Wednesday May 24, 2023 11:07 am
The market-leading cryptocurrency failed to hold the support it found above $27k earlier in the week, falling 2% over the past 24 hours and starting below this key level again today.
Ethereum (ETH) and the rest of the cryptocurrencies are trading in a similar pattern, with some like Avalanche being more in the red than others.
The narrative remains the same. Uncertainty surrounding the US debt ceiling talks and regulatory pressure in the country are keeping investors modest, reflected in low trading volumes.
Yesterday's Crypto AM Daily
in the markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
Total crypto market capitalization
The total capitalization of the entire cryptocurrency market this morning was $1.120 billion.
What Bitcoin did yesterday
We closed yesterday, May 23, at a price of $27,225. Yesterday's daily high was $27,434, and the daily minimum was $26,816.
Bitcoin Market Cap
The Bitcoin market cap this morning was $517.717 billion. To put it in context, the market capitalization of gold is $13,024 trillions and Visa is $470.36 billion.
bitcoin volume
Total spot trading volume reported by all exchanges over the last 24 hours was $12.345 billion.
Fear and Greed Index
Market sentiment today is fiftyin Neutral.
Bitcoin market dominance
Bitcoin market dominance today is 47.85. Its lowest domain ever registered was 37.09 on January 1, 2018.
Relative Strength Index (RSI)
The daily RSI is currently 47.8. Values โโof 70 or higher indicate that an asset is being overbought and may be poised for a trend reversal or price correction; an RSI reading of 30 or below indicates an oversold or undervalued condition.
what they said yesterday
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precautionary notes
It's definitely tempting to get carried away with the excitement, but heed these words of caution: do your own research, only invest what you can afford, and make good decisions. It is hoped that the indicators contained in this article will help in this. Please remember, however, that the content of this article is for informational 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 in or trading cryptocurrencies.
