Monday blues for Bitcoin as crypto markets struggle for support levels
Monday 13 February 2023 at 11 a.m
Bitcoin is in the red this morning, after trading mostly flat around the $21,800 level over the weekend.
The leading crypto by market cap is currently trading below $21,600 while Ethereum is down 3% since yesterday.
The fear and greed index has remained neutral since Friday – a further indication of market uncertainty.
Although the remarkable rally that started at the beginning of the year appears to have stalled, the crypto’s entire market capitalization continues to stay above the key $1 trillion level. Will the crypto market support this level in the coming week?
Friday’s Crypto AM Daily in collaboration with Luno
In the markets
The Bitcoin Economy
*Data can be found at
Total market cap of crypto
The total capitalization of the entire cryptocurrency market this morning was 1.014 billion dollars.
What Bitcoin Did Yesterday
We closed yesterday, February 12, at a price of $21,788. The daily high yesterday was $22,060, and the daily low was $21,682.
Bitcoin market value
Bitcoin’s market value this morning was $421,659 billions. To put that into context, the market cap for gold is $12.369 trillion and Tesla is $622.97 billion.
Bitcoin volume
The total spot trading volume reported by all exchanges in the last 24 hours was 19.647 billion dollars. High volumes can indicate that a significant price move has stronger support and is more likely to be sustained.
Volatility
The price volatility of Bitcoin in the last 30 days is 32.43%.
Fear and Greed Index
The market sentiment today is 48in neutral.
Bitcoin’s market dominance
Bitcoin’s market dominance today is 43.57. Its lowest recorded dominance was 37.09 on January 1, 2018.
Relative Strength Index (RSI)
Daily RSI is currently 50.33. Values of 70 or higher indicate that an asset is overbought and may be poised for a trend reversal or experience a correction in price – an RSI reading of 30 or lower indicates an oversold or undervalued condition.
Convince your family: Today’s soundbite
“The design supports a huge variety of possible transaction types that I designed years ago. Escrow transactions, tied contracts, third-party arbitration, multi-party signature, etc. If Bitcoin takes off in a big way, these are things we will explore in the future.”
Satoshi Nakomoto, Bitcoin creator
What they said yesterday
Adam Back knows a thing or two about Bitcoin…
Decisions, decisions…
One of the OGs explaining BTC a decade ago…
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Warning notices
It’s definitely tempting to get carried away by the excitement, but please heed these words of caution: Do your own research, invest only what you can afford, and make good decisions. The indicators in this article will hopefully help in this. However, remember that the content of this article is for informational purposes only and is not investment advice or any form of recommendation or invitation. City AM, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.
