Altcoins shed yesterday's gains as Bitcoin hovers just above key level

CRYPTOCURRENCY markets have pulled back again after yesterday's spike, with many assets shedding recent gains.

The top of the market cap board appears to be in consolidation mode, with Bitcoin hovering around the $100,000 mark and Ethereum (ETH) moving sideways overnight.

While most assets faced declines, Optimism (OP) and Maker (MKR) are among the few to post overnight gains.

Sentiment has cooled slightly, with the Fear and Greed Index slipping back into 'Greed' from 'Extreme Greed'.

As the year winds down, investors are eyeing the next potential catalyst for a significant market move. 

In the Markets

‍

Total crypto market cap

$3.59 trillion (-1.05%)

‍

What Bitcoin did yesterday

Daily high $102,528  |  Daily low $99,261

‍

Bitcoin market capitalisation

$1.98 trillion (-0.28%)

‍

Bitcoin 24-hour trading volume

$68.9 billion (-15.9%)

‍

SP500

-0.54%

‍

Fear and Greed Index

Greed

‍Source: Coinmarketcap

The Fear and Greed Index measures volatility, market momentum/ volume, social media, surveys, dominance, and Google search trends to gauge market sentiment.

‍

Bitcoin Relative Strength Index (RSI) (14)

49 

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, while 30 or below indicates an oversold or undervalued condition.

‍

Post Script…

‍

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. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

‍