Crypto markets end in June on a high note

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Crypto at a glance

It’s been a month upside down in the crypto markets, but a late surge saw Bitcoin looking to end June roughly where it started. Volatility? What volatility?

It’s been a solid week so far, with most cryptocurrencies climbing higher since Monday. Positive price action for Bitcoin took us all the way to $ 36,500 yesterday, an impressive turnaround considering we were down to $ 30,000 just a few days ago. Bitcoin has since fallen back to $ 35,000, but it has still risen more than 15% since Saturday’s lows. Is this just another unsuccessful attempt to break out of the $ 30,000 to $ 40,000 range we’ve spent most of the past two months?

We are currently seeing strong performance among other cryptocurrencies as well. Bitcoin dominated the month of June, but this week Ethereum leads. The second largest cryptocurrency has now rebounded 25% from weekend lows, currently changing hands for around $ 2,150. That’s still a significant drop from where it started the month, when it was $ 2,700. There was talk of $ 10,000 earlier in the year, was it just pie in the sky or is there really a chance it could happen?

Elsewhere, Cardano (ADA) and Binance Coin (BNB) also ended the month strong, although still down somewhat over the past 30 days. There is nothing to hide from the fact that June has been a brutal month in alternative markets, but can they build on the bullish momentum of July?

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In the markets The Bitcoin economy

* Definitions and information can be found at https://bytetree.com/insights/

Total crypto market capitalization

The total capitalization of the entire cryptocurrency market at the time of writing is currently $ 1,417,265,686,455, up from $ 1,409,118,720,330 yesterday.

What Bitcoin Did Yesterday

We closed yesterday, June 29, 2021, at a price of $ 35,867.78, down from $ 34,434.34 the day before.

Yesterday’s daily high was $ 36,542.11 and the daily low was $ 34,252.48.

Around the same time last year, the price of Bitcoin closed the day at $ 9,137.99. In 2019, it closed at $ 10,817.16.

Bitcoin market capitalization

The Bitcoin market cap at the time of writing is $ 656.01 billion, up from $ 648.75 billion yesterday. To put it in context, the market cap of gold is $ 11.168 billion and Facebook is $ 997.77 billion.

Bitcoin volume

The total spot trading volume reported by all exchanges in the past 24 hours was $ 38,046,037,653, up from $ 34,724,436,285 yesterday. High volumes can indicate that a significant price movement has stronger support and is more likely to be supported.

Volatility

Bitcoin’s price volatility over the past 30 days is 80.54%.

Index of fear and greed

Market sentiment today is 28.

Dominance of the Bitcoin market

Bitcoin’s market dominance today stands at 46.64, its lowest dominance on record was 37.09 on January 8, 2018.

Relative Strength Index (RSI)

The daily RSI is currently 48.22. Values ​​of 70 or more indicate that an asset is becoming overbought and may be ready for a trend reversal or price correction. An RSI reading of 30 or less indicates an oversold or undervalued condition.

Convince Your Nan: Soundbite of the Day

There is a contingent of clients looking to this asset as a hedge against inflation, and the macroeconomic backdrop of the past year has certainly played a role in that. There are also a large number of customers who feel like they are on the cusp of a new internet in some ways and are looking for ways to participate in that space.

– Mary Rich, Global Head of Digital Assets for Goldman’s Private Wealth Management Division

What they said yesterday

Change is coming …

The great Kevin Pietersen …

#Bitcoin RULES: – Hold for at least 4 years – Best strategy of the decade – Ignore all price fluctuations – Keep stacking

– Kevin Pietersen (@ KP24) June 29, 2021

Fix the money, fix the world?

Crypto AM Editor’s Choice

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Ripple overtakes Bitcoin among UK crypto investors

Cardano bridges gap with China by partnering with Nervos Blockchain

Crypto AM: longer reads

City AM Markets: What is Decentralized Finance (DeFi) by Aave

Crypto AM: Conversation with James Bowater Crypto AM: Market View in association with Ziglu Crypto AM: Technically speaking Crypto AM: A Traders View with TMG Crypto AM: Mixing in the Metaverse with Dr Chris Kacher Crypto AM: Visions of the Future, Past & Present with Alex Lightman Crypto AM: Talking Legal Crypto AM: Spotlight Crypto AM: Founders Series Crypto AM: Industry Voices Crypto AM: Tiptoe Through Crypto with Monty Munford Crypto AM: Definitely DeFi Crypto AM Parliamentary Special

First part of two – April 2021

Part two of two – April 2021

Five-part series – March 2021

Part one …

Second part…

Part three …

Fourth part…

Fifth part …

Cautionary Notes on Crypto AM Events

It is certainly tempting to get carried away by the excitement, but please heed these warning words: do your own research, invest only what you can afford, and make good decisions. The indicators in this article will hopefully help you. Please keep in mind, 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 get your own independent financial advice before investing or trading in cryptocurrency.

All information is correct at 08:30 GMT.

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