Bitcoin and other cryptocurrencies rally as Solana notches double digit gains
Bitcoin is up by more than 3% over 24 hours and is trading above $28.3k, while Ethereum (ETH) and most other cryptocurrencies tag along. The original smart contracts crypto is trading around $1.7k, in the green by more than 2%.
Other noteworthy crypto movements include Polygon (MATIC), which has rallied more than 4%, and Solana (SOL), which is up a remarkable 14% in the last day. On the back of this rally, the market cap of the entire crypto industry is up by 3.2%.
The sudden surge has confounded analysts, many not being able to pinpoint one catalyst other than October having been a strong month for crypto markets in the past.
Friday’s Crypto AM Daily
In the Markets
The Bitcoin Economy
*Data can be found at https://terminal.bytetree.com/
🌅Total crypto market cap
🔵 $1.12 trillion
🔺 3.8%
What Bitcoin did yesterday
🔺 Daily high $28,038
🔻 Daily low $26,955
Bitcoin market capitalisation
🟠 BTC $551.88 billion
🟡 Gold $12.243 trillion
💳 Visa $478.37 billion
Bitcoin volume
🪣 Total spot trading volume $13.56 billion
🔺 138%
SP500
🔻 0.27%
FTSE/JSE Top 40
🔻 0.13%
Fear and Greed Index
Bitcoin’s market dominance
📊 50.39
Relative Strength Index (RSI)
💪 73
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.
📣 What they said yesterday
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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. CityAM, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.