By Darren Parkin
There’s no ignoring Larry Fink, the CEO of the biggest asset management company in the world, when he goes on Fox News and calls Bitcoin a revolutionary technology.
“Bitcoin is an international asset, it’s not based on any one currency and so it can represent an asset that people can [invest in] as an alternative,” he said yesterday.
BlackRock’s revised application for a spot BTC ETF is still under review at the SEC.
Bitcoin remains steady around $30,130 this morning, largely flat in the last 24 hours, while Ethereum’s Ether was in the same boat. Other large cap cryptocurrencies are trading in a similar pattern. Bitcoin Cash continues to rally, adding 8% to its price in the last day.
Crypto and stock markets didn’t move much following the Fed’s minutes yesterday, even though all officials agreed in the June meeting that more rate hikes lie in store.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.2 trillion
What Bitcoin did yesterday
🌄 Closed $30,514
🔺 Daily high $30,877
🔻 Daily low $30,225
Bitcoin market capitalisation
🟠 BTC $598.775 billion
🟡 Gold $12.707 trillion
💳 Visa $500.46 billion
Bitcoin volume
🪣 Total spot trading volume $13.724 billion
SP500
🌅 24hrs-0.20%
Fear and Greed Index
Bitcoin’s market dominance
📊 51.43
Relative Strength Index (RSI)
💪 63.29
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, while 30 or below indicates an oversold or undervalued condition.
What they said yesterday
“Crypto is digitising gold.”
Larry Fink, CEO of BlackRock
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 James.Bowater@cityam.com 🙏🏻
Crypto AM: Editor’s picks
FCA’s new crypto advertising rules met with mixed industry response
ChatGPT urges crypto conference panel not to become over-reliant on AI
Mt. Gox customers will have to wait until November to recover lost Bitcoin funds
Sam Bankman-Fried: A tissue of lies soaked with fake tears?
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
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
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.
