Bitcoin still below $20k after June sees biggest monthly loss since 2011
It may be a new month, but it seems Bitcoin’s woes aren’t quite finished yet. The weekend saw Bitcoin once again drop below $19k, before recovering slightly. It’s changing hands for $19,411 this morning – up almost one per cent over the past 24 hours.
All-in-all, June was undeniably a bad month for both crypto and the global financial markets. Bitcoin suffered its biggest monthly price drop since 2011, falling 37.3 per cent. Ethereum, meanwhile, finished last month down 45 per cent. Will July bring better fortunes?
The United States will not return to trading desks until July 5 due to Independence Day. How will it impact the price activity? Happy fourth of July to all our American friends.
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All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com 🙏🏻
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 $865 billion.
What Bitcoin did yesterday
We closed yesterday, July 3 2022, at a price of $19,297.08. The daily high yesterday was $19,588.27 and the daily low was $18,966.95.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $365 billion. To put it into context, the market cap of gold is $11.48 trillion and Tesla is $706.6 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $15,112 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 71.12%.
Fear and Greed Index
Market sentiment today is 14, in Extreme Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.32. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 29.25. 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.
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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