cap of gold is $11.481 trillion and Facebook is $1.048 trillion.
The total spot trading volume reported by all exchanges over the last 24 hours was $35,443,317,426. 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 48.04%.
Fear and Greed Index
Market sentiment today is 26
Bitcoin’s market dominance
Bitcoin’s market dominance today is 47.67, Its lowest ever recorded dominance was 37.09 on January 8 2018.
Relative Strength Index (RSI)
The daily RSI is currently 68.80. 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 – an RSI reading of 30 or below indicates an oversold or undervalued condition.
Convince your Nan: Soundbite of the day
“I’ve had the honor of meeting Bitcoin core developers. They know economic history better than anyone I’ve ever met.”
– Cathie Woods, ARKinvest CEO
What they said yesterday
Busting a rhyme…
To the moon…
Crypto AM editor’s picks
Steve Jobs’ 1973 application to be auctioned in original format AND as an NFT
Surf legend Kelly Slater is ready to ride the crypto wave
Cardano leapfrogs Bitcoin as eToro clients most held cryptocurrency
Coinbase gets green light from German regulators
Crypto AM: Longer Reads
City AM Markets: What is Decentralised Finance (DeFi) by Aave
Crypto AM: Conversation with James Bowater
Crypto AM: Market View in association with Ziglu
Crypto AM: Technically Speaking in association with Zumo
Crypto AM: A Trader’s View with TMG
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Talking Legal
Crypto AM: Spotlight
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Definitively DeFi
Crypto AM Parliamentary Special
Part one of two – April 2021
Part two of two – April 2021
Five-part series – March 2021
Crypto AM Events
For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit – you can now watch the event in two parts via YouTube…