Price of Bitcoin slapped back from $25k after meeting resistance

The price of Bitcoin peaked this morning at $25,288 as it tests the $25k level, but has since been kicked back to $24,700.

However, Bitcoin was still trading in the green by one per cent over 24 hours. Ethereum has also fallen off the pace a little, trading flat at $1,680. 

Many of the younger large-cap cryptocurrencies have also lost momentum. Solana is down (-4%), so is Cardano (-2.3%) and Chainlink (-4%). Uniswap is also in the red with a 2% fall. 

Will we see the divergence between Bitcoin and other cryptocurrencies widen in the coming weeks as Bitcoin looks for support at $25,000? 

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 this morning was $1.134 billion.

What Bitcoin did yesterday

We closed yesterday, February 20, at a price of $24,829. The daily high yesterday was $25,020, and the daily low was $23,927.

Bitcoin market capitalisation

Bitcoin’s market capitalisation this morning was $483.086 billion. To put it into context, the market cap of gold is $12.169 trillion and Tesla is $659.11 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $27,799 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 35.86%.

Fear and Greed Index

Market sentiment today is 60, in Greed.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 44.40. Its lowest ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 68.62. 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 fam: Soundbite of the day

“We have proposed a system for electronic transactions without relying on trust.”

Satoshi Nakamoto, creator(s) of Bitcoin

What they said yesterday

Not bad numbers…

Bitcoin is money…

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

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Crypto AM: Editor’s picks

Sam Bankman-Fried: A tissue of lies soaked with fake tears?

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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Explained: Why the Treasury is so sold on stablecoins

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

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The cryptocurrency fundraisers behind Ukraine’s military effort

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Crypto AM: Features 

Crypto AM: Founders Series 

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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

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.

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