Sideways movement in crypto markets continues as investors sweat over today’s interest rate announcement

Most of the large-cap cryptocurrencies continue to trade sideways this morning, as Bitcoin remains virtually unchanged around $20,415 and Ethereum at $1,550. 

Solana and Cardano have taken a slight knock in the last 24 hours, with Solana down 3.12% at $31.83, and Cardano trading for $0.3994, down by 2.9% over the course of a day. 

The lacklustre market action is likely due to investors waiting for the Fed’s rate hike announcement set for later today, which will no doubt move the needle one way or the other. The big question is whether Bitcoin and the rest of the crypto market will follow traditional markets in what experts expect to be a big day of trading. 

Have you booked your tickets for the Crypto AM Summit and Awards? Click here… Crypto AM Summit & Awards 2022 – CityAM

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 $1.011 billion.

What Bitcoin did yesterday

We closed yesterday, November 1 2022, at a price of $20,485. The daily high yesterday was $20,647, and the daily low was $20,359.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $392.95 billion. To put it into context, the market cap of gold is $10.934 trillion and Tesla is $708.74 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $38,436 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 28.87%.

Fear and Greed Index

Market sentiment today is 30, in Fear.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 40.70. Its lowest ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 57.38. 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

“Governments can not stop this innovation.”

Patrick McHenry, U.S. representative for North Carolina

What they said yesterday

You love to see it…

Important point…

Embrace change

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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

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 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.



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

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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