Bitcoin and Ethereum slip as crypto markets shed yesterday’s gains
Bitcoin has shed most of yesterday’s gains, dipping roughly 1% in the last 24 hours and trading around the $29k level.
Ethereum’s Ether is following the same trend, also down by about 1%, while other smart-contract cryptocurrencies are wading deeper in the red.
Solana(SOL) is down 3.7%, Cardano (ADA) by 3.5%, and Avalanche (AVAX) by 2.2%.
Analysts say that crypto markets have returned to familiar territory in the absence of any significant events to inspire investors to lasting action.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.16 trillion
🔻 1.5%
What Bitcoin did yesterday
🔺 Daily high $30,025
🔻 Daily low $28,961
Bitcoin market capitalisation
🟠 BTC $564,581 billion
🟡 Gold $13 trillion
💳 Visa $497.54 billion
Bitcoin volume
🪣 Total spot trading volume $15.07 billion
🔻 15%
SP500
🔻 1.38%
Fear and Greed Index
Bitcoin’s market dominance
📊 50.12
Relative Strength Index (RSI)
💪 47.14
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
“Asset tokenization isn’t just the future of capital markets, it’s a critical driver of the present.”
John Wu, President at Ava Labs
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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.