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  • Writer's pictureAnthony Holman

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

upward trend.

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.

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