Monday, April 25, 2022 11:00 a.m.
It’s been a choppy start to the week in the crypto markets, with the price of Bitcoin dropping again below $40,000 on Saturday and dropping again this morning to around $38,500.
The price of the major cryptocurrency is currently down around 3% in the past 24 hours. The fall means that Bitcoin yesterday closed a fourth consecutive weekly candle in the red for the first time since June 2020.
Other major cryptocurrencies fared even worse, with Ethereum down 4%. XRP and Uniswap are the big losers today, both down around 8%.
Price activity this morning echoes a broader decline in global financial markets amid concerns about the general health of the global economy, with new Covid-19 lockdowns in China adding to the Russian invasion of Ukraine and rising cost of living.
The correlation between Bitcoin and traditional markets has been high this year, and today’s crash is one of the main reasons it has many investors concerned. The UK stock market opened at its lowest level in five weeks, while the Chinese stock market fell 3.5% today to its lowest level since the end of May 2020.
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Yesterday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin Economy
*Definitions and ideas can be found at https://bytetree.com/research
Total Crypto Market Cap
The total capitalization of the entire cryptocurrency market at the time of writing is currently $1.772 trillion.
What Bitcoin Did Yesterday
We closed yesterday, April 24, 2022, at the price of $39,469.29. Yesterday’s daily high was $39,845.92 and the daily low was $39,233.54.
bitcoin market capitalization
The market capitalization of Bitcoin at the time of writing is $732.84 billion. To put it into context, Gold’s market cap is $12.173 trillion and Tesla’s is $1.038 trillion.
bitcoin volume
The total spot trading volume reported by all exchanges in the last 24 hours was $24.18 billion. High volumes may indicate that a large price move has stronger support and is more likely to be sustained.
Volatility
Bitcoin price volatility over the past 30 days is 36.95%.
Fear and Greed Index
Market sentiment today is 23in Extreme Fear.
Bitcoin market dominance
Bitcoin market dominance today is 42.07. His lowest dominance on record was 37.09 on January 1, 2018.
Relative Strength Index (RSI)
The daily RSI is currently 39.23. Values of 70 or higher indicate that an asset is becoming overbought and may be primed for a trend reversal or undergoing a price correction – an RSI reading of 30 or lower indicates an oversold or undervalued condition.
Convince your grandmother: extract of the day
“In a world going digital, Bitcoin becomes collateral, and most investors are just starting from scratch.”
Mike McGlone, Senior Commodity Strategist at Bloomberg
what they said yesterday
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Every day we hodlin’…
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Crypto on the Podium
Crypto AM: Events
For those of you who missed the 2021 Crypto AM DeFi & Digital Inclusion Online Summit – you can now watch the two-part event via YouTube
part one
https://www.youtube.com/watch?v=dvqNMNZTIDE
Second part
https://www.youtube.com/watch?v=WXhX_-Tr5j0
Cautionary Notes
It’s certainly tempting to get carried away with the excitement, but please heed these caveats: do your own research, only invest what you can afford, and make good decisions. The indicators in this article will hopefully help you. Remember though, the content of this article is for informational purposes only and does not constitute 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 correct as of 08:00 BST