Daily briefing: Global financial markets up as China eases lockdowns

by Team Luno
· 5 minute read

It’s been a more promising start to the week for Bitcoin and other major cryptocurrencies, which have seen small gains across the board. Bitcoin is currently changing hands for around $30,600, up 2.75% over the past 24 hours. The Ethereum price has also risen almost 3% to around $2,080. Despite the rise, the Crypto Fear & Greed Index that measures customer sentiment fell to a low of 8 on May 17, its lowest value since 28 March 28, 2020.

Again, performance seems to be tightly aligned to equity markets, which dropped slightly on Monday but has picked up this morning. The FTSE 100 share index is up 0.66%, which Bloomberg has attributed to China easing its Covid lockdowns. Can an upturn in global markets help boost crypto back to recent levels?

Name PricePrice Change (24h)Price change (7 days)
Bitcoin (BTC)$30,608.97+2.75%-3.61%
Ethereum (ETH)$2,086+2.89%-12.52%
XRP (Ripple)$0.4305+2.36%-17.36%
Litecoin (LTC)$70.57+5.58%-14.23%
Bitcoin Cash (BCH)$205.07+1.77%-14.29%
Chainlink (LINK)$7.78+5.48%-12.93%
Uniswap (UNI)$5.29+3.75%-19.10%

Total crypto market cap

The total capitalisation of the entire cryptocurrency market at time of writing is currently $1.306 trillion.

What Bitcoin did yesterday

We closed yesterday, May 16 2022, at a price of $29,862.92. The daily high yesterday was $31,305.34 and the daily low was $29,251.89.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $580.79 billion. To put it into context, the market cap of gold is $11.588 trillion and Tesla is $750.45 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $30.935 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 55.3%.

Fear and Greed Index

Market sentiment today is 8, in Extreme Fear.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 44.77. Its lowest ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 35.49. 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

“Only keep money in fiat that you are willing to lose. Anything not in crypto will vanish.”

Max Keiser, American Broadcaster

What they said yesterday

How times have changed

A world changing moment

What will Bitcoin do next?

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16/05/22

After a turbulent week in the crypto markets, investors can be forgiven for hoping that this week is at least a little quieter. It’s certainly off to a steady start, with most major cryptocurrencies relatively stable over the weekend. Despite the slight uptick, Bitcoin still ended last week in the red, recording its first 7-week losing streak in history. Will this week be the turning point? 

The price of bitcoin has now recovered to around $30k after the leading cryptocurrency hit lows of around $26k on Thursday. It’s currently changing hands for around $29,700, flat over the past 24 hours but down 12% over the past seven days. The Ethereum price is also flat since this time yesterday morning, holding at around $2k.  

The big event to look out for this week is the World Economic Forum, with the 2022 event kicking off on 22 May. Will there be any major revelations or announcements to shake the markets into life?

Name PricePrice Change (24h)Price change (7 days)
Bitcoin (BTC)$29,622.99-0.02%-11.88%
Ethereum (ETH)$2,011.37-0.69%-18.16%
XRP (Ripple)$0.4173-0.61%-23.74%
Litecoin (LTC)$66.31-2.24%-27.34%
Bitcoin Cash (BCH)$199.73-4.06%-21.62%
Chainlink (LINK)$7.25+1.19%-25.24%
Uniswap (UNI)$4.99-3.02%-28.84%

Total crypto market cap

The total capitalisation of the entire cryptocurrency market at time of writing is currently $1.274 trillion.

What Bitcoin did yesterday

We closed yesterday, May 15 2022, at a price of $31,305.11. The daily high yesterday was $31,308.19 and the daily low was $29,527.74.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $565.71 billion. To put it into context, the market cap of gold is $11.408 trillion and Tesla is $797.3 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $30.427 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 56.48%.

Fear and Greed Index

Market sentiment today is 14, in Extreme Fear.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 44.57. Its lowest ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 34.53. 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

“A market where a few people decide the fate of everyone else by giving instruction to when and how much money is manipulated…..isn’t a market – It is a control structure.”

Jeff Booth, Author

What they said yesterday

El Salvador leading the way

Has dollars, will buy Bitcoin

Regions to watch

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13/05/22

Name PricePrice Change (24h)Price change (7 days)
Bitcoin (BTC)$30,229.28+9.41%-16.89%
Ethereum (ETH)$2,063.08+9.93%-24.48%
XRP (Ripple)$0.4374+18.32%-27.85%
Litecoin (LTC)$68.49+14.26%-29.56%
Bitcoin Cash (BCH)$209.06+20.53%-23.87%
Chainlink (LINK)$7.18+18.15%-33.96%
Uniswap (UNI)$5.15+19.36%-29.41%

Total crypto market cap

The total capitalisation of the entire cryptocurrency market at time of writing is currently $1.289 trillion.

What Bitcoin did yesterday

We closed yesterday, May 12 2022, at a price of $29,047.75. The daily high yesterday was $30,032.44 and the daily low was $26,350.49.

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $576.72 billion. To put it into context, the market cap of gold is $11.593 trillion and Tesla is $754.21 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $56.149 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 48.66%.

Fear and Greed Index

Market sentiment today is 10, in Extreme Fear.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 44.62. Its lowest ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 33.02. 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 is deliberately amoral, it has no requirements to entry and asks nothing of the user aside from a valid signature.”

Nic Carter, Partner at Castle Island Ventures

What they said yesterday

Welcome to the team Bill

Ex-Facebook crypto chief launches Bitcoin Lightning payments startup Lightspark

You heard the man

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