Wednesday 11 January 2023 11:08 am
Analysts say the bump in market optimism may be due to investor expectations of slightly lower Consumer Price Index numbers to be released tomorrow.
Bitcoin is trading up by 1% over 24 hours at $17,440 this morning. Ethereum is changing hands for $1,335, up a more modest 0.49%. This means that Bitcoin has risen by 3.38% over seven days, while Ethereum is in the positive by 6.59%.
Cryptocurrencies and equities seem to be trading closely again as the SP500 and the Dow Jones both opened in the green this morning.
Yesterday’s Crypto AM Daily in association with Luno
In the markets
The Bitcoin economy
*Data can be found at https://terminal.bytetree.com/
Total crypto market cap
The total capitalization of the entire cryptocurrency market at the time of writing is currently $851.640 billion.
What Bitcoin did yesterday
We closed yesterday, January 9, at a price of $17,196. The daily high yesterday was $17,389, and the daily low was $17,093.
Bitcoin market capitalization
Bitcoin’s market capitalization at time of writing is $332.49 billion. To put it into context, the market cap of gold is $12.4 trillion and Tesla is $378.2 billion.
The total spot trading volume reported by all exchanges over the last 24 hours was $16.336 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 23.27%.
Fear and Greed Index
Market sentiment today is 26, in Fear.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 41.03. Its lowest ever recorded dominance was 37.09 on January 1 2018.
Relative Strength Index (RSI)
The daily RSI is currently 57.76. 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
“We see Bitcoin as the internet’s potential to have a native currency.” Jack Dorsey, CEO of Square
What they said yesterday
?NEW VIDEO!Could #Bitcoin mining revolutionize the $165B district heating market – and eliminate MILLIONS of tonnes of CO2 in the process?? See how one Bitcoiner is building “digital” boilers that replace heating systems in a whiskey distillery, an apartment building + more! pic.twitter.com/iDqnRcyai4— Julian Figueroa (@kinetic_finance) January 9, 2023
When infinite liquidity meets absolute scarcity…
The future is bright…
Would you like to help spread the adoption and education of Bitcoin in the UK and even stack some Sats while you’re doing it? Well, now you can! The Bitcoin Pioneers community, backed by Barry Silbert’s Digital Currency Group, was created to introduce Bitcoin to a mainstream audience in a meaningful way and now has members right across the UK. We share tips, stories and ideas on how to encourage others to try Bitcoin for the first time. And, thanks to support from Luno, each Pioneer gets £500 of Bitcoin a month to share with beginners, helping them get started. So, if you’re passionate about Bitcoin, why not join today? Click here to find out more! All feedback on Crypto AM Daily in association with Luno is welcome via email to James.Bowater@cityam.com ?? 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 Crypto.com granted FCA license to operate in UK Q&A with Duncan Coutts, Principal Technical Architect at IO Global Jamie Bartlett – on the trail of the missing ‘Cryptoqueen’ MPs are falling silent over potential of cryptocurrency Erica’s ‘Crypto Wars’ handed honors in Business Book Awards ‘Let people invest’: Matt Hancock makes case for liberal crypto rules Explained: Why the Treasury is so sold on stablecoins Fears crypto is used to avoid sanctions ‘misplaced, ‘ says Matt Hancock The cryptocurrency fundraisers behind Ukraine’s military effort Crypto AM: Features Crypto AM: Founders Series https://www.cityam.com/profile/crypto-am-founders-series/ Crypto AM: Industry Voices Crypto AM: Contributors Crypto AM: In Conversation with James Bowater Crypto AM: Tomorrow’s Money with Gavin S Brown Crypto AM: Mixing in the Metaverse with Dr Chris Kacher Crypto AM: Visions of the Future, Past & Present with Alex Lightman Crypto AM: Tiptoe through the Crypto with Monty Munford Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry Crypto on the catwalk Crypto AM: Events For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit 2021 – you can now watch the event in two parts via YouTube Part One https://www.youtube.com/watch?v=dvqNMNZTIDE Part Two https://www.youtube.com/watch?v=WXhX_-Tr5j0 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
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