For this weekend, the beers are paid by us. We know you’ll be asking why but we really won’t tell you.
For now we want to tell you that we leave the news for the weekly summary. Then in the following lines of text we want to tell you how the market will celebrate the end of the week.
Total Market Capitalization And Sentiment
We have a little consolidation. Then over the last 24 hours, total market capitalization dipped back down again around ~$221.5 billion to ~$219.5 billion, with most coins seeing either gains or losses in the ~1–3% range, and according to coinmarketcap.
Seems like the market is seeming some consolidation at these levels, following the large market downturn we saw late last month. 24-hour volume registered ~$49.8 billion, pretty much at average levels for the week.
Sentimental indicators show us the low interest of people in investing in cryptocurrencies.
Bitcoin And Dominance
Bitcoin is currently trading around ~$8,190, down ~1.15% over yesterday.
More consolidation going on at these levels for BTC as well. It will be interesting to see if Bitcoin can hold this $8,000 range and $8410, a level it faced some difficulty breaking to the upside of in May — June this year.
On the daily chart, the 50-day EMA line has crossed to the downside of the 100-day EMA line, and RSI is at ~29 (indicative of strong bearish momentum).
On the other hand, analyzing the dominance of Bitcoin, we see that it has been slowly falling in recent weeks. For now, around 69% remain.
See you in the next story. With Love 💛, Rubikators Team.
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