Daily briefing: Bitcoin breaks through $17,000

Bitcoin is trading for $17,106 at the time of writing, up another 1.23% in the last day and 3.16% over seven days. Ethereum has also added a percentage point over 24 hours, trading for $1,282 at the time of writing.


As the dust has settled somewhat in the last week, experts say that cryptocurrency investors have again started looking at broader markets in deciding their next move. Yesterday’s suggestions by Federal Reserve Chair Jerome Powell that the Fed may start with more moderate rate hikes as early as December 2022 could be behind the flickers of optimism in crypto markets this morning, according to market analysts.


The Fear & Greed Index shows that uncertainty is still high, however, slipping back to 27 from yesterday’s 28, but it’s an improvement on last week’s 20 in Extreme Fear. Will we see Bitcoin build on this momentum past $17,000? And will the rest of the industry follow?

NamePricePrice Change (24h)Price change (7 days)
Bitcoin (BTC)$17,106.12+1.23%+3.16%
Ethereum (ETH)$1,282.22+1.03%+6.91%
XRP (Ripple)$0.4009-0.34%+5.20%
Litecoin (LTC)$77.20+1.69%-0.75%
Bitcoin Cash (BCH)$112.31-0.93%-1.65%
Chainlink (LINK)$7.54+1.21%+12.24%
Uniswap (UNI)$5.760.47%+4.58%
Cardano(ADA)$0.3157+0.22%-0.17%
Solana(SOL)$13.89+1.31%+2.41%

Total crypto market cap

The total capitalisation of the entire cryptocurrency market at time of writing is currently $858.466 billion.

What Bitcoin did yesterday

We closed yesterday, 30 November 2022, at a price of $17,168.57. The daily high yesterday was $17,190.94, and the daily low was $16,445.48.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $329.997 billion. To put it into context, the market cap of gold is $11.823 trillion and Tesla is $605.71 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $25.662 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 54.72%.

Fear and Greed Index

Market sentiment today is 27, in Fear.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 40.31. Its lowest ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 43.38. 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

“Contrary to popular opinion, Bitcoin is not a belief system. Rather, it’s rooted in economic incentives that drive the behaviour of rational economic actors.”

Michael Nadeau, author, The DeFi Report

What they said yesterday

Eyes on the prize

Bom dia, Bitcoin! 

May it last

_______________________________________________

30/11/22

At the time of writing, Bitcoin is trading at $16,847, adding 2.31% to its price from yesterday. Ethereum is also quick out the gates this morning, trading up 4.40% at $1,265. This means that Ethereum is trading 8.4% higher than this time last week. 

Trading momentum in the third-gen crypto markets seems to have slowed somewhat, with Cardano trading flat at $0.3141 and Solana down 0.21%, changing hands for $13.67. 

As for the wider market, it’s all eyes on Fed Chair Jerome Powell, today. Investors will be listening closely for any hints about future interest rate hikes in Powell’s address on the future outlook for the US economy.

NamePricePrice Change (24h)Price change (7 days)
Bitcoin (BTC)$16,874.07+2.31%+1.89%
Ethereum (ETH)$1,265.77+4.40%+8.48%
XRP (Ripple)$0.4002+2.40%+6.38%
Litecoin (LTC)$77.89+1.69%-0.75%
Bitcoin Cash (BCH)$112.31+0.71%-1.89%
Chainlink (LINK)$7.41+0.03%+13.61%
Uniswap (UNI)$5.73+4.34%+4.43%
Cardano(ADA)$0.3141+0.87%-0.31%
Solana(SOL)$13.67-0.21%+4.45%

Total crypto market cap

The total capitalisation of the entire cryptocurrency market at time of writing is currently $853.169 billion.

What Bitcoin did yesterday

We closed yesterday, 29 November 2022, at a price of $16,444.98. The daily high yesterday was $16,522.26, and the daily low was $16,139.40.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $324.32 billion. To put it into context, the market cap of gold is $11.708 trillion and Tesla is $562.56 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $25.050 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 52.51%.

Fear and Greed Index

Market sentiment today is 29, in Fear.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 40.13. Its lowest-ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 41.67. 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

“Bitcoin will take care of you if you take care of your bitcoin.”

John Carvalho, CEO at Synonym

What they said yesterday

Wise man

Like lightning

BTC bringing the heat

_______________________________________________

29/11/22

Bitcoin is trading up 1.85% over 24 hours and up by 4.85% in the last week, while Ethereum has added 3.9% to yesterday’s price and is up 11.85% over seven days. It’s a similar story for the rest of the industry. At just above $13, Solana has now added more than 21% to its value in the last week, while Chainlink is up 24% over the same period. 

The total capitalisation of the entire cryptocurrency industry sits at $837 billion today, while Bitcoin is again trading above the $16,500 resistance level. Will we see the original cryptocurrency make a move on $17,000 this week? 

NamePricePrice Change (24h)Price change (7 days)
Bitcoin (BTC)$16,509.98+1.88%+5.03%
Ethereum (ETH)$1,217.39+4.04%+12.22%
XRP (Ripple)$0.3918+3.33%+8.64%
Litecoin (LTC)$76.74+5.92%+23.81%
Bitcoin Cash (BCH)$111.94+3.71%+6.08%
Chainlink (LINK)$7.40+8.96%+24.51%
Uniswap (UNI)$5.50+4.42%+3.77%
Cardano(ADA)$0.3111+1.98%+0.36%
Solana(SOL)$13.66+1.53%+22.30%

Total crypto market cap

The total capitalisation of the entire cryptocurrency market at time of writing is currently $837.596 billion. 

 What Bitcoin did yesterday

We closed yesterday, 28 November 2022,  at a price of $16,217.32. The daily high yesterday was $16,482.93, and the daily low was $16,054.53.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $311.686 billion. To put it into context, the market cap of gold is $11.679 trillion and Tesla is $569.06 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $26.041 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 52.07%.

Fear and Greed Index

Market sentiment today is 26, in Fear.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 40.01. Its lowest ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 36.12. 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

“New regulatory initiatives are likely to emerge focusing on custody and protection of customers’ digital assets as in the traditional financial system.”

Nikolaos Panigirtzoglou, Global strategist, JP Morgan

What they said yesterday

Saylor says

Based on science

Where to in the next five?

_______________________________________________

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