Large cap cryptocurrencies trading above key levels while Wall Street gains continue
Bitcoin is up more than 2% in the last 24 hours and is again trading firmly above the $35,000 threshold – a level that’s been tested several times in the last few weeks.
Ethereum is up by less than one per cent over the same period, trading for $1,886. Other third-gen cryptocurrencies like Cardano, Polygon, Chainlink and Solana continue to post gains.
In traditional markets, optimism on Wall Street continues, with the SP500 recording seven straight days in the green, its longest winning streak in two years.
Yesterday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
Total crypto market cap
🔵 $1.34 trillion
🔺 0.4%
What Bitcoin did yesterday
🔺 Daily high $35,877
🔻 Daily low $34,536
Bitcoin market capitalisation
🟠 BTC $689.56 billion
🟡 Gold $13.03 trillion
💳 Visa $506.39 billion
Bitcoin volume
Total spot trading volume $18.71 billion
🔺 42.48%
Ethereum staking entry queue
1 hour 22 minutes
SP500
🔺 0.28%
FTSE/JSE Top 40
🔺0.14%
Fear and Greed Index
Bitcoin’s market dominance
52.84
Relative Strength Index (RSI)
72
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
CME Futures Open Interest just surpassed 100,000 BTC for the first time ever pic.twitter.com/9Kq8LZC2dF
— Will (@WClementeIII) November 8, 2023
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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.
