Market update

Market-update

Bitcoin increased 37.9% over the past month and is trading at levels last seen three months ago. It’s up 17% for the week to A$63,100 (US$46K) and crossed the 200-day moving average on Monday – a bullish sign. 

Market-update

After bottoming out just above A$40K (US$29K) on July 21, Bitcoin rose for ten days in a row, its longest winning streak in eight years. It peaked above A$57,000 (US$42K) yesterday but the price pulled back overnight to around A$53,500 (US$39K). It’s up 5% for the week. Ethereum posted 12 straight days of green for the first time ever and is currently up 17.2% for the week to trade just under A$3600 (US$2.6K). Dogecoin was flat but everything else was up: Cardano (3.9%), Ripple (18.6%), Polkadot (29.9%), Uniswap (20%), Chainlink (30.3%), Bitcoin Cash (13.1%), Litecoin (7.6%), Stellar (5.5%), Aave (5.5%) and Synthetix (1.2%). The Crypto Fear and Greed Index briefly returned to ‘greed’ yesterday for the first time in three months, and is currently at 48, or ‘neutral’.

Market-update

After briefly dipping below A$40K (US$29.3K) a week ago, Bitcoin suddenly pumped 15% yesterday and topped $54K (US$40K) in the early hours of this morning – the highest level since mid-June. It’s currently settled back to $50,100 but is still up a whopping 21.6% on seven days ago. Ethereum gained 23.4%, Cardano (12.4%), Ripple (11.5%), Dogecoin (17.8%), Polkadot (21.9%), Bitcoin Cash (16.4%), Litecoin (16%), Chainlink (24.8%), Stellar (23.3%), Aave (28%), Synthetix (14.8%), MATIC (38%).

Market-Update

Bitcoin has just seen its lowest weekly close in eight months, in the aftermath of Grayscale’s unlocking of 25,000 BTC in recent days. Will it hold above US$30K (A$40.9K)? Bitcoin is down 6.7% for the week and is trading just above A$42,000. Bitcoin dragged the rest of the market down: Ethereum fell 10.4%, Cardano lost 14.2%, Ripple (-10.9%), Polkadot (-22.5%), Uniswap (-19.4%), Bitcoin Cash (-13.2%), Litecoin (-14.7%), Chainlink (-16.8%), Stellar (-10.5%), Aave (-19.4%) and Synthetix (-32.3%). The Crypto Fear and Greed Index is sitting at 24, or Extreme Fear.

Market-update

Bitcoin remains 50% off its all-time high in April, but has been essentially going sideways since mid-May and refuses to drop below US$30K (A$40K). It’s currently 3.4% down on seven days ago to trade around A$44,300 (US$33,100). While Synthetix gained 13.5% on the news layer 2 scaling with Optimism would finally launch this month, most other coins were down. Ethereum lost 8.6%, Cardano (-7.3%), Ripple (-4.7%) Polkadot (-3.4%), Uniswap (-3.9%), Bitcoin Cash (-5.6%), Litecoin (-4.3%), Chainlink (-5.4%), Stellar (-6.9%) and Aave (-5%).

Market-update

Bitcoin traded between approximately A$44K (US$33K) and A$48K (US$36K) this week, finishing pretty much flat on seven days ago at A$45,200 (US$34K) at the time of writing. With the London hard fork just around the corner and Eth2 deposit contract filling up, Ethereum is looking very solid and gained 7.8% to trade around A$2,970 (US$2,250). Overall, there was more green than red, with DeFi coins surging: Uniswap was up 16.4%, Aave (39.3%), Compound (62.2%) and Synthetix (60.2%). Ripple increased 3.5%, Cardano (7.9%), Bitcoin Cash (2.6%), Litecoin (2.2%). Chainlink was flat, Polkadot lost 1.7% and Stellar was down 2.2%. The Bitcoin hashrate bottomed out at 59 EH/S during the week, but the average rate was 87.9 EH/s which is about where we are right now. The Crypto Fear and Greed Index is at 29 (fear).