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Bitcoin breaches $23,000 as line of resistance begins to weaken

Tuesday 24 January 2023 11:00 am

Bitcoin is up another per cent since yesterday, trading on an undulating line around $23,000 this morning, and 9% higher over seven days.

Ethereum is going for $1,635, having slowed down somewhat over 24 hours. It signals a diversion between Ethereum and Bitcoin, the latter outpacing the original smart contracts crypto in recent days.

The CoinDesk Market Index, a broad-based index measuring the movements of the entire crypto market, is up 1.24% over 24 hours.

Investor optimism about the future outlook of the economy seems to be the main driver behind the current rally, analysts say.

Yesterday’s Crypto AM Daily in association with Luno

In the markets

The Bitcoin economy

*Data can be found at

Total crypto market cap

The total capitalization of the entire cryptocurrency market this morning was $1,058 trillion.

What Bitcoin did yesterday

We closed yesterday – January 23 – at a price of $22,934. The daily high yesterday was $23,126and the daily low was $22,654.

Bitcoin market capitalization

Bitcoin’s market capitalization this morning was $441.96 billion. To put it into context, the market cap of gold is $12.804 trillion and Tesla is $453.92 billion.

bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $26.518 billion. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.


The price volatility of Bitcoin over the last 30 days is 36.77%.

Fear and Greed Index

Market sentiment today is 52in neutral.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 44.08. Its lowest ever recorded dominance was 37.09 on January 1 2018.

Relative Strength Index (RSI)

The daily RSI is currently 82.46. 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

“When you hand me a dollar, it can be fake. When you trade me gold, it can be fake. When you send Bitcoin to my wallet, it has to be real. If it’s not, it just won’t work and I’ll know immediately I didn’t get paid in legitimate currency. It’s a purely trustless system.

Romoloo, Author of Bitcoin Only newsletter

What they said yesterday

Crypto wallets at Best Buy…

In-game economies will never be the same…


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All feedback on Crypto AM Daily in association with Luno is welcome via email to 🙏🏻

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Crypto AM: Editor’s picks

Sam Bankman-Fried: A tissue of lies soaked with fake tears?

Three-in-four wealth managers are gearing up for more cryptocurrency exposure

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Q&A with Duncan Coutts, Principal Technical Architect at IO Global

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Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’

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MPs are falling silently over the potential of cryptocurrency

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Erica’s ‘Crypto Wars’ handed honors in Business Book Awards

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‘Let people invest’: Matt Hancock makes case for liberal crypto rules

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Explained: Why the Treasury is so sold on stablecoins

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Fears crypto is used to avoid sanctions ‘misplaced,’ says Matt Hancock

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The cryptocurrency fundraisers behind Ukraine’s military effort

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Crypto AM: Features

Crypto AM: Founders Series

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Crypto AM: Industry Voices

Changpeng 'CZ' Zhao, CEO of Binance

Crypto AM: Contributors

Crypto AM: In Conversation with James Bowater

Charles Hoskinson and James Bowater landscape

Crypto AM: Tomorrow’s Money with Gavin S Brown

Tomorrow's Money with Gavin S Brown

Crypto AM: Mixing in the Metaverse with Dr Chris Kacher

Dr Chris Kacher Mixing in the Metaverse

Crypto AM: Visions of the Future, Past & Present with Alex Lightman

Alex Lightman Visions of the future, past and present

Crypto AM: Tiptoe through the Crypto with Monty Munford

Monty Munford robbed out header

Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry

Jonny Fry Taking a Byte out of Digital Assets

Crypto on the catwalk

Stefania Barbaglio Crypto on the Catwalk

Crypto AM: Events

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. City AM, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.

All information is correct as of 08:00 BST

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