Bitcoin back above $22k on a wave of investor optimism over inflation
![](https://www.cityam.com/wp-content/uploads/2022/08/CAMD-G89-1024-luno.jpg?w=742)
The price of Bitcoin is holding above $22,000 this morning, after a bounce on Friday took the largest cryptocurrency by market capitalisation above $21,000 for the first time in more than a fortnight.
Bitcoin is currently changing hands for $22,155 – up about 2.62 per cent over the past 24 hours.
The bounce comes ahead of tomorrow’s release of the latest Consumer Price Index (CPI), with investors hopeful for another slight decline in inflation that might drive the US central bank to dial back its current programme of interest rate increases.
Elsewhere, other major cryptocurrencies are mostly flat this morning, with the price of Ethereum down 0.19 per cent since this time yesterday to $1,756. Ethereum is expected to complete its long-awaited upgrade on Thursday, which will change the way its network approves transactions and potentially limit supply and give it stronger properties as a store of value similar to Bitcoin.
Have you booked your tickets for the Crypto AM Summit and Awards? Click here… Crypto AM Summit & Awards 2022 – CityAM
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/research
Total crypto market cap
The total capitalisation of the entire cryptocurrency market at time of writing is currently $1.069 trillion.
What Bitcoin did yesterday
We closed yesterday, September 11 2022, at a price of $21,769.26. The daily high yesterday was $21,770.55 and the daily low was $21,406.94.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $425.27 billion. To put it into context, the market cap of gold is $11.44 trillion and Tesla is $932.3 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $44.408 billion. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.
Volatility
The price volatility of Bitcoin over the last 30 days is 46.15%.
Fear and Greed Index
Market sentiment today is 25, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.11. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 61.07. 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 a risk asset with a specific set of investment characteristics that become increasingly more attractive the more irresponsible monetary and fiscal policy becomes.”
Travis Kling, Founder and Chief Investment Officer, Ikigai Asset Management
What they said yesterday
Ether on the up…
Back to basics…
Smart money wins…
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All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com 🙏🏻
Crypto AM: Editor’s picks
Three-in-four wealth managers are gearing up for more cryptocurrency exposure
![](https://www.cityam.com/wp-content/uploads/2022/09/bitcoin-gd34f8a137_1920.jpg?w=742)
Crypto.com granted FCA licence to operate in UK
![](https://www.cityam.com/wp-content/uploads/2022/08/292439278_5254570434635344_4426974130751420662_n-1.png)
Q&A with Duncan Coutts, Principal Technical Architect at IO Global
![](https://www.cityam.com/wp-content/uploads/2022/07/Duncan-Coutts-1.png)
Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’
![](https://www.cityam.com/wp-content/uploads/2022/06/Jamie-Bartlett-Author-Image-Credit-Pelle-Sjoden-landscape.png?w=742)
MPs are falling silent over potential of cryptocurrency
![](https://www.cityam.com/wp-content/uploads/2022/05/london-ga81f97458_1920.jpg?resize=742,495)
Erica’s ‘Crypto Wars’ handed honours in Business Book Awards
![](https://www.cityam.com/wp-content/uploads/2022/05/erica-1.jpeg?resize=742,557)
‘Let people invest’: Matt Hancock makes case for liberal crypto rules
![](https://www.cityam.com/wp-content/uploads/2022/04/1e0f0286-961c-4ff6-a588-33a7ef238c52-1.jpg?w=830)
Explained: Why the Treasury is so sold on stablecoins
![](https://www.cityam.com/wp-content/uploads/2021/12/GettyImages-1016927674.jpg)
Fears crypto is used to avoid sanctions ‘misplaced,’ says Matt Hancock
![](https://www.cityam.com/wp-content/uploads/2022/01/Hancock-1.jpg)
The cryptocurrency fundraisers behind Ukraine’s military effort
![](https://www.cityam.com/wp-content/uploads/2022/02/marching-g9415e9e86_1920.jpg)
Crypto crazy couple name baby after favourite digital asset
![Cryptocurrency-loving parents Bruno Karno and his wife Agatha have named their first-born Cardano in honour of their favourite crypto.](https://www.cityam.com/wp-content/uploads/2022/01/DSC05702-e1641920873613.jpg?w=1024)
Crypto AM: Features
Crypto AM: Founders Series
![](https://www.cityam.com/wp-content/uploads/2020/07/GettyImages-1169704211.jpg?w=960)
Crypto AM: Industry Voices
![Changpeng 'CZ' Zhao, CEO of Binance](https://www.cityam.com/wp-content/uploads/2021/07/CZ-Binance.jpg?w=960)
Crypto AM: Contributors
Crypto AM: In Conversation with James Bowater
![Charles Hoskinson and James Bowater landscape](https://www.cityam.com/wp-content/uploads/2021/04/Charles-Hoskinson-and-James-Bowater-landscape-scaled.jpg?w=960)
Crypto AM: Tomorrow’s Money with Gavin S Brown
![Tomorrow's Money with Gavin S Brown](https://www.cityam.com/wp-content/uploads/2021/11/Gavin-S-Brown-Crypto-AM.jpg?w=960)
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
![Dr Chris Kacher Mixing in the Metaverse](https://www.cityam.com/wp-content/uploads/2021/08/Dr-Chris-Kacher-Mixing-in-the-Metaverse-4.jpg?w=902)
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
![Alex Lightman Visions of the future, past and present](https://www.cityam.com/wp-content/uploads/2021/08/Alex-Lightman-Visions-of-the-future-past-and-present.jpg?w=960)
Crypto AM: Tiptoe through the Crypto with Monty Munford
![Monty Munford robbed out header](https://www.cityam.com/wp-content/uploads/2021/08/Monty-Munford-robbed-out-header.jpg?w=903)
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
![Jonny Fry Taking a Byte out of Digital Assets](https://www.cityam.com/wp-content/uploads/2021/11/CAMD-G89-1024-JFry-copy-6.jpg?w=960)
Crypto on the catwalk
![Stefania Barbaglio Crypto on the Catwalk](https://www.cityam.com/wp-content/uploads/2021/09/CAMD-G89-1024-SBarbaglio.jpg?w=960)
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
Part One
https://www.youtube.com/watch?v=dvqNMNZTIDE
Part Two
https://www.youtube.com/watch?v=WXhX_-Tr5j0
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.
All information is correct as of 08:00 BST