Crypto AM Daily in association with Luno

By Kimberly Butler

Bitcoin holds at $21k after shaky start to the week

Bitcoin continued to drift back towards $20k yesterday, as investors brace for the US Federal Reserve’s expected 75 basis point rate hike. The largest cryptocurrency by market cap was changing hands at about $21,368 at time of writing, up about 1 per cent over the past 24 hours but down more than 8 per cent since this time last week.

Other major cryptocurrencies also had a bit of a rollercoaster day, with Ethereum sinking as low as $1362 at one point. It’s since recovered to $1463 at time of writing, up 3 per cent since this time yesterday.

The Fear and Greed Index, which measures investor sentiment, briefly hit a high of 34 last week as the strong recovery in the crypto market spurred increased optimism among investors. It’s dropped back somewhat since, down to 28 today. It’s still way above last month’s lows, but there still seem to be some nerves out there about where we’re heading next.

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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
$985.044 billion.

What Bitcoin did yesterday

We closed yesterday, July 26 2022, at a price of $21,239.75 The daily high yesterday was $21,361.12 and the daily low was $20,776.82.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $408.034 billion.To put it into context, the market cap of gold is $11.26 trillion and Tesla is $811.13 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $26.385 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 52.86%.

Fear and Greed Index

Market sentiment today is 28, in Fear.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 42.39. Its lowest ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 46.22. 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

“Just remember, Tesla sold, miners sold, retail sold, Luna sold, 3AC went bust, Celsius went bust, Voyager went bust, BlockFi was rescued, all while we’re entering a global recession with rising rates… And #Bitcoin is still over $20k minting block after block. Incredible.”