Groundhog Day for Bitcoin as crypto uncertainties linger
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It’s another day in the red for Bitcoin, Ethereum and the rest of crypto as a mix of uncertainties around the US debt ceiling, crypto regulation, and renewed worries about inflation in the UK continue to plague traditional and crypto markets.
The price of Bitcoin fell a further 2% to the lower end of $26k while Ethereum dropped below $1.8k and continues to trade in line with the leading crypto.
There are few winners in the markets today, with most coins also losing their gains over seven days.
A lot has been made about the impasse on the debt ceiling deal in the US and its stalling effect on markets.
The big question is whether a successful deal will be the catalyst for investors to jump back in.
Yesterday’s Crypto AM Daily
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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 $1.103 billion.
What Bitcoin did yesterday
We closed yesterday, May 24, at a price of $26,334. The daily high yesterday was $27,224, and the daily low was $26,106.
Bitcoin market capitalisation
Bitcoin’s market capitalisation this morning was $508.419 billion. To put it into context, the market cap of gold is $12.934 trillion and Visa is $465.48 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $16.010 billion.
Fear and Greed Index
Market sentiment today is 51, in Neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 47.73. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 39.05. 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.
What they said yesterday
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Crypto AM: Editor’s picks
ChatGPT urges crypto conference panel not to become over-reliant on AI
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Mt. Gox customers will have to wait until November to recover lost Bitcoin funds
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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
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Q&A with Duncan Coutts, Principal Technical Architect at IO Global
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Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’
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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
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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
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Crypto AM: Tomorrow’s Money with Gavin S Brown
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Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
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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
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Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
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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.