Bitcoin is trading around $17,100 this morning, up another 1.23% in the last day and 3.16% over seven days.
Ethereum has also added a percentage point over 24 hours, trading for $1,282.
As the dust has settled somewhat in the last week, experts say that cryptocurrency investors have again started looking at broader markets in deciding their next move. Yesterday’s suggestions by Federal Reserve Chair Jerome Powell that the Fed may start with more moderate rate hikes as early as December 2022 could be behind the flickers of optimism in crypto markets this morning, according to market analysts.
The Fear & Greed Index shows that uncertainty is still high, however, slipping back to 27 from yesterday’s 28, but it’s an improvement on last week’s 20. Will we see Bitcoin build on this momentum past $17,000? And will the rest of the industry follow?
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 at time of writing is currently $858.466 billion.
What Bitcoin did yesterday
We closed yesterday, November 30 2022, at a price of $17,168.57. The daily high yesterday was $17,190.94, and the daily low was $16,445.48.
Bitcoin market capitalisation
Bitcoin’s market capitalisation at time of writing is $329.997 billion.. To put it into context, the market cap of gold is $11.823 trillion and Tesla is $605.71 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges over the last 24 hours was $25.662 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 54.72%.
Fear and Greed Index
Market sentiment today is 27, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 40.31. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 43.38. 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
“Contrary to popular opinion, Bitcoin is not a belief system. Rather, it’s rooted in economic incentives that drive the behaviour of rational economic actors.”
Michael Nadeau, author, The DeFi Report
What they said yesterday
Eyes on the prize…
Bom dia, Bitcoin!
May it last…
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All feedback on Crypto AM Daily in association with Luno is welcome via email to [email protected] ????????
Crypto AM: Editor’s picks
Three-in-four wealth managers are gearing up for more cryptocurrency exposure
Crypto.com granted FCA licence to operate in UK
Q&A with Duncan Coutts, Principal Technical Architect at IO Global
Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’
MPs are falling silent over potential of cryptocurrency
Erica’s ‘Crypto Wars’ handed honours in Business Book Awards
‘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
The cryptocurrency fundraisers behind Ukraine’s military effort
Crypto crazy couple name baby after favourite digital asset
Crypto AM: Features
Crypto AM: Founders Series
Crypto AM: Industry Voices
Crypto AM: Contributors
Crypto AM: In Conversation with James Bowater
Crypto AM: Tomorrow’s Money with Gavin S Brown
Crypto AM: Mixing in the Metaverse with Dr Chris Kacher
Crypto AM: Visions of the Future, Past & Present with Alex Lightman
Crypto AM: Tiptoe through the Crypto with Monty Munford
Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry
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
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