Crypto at a glance
Has the last curse on Monday been broken? The past two weeks have started with big slumps for Bitcoin, but things seem to be stable and even pushing upward for the time being.
The expiration of $ 6 billion worth of futures contracts on Friday has been speculated by some as a moment of pause, and it will be encouraging that Bitcoin’s price rose from lows of $ 51,000 on Thursday to well over $ 57,000. Dollar rises – all the more so that it continues to hold this level.
A weekend of sideways price moves around this level has now prepared us for another fascinating week as we kick off April. Can bulls keep Bitcoin on an uptrend?
READ MORE: Bitcoin Consolidates Over $ 55,000 As Crypto Has A Huge Month
The last month has been tough for Bitcoin, despite the price soaring to an all-time high of more than $ 61,000.
The price hike, which has risen nearly 500% since the last bull run began in October, has slowed somewhat compared to January and early February. The resilience above $ 50,000, however, is evident in the face of a surge in FUD from politicians and mainstream media, as well as the threat of rising government bond yields, falling technology stocks, and a surge in the US dollar.
Historical bitcoin price data shows that March has traditionally been a bad month for bitcoin. However, losses are often followed by a rally in April. Analysis of price data over the past decade showed an average profit of 51% for Bitcoin. Will this also be the case this year?
It’s similar elsewhere as Ethereum and other smaller caps continue to follow in Bitcoin’s footsteps.
Ethereum, Cardano, Polkadot, Ripple, and Uniswap all made gains over the weekend, despite moving less than one percent either way in the past 24 hours. Meanwhile, Theta (THETA) continues to grow strongly and cement its place in the top 10 as a key player.
Conversely, Bitcoin Cash continues to consolidate its position outside of the top 10, falling to 14 by market cap despite recent price gains.
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In the markets
The bitcoin economy
* *For definitions and findings, see https://bytetree.com/insights/
Total market capitalization for crypto
The total capitalization of the entire cryptocurrency market at the time of writing is $ 1,771,463,941,546.
What Bitcoin did yesterday
We are closed yesterday, March 28th, 2021 at a price of $ 55,950.75 – down from $ 55,973.51 the day before. It’s now been 19 days in a row that the price has closed above $ 50,000.
Yesterday’s high for the day was $ 56,610.31 and the low for the day was $ 55,071.11.
Around this time last year, Bitcoin closed the day at $ 6,242.19. In 2019, it closed at $ 4,069.11.
Bitcoin market capitalization
Bitcoin’s market capitalization is $ 1,044.44 billion at the time of writing. In this context, the market capitalization of gold is $ 10.959 trillion and Alphabet (Google) is $ 1.368 trillion.
The total spot trading volume reported by all exchanges in the last 24 hours was $ 47,737,385,419according to CoinMarketCap. High volumes can indicate that a significant price move has stronger support and is more likely to last.
Bitcoin’s price volatility over the past 30 days is 59.9%.
Fear and greed index
The market sentiment is at neutral 72.
Bitcoin’s dominance of the market
Bitcoin’s market dominance is today 60.72. The lowest dominance ever recorded was 9/37 on January 8, 2018.
Relative Strength Index (RSI)
The daily RSI is current 54.53. Values of 70 or higher indicate that an asset is being overbought and may be prepared for a trend reversal or price correction. An RSI of 30 or less indicates an oversold or undervalued condition.
Convince your Nan: Soundbite of the day
“If we add up the total potential demand in relation to the limited supply, we get incredible numbers in the long run. We have only just started. A trillion dollars is nothing compared to where this will ultimately be. “
– Cathie Wood, founder and CEO of Ark Invest
What they said yesterday
NFT mania is at its peak?
It’s probably not the time to talk about ships moving fast …
The US government will never ban #bitcoin. These questions have been asked and answered by regulators and courts over the past ten years. This ship sailed.
– Tyler Winklevoss (@tyler) March 27, 2021
Good money is important …
The apple falls far from the tree of the Schiff family …
Long-term #bitcoin holders should always imagine that unnecessary purchases are at least 10 times their real prices. This setting is helpful in reducing excessive spending and stacking more sats.
– Spencer Schiff (@SpencerKSchiff) March 28, 2021
Crypto AM Editor writes
General Motors could be the next major automaker to accept Bitcoin
Binance announces two more important dates
Elon Musk: You can now buy a Tesla with Bitcoin
Sophia the robot to become the next NFT sensation
Bitcoin falters as $ 60,000 feels like a distant memory
Crypto AM: Longer reads
City AM Markets: What is Aave’s Decentralized Finance (DeFi)?
Crypto AM: Conversation with James Bowater
Crypto AM: Market View in collaboration with Ziglu
Crypto AM: Technically, in collaboration with Zumo
Crypto AM: A Trader’s View with TMG
Crypto AM: Mixing in the Metaverse with Dr. Chris Kacher
Crypto AM: speak legally
Crypto AM: headlights
Crypto AM: Founders Series
Crypto AM: Industry voices
Crypto AM: Walk the Crypto on tiptoe with Monty Munford
Crypto AM: Definitely DeFi
Crypto AM Parliamentary Special Five Part Series
Crypto AM: Recommended Events
Global investment in sustainable development
March 31 to April 1, 2021 – Dubai
Global Technology Governance Summit
April 6-7, 2021 – Tokyo
It’s definitely tempting to get swept up in the excitement, but please keep these careful words in mind: do your own research, invest only what you can afford, and make good decisions. Hopefully the indicators included in this article will help with that. Please note, however, that the content of this article is for informational purposes only and is not intended to be investment advice or any form of recommendation or invitation. City AM, Crypto AM, and Luno always recommend that you seek your own independent financial advice before investing or trading in cryptocurrency.
All information is correct as of 08:30 GMT.