Market Watch Update
Updated: Aug 17, 2022
Bitcoin (BTC) rallied 3.5% following the latest numbers from the US Consumer Price
Index (CPI), which turned out better-than-expected.
The news helped Bitcoins’ price to reach a 7-day high - crossing the $24,000
Bitcoin investor Lark Davis tweeted out this chart, which shows that the Relative
Strength Indicator (RSI), a key momentum indicator used by traders, is continuing its
Davis said in his tweet:
“Very nice bounce for Bitcoin RSI, uptrend remains intact. Let's keep pumping!
Taking a look at Bitcoins’ weekly chart - BTC saw a 7-day low of around $22,485, before
bouncing from that area and rallying to a high of $24,203.
The total market cap for crypto is up 0.7% over the last 24-hour cycle as it continues
setting new 30-day highs. The current total crypto market-value is now at its highest
mark since mid-June - as of wednesday it stands at $1.12T.
Taking a look now at the Bitcoin Dominance Chart
Ethereum gained about 1.5% on Bitcoin over the last 7-days.
Bitcoin remains in the number 1 spot with 40.1% share of the crypto market.
Followed by Ethereum, in second place, which currently holds 19.8% share of the
Followed by Tether (USDT) in third with about 5.8%.
On a list of CoinMarketCaps’ Top 100 cryptocurrencies…
Celsius (CEL) - ranked 79th by total market value - is the week's biggest winner.
The CEL token price rose by 103% over the last 7-days and 31% in the last 24-hours
following news the crypto company Ripple (XRP) is exploring a buyout of Celsius’
assets. The CEL token, as of Wednesday evening, was trading hands at $2.40.
On the other side of the top 100 -
Unus Sed Leo (LEO) - ranked 20th by total market value - is the week’s biggest loser.
The token is down 6.7% over the last 7-days - in a market that has mostly been green -
and down 3.6% over the last 24-hours.
The LEO token as of Wednesday was trading hands at $4.71.