Bitcoin recovers market dominance during the bullish week, but will it last?

Switzerland is very open to doing business when it comes to blockchain, crypto and digital assets. One of the leading minds there are CV Labs in Crypto Valley Zug, run by my friend Ralf Glabischnig.

Next Monday, I’m really looking forward to attending his event, The Crypto Valley’s Top 50 Round Table, where the founders and executives of the 50 most influential companies in Crypto Valley come together to provoke meaningful discussion.

It will also provide a forum for me to finally share details on an exciting stealth project that I’m advising. Look out for next week’s spotlight!

Crypto at a glance

Bitcoin continues to look strong as alt markets stall as bullish news floods in from all directions. The leading cryptocurrency by market capitalization hit a high of $ 38,334.33 yesterday, despite falling to just over $ 37,000 this morning. Can it ride the wave for the weekend?

Yesterday’s optimistic news has been brought to you with the kind permission of the Basel Committee, the arbiter of international banking standards. They have now officially recognized Bitcoin as an asset class and proposed rules for banks to hold the cryptocurrency that puts them in the highest risk category. Bitcoin saw an immediate jump in price of $ 2,000 and rose five percent in less than two hours.

The Basel Committee’s recognition is an important milestone for Bitcoin in the world of traditional finance. But that wasn’t the only foray into Bitcoin’s traditional financial world yesterday as two big players announced their move into the room.

Victory Capital, which manages nearly $ 160 billion in assets, announced it will launch a private fund for accredited investors that will track the Nasdaq Crypto Index (NCI). State Street, the second oldest bank in the US, also announced plans to launch a “multi-asset platform” that will support cryptocurrency trading, citing rapidly increasing customer demand.

It beats a bullish week of news for Bitcoin, which bounced back well from Tuesday’s $ 31,000. Weekends haven’t been kind to the crypto markets lately, but will that be different?

Bitcoin seems a bit on its own right now, with stagnation in the rankings allowing the market leader to regain some of the dominance it recently lost. It currently makes up nearly 45 percent of the market again, with Ethereum changing hands for under $ 2,500 at the time of writing – a four percent drop in the past 24 hours. Cardano (ADA), Binance Coin (BNB) and Dogecoin (DOGE) are all down around four percent at the time of writing. Can you follow Bitcoin’s example again?

For those of you who missed the Crypto AM DeFi & Digital Inclusion online summit – you can now watch the event in two parts on YouTube …

Part One:

Second part:

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In the markets

The bitcoin economy

* For definitions and insights, see

Total crypto market capitalization

The total capitalization of the entire cryptocurrency market at the time of writing is currently $ 1,572,300,540,517.

What Bitcoin did yesterday

We got yesterday, June 10th 2021, for the price of. closed $ 36,702.60, down from $ 37,345.12 the previous day.

The daily high was $ 38,334.33 yesterday and the daily low was $ 35,847.59.

Around this time last year, Bitcoin closed the day at $ 9,321.78. In 2019, it closed at $ 7,927.71.

Bitcoin market capitalization

Bitcoin’s market capitalization at the time of writing is $ 688.45 billion. To put it in context, gold’s market cap is $ 12.101 trillion and Facebook is $ 942.67 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges in the last 24 hours was $ 43,224,623,214, from $ 50,778,692,679 yesterday. High volumes may indicate that significant price movement has stronger support and is more likely to last.


Bitcoin’s price volatility over the past 30 days is 96.79%.

Fear and greed index

Market sentiment is today 21.

Bitcoin’s market dominance

Bitcoin’s market dominance is today 44.52, The lowest dominance ever recorded was 37.09 on January 8, 2018.

Relative Strength Index (RSI)

The daily RSI is currently 43.54. Values ​​of 70 or above indicate that an asset is overbought and may be prepared for a trend reversal or price correction – an RSI of 30 or below indicates an oversold or undervalued condition.

Convince your Nan: Soundbite of the day

“Bitcoin is a technical solution to give 8,000,000,000 people property rights … if their relatives send money back to El Salvador, they lose 10% through money transfer agents.”

– Part-time CEO of MicroStrategy + full-time Bitcoin bull, Michael Saylor

What they said yesterday

Bitcoin is hope …

In a country where 70% of the population is excluded from the financial system, #Bitcoin is hope. The Republic of El Salvador shows the way to a better world.

– Michael Saylor (@michael_saylor) June 10, 2021

It’s fun whether you like Bitcoin or not …

There is bullish and there is …

Bitcoin is a bargain at any price below $ 10 million.

– Spencer Schiff (@SpencerKSchiff) June 10, 2021

Big upgrade is coming …

Taproot will be locked for a November activation for the next 36 hours.

A great success for #Bitcoin, Taproot introduces a second signature algo (Schnorr) and significant data protection functions.

Also a great success for the “Speedy Trial” activation method with <8 weeks lock-in.

– Andreas (BEWARE of giveaway fraud!) (@Aantonop) June 10, 2021

Crypto AM editor writes

Ripple is making waves against the SEC’s confusing crypto rules

Ripple XRP coin in front of the laptop screen

John McAfee threatens to die in jail for doing what Elon Musk does on Twitter, his wife says

The anti-virus software magnate John McAfee returns to the USA after fleeing Belize to GuatemalaPhoto by Joe Raedle / Getty Images

Bitcoin is in for more pain as environmental groups line up to reject cryptocurrencies

How are cryptocurrencies doing this weekend?

Squashed Bitcoin is heading for an unsafe weekend

China’s CMB International and Nervos Foundation are launching a $ 50 million blockchain fund

Cardano partners with Save the Children on a humanitarian initiative

HMRC: We don’t restrict crypto

Ethiopia is revising its education system with IOHK blockchain partnership

Crypto AM: Longer reads

City AM Markets: What is Aave’s Decentralized Financing (DeFi)

Crypto AM: Conversation with James Bowater

Crypto AM: Market View

Crypto AM: Technically

Crypto AM: A Trader’s View with TMG

Crypto AM: Mixing in the Metaverse with Dr. Chris Kacher

Crypto AM: speak legally

Krypto AM: Spotlight

Crypto AM: Founder Series

Crypto AM: Industry voices

Crypto AM: Tiptoe through the Crypto with Monty Munford

Crypto AM: Definitely DeFi

Crypto AM parliamentary special offer

Part one of two – April 2021

Part two of two – April 2021

Five-part series – March 2021

Part One…

Second part…

Part three…

Part four …

Part five …

Crypto AM: Recommended Events

Round table Crypto AM City of London

Crypto AM DeFi & Digital Inclusion Summit


Crypto AM Awards 2021

September 29th and 30th, 2021

Warning notices

It is certainly tempting to get carried away with the excitement, but please heed this warning: 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. Remember, however, that the content of this article is for informational purposes only and does not constitute investment advice or any form of recommendation or invitation. City AM, Crypto AM, and Luno always advise you to seek your own independent financial advice before investing or trading in cryptocurrency.

All information is correct as of 08:30 GMT.

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