Daily market update: Delivery giant to accept bitcoin

Tuesday snoozeday, am I right? No, not in crypto. It’s never snoozeday in crypto. Here’s your daily waterfall of bitcoin market movements. Stand under it and gently caress your hair as you work out your next big moves.

If you’re new to the world of crypto trading, don’t forget to take a look through our beginner’s guide to crypto trading series, starring in-depth explorations of common strategiesmarket analysis techniques, and more. It will help you use the data in this update to make your crypto trading decisions.

The content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

All information is correct as of 9.00am BST

Bitcoin price

We closed yesterday, 7 September, 2020, at a price of $10,369.56 – with a daily high of $10,399.15 and a low of $9,916.49.

That’s up from $10,280.35 the day before. It’s the lowest low since 27 July. On the same day last year, one bitcoin would have cost you $10,353.30.

We’re 48.83% below bitcoin‘s all-time high of $20,089 (17 December 2017).

Bitcoin volume

The volume traded yesterday was $33,703,098,409 – down from $37,071,460,174 the day before.

Market capitalisation

Bitcoin’s market capitalisation as of yesterday was $191,657,203,885, up from $189,997,214,393 the day before. To put that into context, PepsiCo has a market cap of $192 billion. Bottom’s up!

Fear and Greed Index

We’re still in the Fear zone at 41, where we’ve been for the last four days.

Extreme fear can be a sign that investors are too worried, which could be a buying opportunity. When Investors are getting too greedy, that means the market may be due for a correction.

Global In/Out of the money

For any address with a balance of tokens, ITB identifies the average price (cost) at which those tokens were purchased and compares it with the current price. If the current price is higher than average cost, address is ‘In the Money’. If the current price is lower than the average cost, the address is ‘Out of the Money’.

Chart provided by IntoTheBlock.com


Annualised price volatility using 365 days.

Chart provided by IntoTheBlock.com

Bitcoin’s market dominance

Bitcoin’s market dominance stands at 60.58. Its lowest recorded dominance was 37.09 on 8 January, 2018.

Relative Strength Index (RSI)

The daily RSI is currently 37.93. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience correction in price – an RSI reading of 30 or below indicates an oversold or undervalued condition.

Resistance and support

What they said yesterday…

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