Bitcoin highs and lows tread a tight margin as investors await today’s interest rate call
Yesterday’s highs and lows for the market leader were both around the $29k level, with Bitcoin today sticking to the same price range.
Ethereum is also drifting in the same direction – as are most other large cap cryptocurrencies – and trading for around $1.8k this morning.
Analysts expect the Federal Reserve, the central bank in the US, to announce a 0.25% rate hike later today, with some saying the markets may have already priced in another rate hike.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.17 trillion
🔺 0.17%
What Bitcoin did yesterday
🔺 Daily high $29,334
🔻 Daily low $29,058
Bitcoin market capitalisation
🟠 BTC $568.052 billion
🟡 Gold $13.01 trillion
💳 Visa $499.91 billion
Bitcoin volume
🪣 Total spot trading volume $10.744 billion
🔻25%
SP500
🌅 24hrs +0.28%
Fear and Greed Index
Bitcoin’s market dominance
📊 49.94
Relative Strength Index (RSI)
💪 41.55
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
Bitcoin adoption is not optional, it’s financial gunpowder.
Saifedean Ammous, author of The Bitcoin Standard
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All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com 🙏🏻
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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.