Crypto markets digest new ATHs and a Trump presidency
CRYPTOCURRENCY markets are mostly in the red this morning following yesterday’s buzz surrounding Donald Trump’s presidential inauguration, where, surprising to many crypto investors, the new US President made no direct mention of cryptocurrency in his speech.
Bitcoin is currently trading around $102,950, down more than 5% overnight. Others like Dogecoin (DOGE), Solana (SOL) and Avalanche (AVAX) have experienced steeper pullbacks, with losses closer to 10%.
Trading volumes for Bitcoin remain elevated, exceeding $100 billion globally for two consecutive days, indicative of heightened market interest.
Despite recent highs for BTC and SOL, sentiment gauges like the Fear and Greed Index remain 'Neutral', and the Relative Strength Index is skewed towards an oversold position.
Investors will be watching closely for any crypto-related announcements from the Trump administration in the coming days to see if the markets regain momentum.
In the Markets
Total crypto market cap
$3.5 trillion (-6.18%)
What Bitcoin did yesterday
Daily high $108,786 | Daily low $100,142
Bitcoin market capitalisation
$2.02 trillion (+5.79%)
Bitcoin 24-hour trading volume
$111.15 billion (+3.46%)
SP500
1%
Fear and Greed Index
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)
44
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.