Bitcoin price whipsaws on first day of BTC ETF trading

THE first day of trading of the first spot Bitcoin ETF in the US concluded yesterday with a total of $4.6 billion traded. 

The price of Bitcoin whipsawed, posting a high of around $48,900 before pulling back to $45,900, where it continues to trade this morning. 

The Ethereum rally has cooled since yesterday with the original smart contracts crypto also dipping into the red, down by around 1% over 24 hours, with next-gen cryptos following a similar pattern.

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In the Markets

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Days to BTC Halving

105

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Total crypto market cap

$1.76 trillion (+0.12%)

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What Bitcoin did yesterday

 Daily high $48,923 |  Daily low $45,651

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Bitcoin market capitalisation

$898.255 billion (-0.70%)

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Bitcoin volume

$43.619 billion (-16.39%)

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Ethereum staking entry queue

6 hours 15 minutes

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SP500

-0.06%

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Fear and Greed Index

73 (Greed) 

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Bitcoin’s market dominance

52.41

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Bitcoin Simple Moving Average (50) 

Value 33525.16 Buy  (TradingView)

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Relative Strength Index (RSI)

58.40

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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 advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.