Bitcoin finds footing on unsteady ground
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Bitcoin has found support around $21,700 after dipping to $21,519 yesterday.
The original cryptocurrency was trading at $21,830 this morning, up by one per cent over 24 hours. Ethereum is holding the line at $1,510, in the green by 1.5% over the same period.
Other smart contract cryptos are following a similar trend. Cardano is back at $0.36, Solana up by 4%, while Uniswap has lifted by two per cent.
It’s a big day for the markets as the US Labour Department is set to release the January numbers of the Consumer Price Index (CPI). The CPI is a widely followed inflation indicator that measures the price of consumer goods. A higher than expected increase in the price of goods may spell more aggressive rate hikes in future. Whatever the outcome, it’s keeping investors on the backfoot until there’s more certainty.
Yesterday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Data can be found at https://terminal.bytetree.com/
Total crypto market cap
The total capitalisation of the entire cryptocurrency market this morning was $1.004 billion.
What Bitcoin did yesterday
We closed yesterday, February 13, at a price of $21,808. The daily high yesterday was $21,898, and the daily low was $21,460.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $420.366 billion. To put it into context, the market cap of gold is $12.339 trillion and Tesla is $615.86 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $22.980 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 32.48%.
Fear and Greed Index
Market sentiment today is 50, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.76. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 47.71. 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 fam: Soundbite of the day
“Every place I been to today [in El Zonte] accepted Bitcoin: Restaurants, vendors, surf shops, hotels, purpuserías, …. EVERY SINGLE PLACE. No problems, no excuses. It worked perfect! No banks, tiny fees, decentralised and permissionless. This is the future.”
Carl B Menger, Bitcoin Hodler, tourist
What they said yesterday
It’s easy to get lost in the noise…
Looks very much alive…
👀
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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
Sam Bankman-Fried: A tissue of lies soaked with fake tears?
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Three-in-four wealth managers are gearing up for more cryptocurrency exposure
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Crypto.com granted FCA licence to operate in UK
![This image has an empty alt attribute; its file name is 292439278_5254570434635344_4426974130751420662_n-1.png](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
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Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’
![This image has an empty alt attribute; its file name is Jamie-Bartlett-Author-Image-Credit-Pelle-Sjoden-landscape.png](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
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Erica’s ‘Crypto Wars’ handed honours in Business Book Awards
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‘Let people invest’: Matt Hancock makes case for liberal crypto rules
![This image has an empty alt attribute; its file name is 1e0f0286-961c-4ff6-a588-33a7ef238c52-1.jpg](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
![This image has an empty alt attribute; its file name is GettyImages-1016927674.jpg](https://www.cityam.com/wp-content/uploads/2021/12/GettyImages-1016927674.jpg)
Fears crypto is used to avoid sanctions ‘misplaced,’ says Matt Hancock
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The cryptocurrency fundraisers behind Ukraine’s military effort
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Crypto AM: Features
Crypto AM: Founders Series
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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
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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.