Bitcoin price levels off as spot ETF trading resumes

THE price of Bitcoin has stabilised overnight after what’s been a busy week - even by crypto standards!

The market leader is trading for around $42,700, flat over 24 hours.

Ethereum is following a similar pattern, trading for around $2,500, up by 0.5%. As is often the case, the younger generation of cryptos – Solana, Chainlink, Uniswap et al – are showing more pronounced price swings. 

Solana is up by 2.4% today as many other large-caps are trading in the negative.

Trading of Bitcoin ETFs in the US resumes today after yesterday’s federal holiday in the US. Investors will be watching closely. 

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In the Markets

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Days to BTC Halving

93

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Total crypto market cap

$1.68 trillion (-0.60%)

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What Bitcoin did yesterday

 Daily high $43,348 |  Daily low $41,719

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Bitcoin market capitalisation

$837.75 billion (+0.3%)

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Bitcoin volume

$20.723 billion (+4.3%)

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Ethereum staking entry queue

6 hours 56 minutes

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SP500

+0.075%

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Fear and Greed Index

61 (Neutral) 

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Bitcoin’s market dominance

51.2

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Bitcoin Simple Moving Average (50) 

33769.97

Sell (TradingView)

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Relative Strength Index (RSI)

47.39

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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.

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Post Script…

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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. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.