Bitcoin and Ethereum trundle along sideways as BlackRock pivot runs out of steam
Bitcoin is trading firmly above $30k this morning – a level that was tested yesterday as the flagship cryptocurrency bounced back from a dip to $29.900.
Ethereum’s Ether continues to hover just below $1.9k. Both market leaders are down by less than 1%.
It’s a mixed bag in the rest of the crypto markets as the majority of large-caps are trading in a similar pattern to BTC and ETH.
Analysts say the momentum from the ‘BlackRock pivot’ has subsided somewhat but that July has historically been a strong month for Bitcoin.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.181 billion
What Bitcoin did yesterday
🌄 Closed $30,721
🔺 Daily high $30,636
🔻 Daily low $29,955
Bitcoin market capitalisation
🟠 BTC $590,150 billion
🟡 Gold $12.781 trillion
💳 Visa $473.96 billion
Bitcoin volume
Total spot trading volume $14,562 billion
Fear and Greed Index
Bitcoin’s market dominance
📊 51.63
Relative Strength Index (RSI)
💪 67
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
“Many of the past concerns are being addressed, suggesting that these kinds of products are more likely to be approved for general investor access.”
Jeremy Allaire, Circle co-founder and CEO
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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.