Global financial markets jittery amid fresh China Covid lockdowns

It’s been an unsteady start to the week in the crypto markets, with the Bitcoin price dropping below $40k again on Saturday and falling further this morning to around the $38,500 mark.

The price of the leading cryptocurrency is currently down around three per cent over the past 24 hours. The fall means that Bitcoin yesterday closed a fourth consecutive weekly candle in the red for the first time since June 2020.

Other major cryptocurrencies have fared even worse, with Ethereum down four per cent. XRP and Uniswap are the big losers today, both down around eight per cent. 

The price activity this morning echoes a wider decline across global financial markets amid anxiety over the general health of the global economy, with China’s fresh Covid-19 lockdowns adding to Russia’s invasion of Ukraine and the rising cost of living.

The correlation between Bitcoin and traditional markets has been high this year, and today’s crash is a key reason why it concerns many investors. The UK’s stock market has opened at its lowest in five weeks, while China’s stock market has tumbled 3.5 per cent today to its lowest level since late May 2020. 

Would you like to help spread the adoption and education of Bitcoin in the UK and even stack some Sats while you’re doing it? Well, now you can!

The Bitcoin Pioneers community, backed by Barry Silbert’s Digital Currency Group, was created to introduce Bitcoin to a mainstream audience in a meaningful way and now has members right across the UK.

We share tips, stories and ideas on how to encourage others to try Bitcoin for the first time. And, thanks to support from Luno, each Pioneer gets £500 of Bitcoin a month to share with beginners, helping them get started.

So, if you’re passionate about Bitcoin, why not join today? Click here to find out more!

All feedback on Crypto AM Daily in association with Luno is welcome via email to [email protected] ????????

Yesterday’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 $1.772 trillion.

What Bitcoin did yesterday

We closed yesterday, April 24 2022, at a price of $39,469.29. The daily high yesterday was $39,845.92 and the daily low was $39,233.54. 

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $732.84 billion. To put it into context, the market cap of gold is $12.173 trillion and Tesla is $1.038 trillion. 

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $24.18 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 36.95%.

Fear and Greed Index

Market sentiment today is 23, in Extreme Fear.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 42.07. Its lowest ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 39.23. 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

“In a world, going digital, Bitcoin is becoming collateral, and most investors are just starting to move from zero.”

Bloomberg senior commodity strategist Mike McGlone

What they said yesterday

Big news?

Every day we’re hodlin’…

 Happy Anniversary…

Crypto AM: Editor’s picks

‘Let people invest’: Matt Hancock makes case for liberal crypto rules

Explained: Why the Treasury is so sold on stablecoins

Fears crypto is used to avoid sanctions ‘misplaced,’ says Matt Hancock

Meet the hackers helping people recover lost crypto assets

The cryptocurrency fundraisers behind Ukraine’s military effort

Exclusive: Fireblocks valuation climbs to $8bn in $550m funding round

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.

Bitcoin hashrate touches new all time high

Bitcoin mining company - Illustrations of Cryptocurrency

Peter McCormack: Transforming Bedford FC into a global Bitcoin brand

In an interview with Crypto AM, Bitcoin investor and podcaster Peter McCormack opens up about his purchase of Bedford FC.

Crypto AM: Features 

Crypto AM: Founders Series 

https://www.cityam.com/profile/crypto-am-founders-series/

Crypto AM: Industry Voices 

Changpeng 'CZ' Zhao, CEO of Binance

Crypto AM: Contributors 

Crypto AM: In Conversation with James Bowater

Charles Hoskinson and James Bowater landscape

Crypto AM: Tomorrow’s Money with Gavin S Brown

Tomorrow's Money with Gavin S Brown

Crypto AM: Mixing in the Metaverse with Dr Chris Kacher

Dr Chris Kacher Mixing in the Metaverse

Crypto AM: Visions of the Future, Past & Present with Alex Lightman 

Alex Lightman Visions of the future, past and present

Crypto AM: Tiptoe through the Crypto with Monty Munford 

Monty Munford robbed out header

Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry

Jonny Fry Taking a Byte out of Digital Assets

Crypto on the catwalk

Stefania Barbaglio Crypto on the Catwalk

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

For all the latest Lifestyle News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TheDailyCheck is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected] The content will be deleted within 24 hours.