Bitcoin holds above $100K, and what’s up with the Bitcoin Cash rally?
Takeaways
📈 Bitcoin Cash outperforms - Bitcoin Cash (BCH) jumped 6% overnight, with a 17% gain over the past week.
😐 Market remains in neutral mood - The Fear and Greed Index holds steady in Neutral.
⚖️ Bitcoin consolidation continues - stays near $105,000, with the RSI signalling neither overbought nor oversold territory.
While Bitcoin has been cruising along the $105,000 level for the past week, Bitcoin Cash (BCH) is up 6% overnight, netting investors a 17% gain over the past week. There’s no obvious news event that could have sparked the rally, but some point to solid fundamentals and a shift in capital towards midcaps as possible drivers for the price pump.
It’s a relatively lacklustre affair in other markets, but some say the consolidation, despite ongoing political and economic uncertainty, is broadly reassuring.
Otherwise, it’s more of the same. Investors remain neutra. The Bitcoin Relative Strength Index (RSI) sits somewhere between overbought and oversold, and the total crypto market cap reflects little movement either way, which, all things considered, isn’t necessarily a bad thing.
In the markets…
🌍 Total crypto market cap ↘️
The global crypto market cap is approximately $3.25 trillion, reflecting a 0.56% decline over the past 24 hours.
🟠 Bitcoin (BTC) ↗️
Price: $105,149, up 0.30% in the last 24 h
Daily high: $105,036
Daily low: $104,004
📈 S&P 500 ↘️
SPY is currently down about 0.03% since yesterday’s close.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 48/100, indicating a neutral sentiment.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 60, still in the neutral zone (30–70).
