Ethereum continues to outpace a flat Bitcoin

Fibo Quantum

A turbulent start to the week for Bitcoin continues, with the leading cryptocurrency yesterday bouncing between $56,000 and $59,000 as global financial markets continue to wobble in the face of the Omicron variant. 

In spite of the apparent volatility, Bitcoin is actually flat over the past 24 hours, up one per cent to around $57k. Will we see a more significant move before the week is out? 

It seems to be a to-and-fro between good and bad news for investors at the moment. After Monday’s announcement by the CEO of Moderna that vaccines may struggle to offer resistance to Omicron, the head of BioNTech yesterday said that its vaccine (produced by Pfizer) is likely to offer strong protection against any severe disease from the new Covid variant. Stocks have opened the day higher in London, but there may still be choppy waters ahead.

There’s also the ongoing issue of inflation. Bitcoin’s price fell yesterday in the wake of US Federal Reserve Chair Jerome Powell’s warning that the risk of higher inflation has increased, which raised the spectre of interest rate rises. The move suggests that investors are not yet seeing Bitcoin as a hedge against inflation similar to gold.

The big winner this week is Ethereum. The world’s second-largest cryptocurrency by market capitalisation is really shrugging off the uncertainty though. It was approaching $4,800 yesterday, near its all-time high, and was up about seven per cent over the past 24 hours. Ether is currently outperforming Bitcoin by the greatest amount year-to-date since its inception in 2015 as an alternative to the original cryptocurrency. Ether is up about 530 per cent since December, compared with a doubling in value by Bitcoin.

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Yesterday’s Crypto AM Daily in association with Luno

price of Bitcoin

In the markets

The Bitcoin economy

*Definitions and insights can be found at

Total crypto market cap

The total capitalisation of the entire cryptocurrency market at time of writing is currently $2,634,445,198,256, up from $2,566,164,744,828 yesterday.

What Bitcoin did yesterday

We closed yesterday, November 30 2021, at a price of $57,005.43, down from $57,806.57 the day before. The daily high yesterday was $59,113.40 and the daily low was $56,057.28. 

This time last year, the price of Bitcoin closed the day at $18,803.00. In 2019, it closed at $7,424.29. 

Bitcoin market capitalisation

Bitcoin’s market capitalisation at time of writing is $1.074 trillion. To put it into context, the market cap of gold is $11.358 trillion and Tesla is $1.149 trillion. 

Bitcoin volume

The total spot trading volume reported by all exchanges over the last 24 hours was $36,026,281,120, up from $32,227,712,795 yesterday. High volumes can indicate that a significant price movement has stronger support and is more likely to be sustained.


The price volatility of Bitcoin over the last 30 days is 47.32%.

Fear and Greed Index

Market sentiment today is 34, in Fear.

Bitcoin’s market dominance

Bitcoin’s market dominance today is 41.27. Its lowest ever recorded dominance was 37.09 on January 8 2018.

Relative Strength Index (RSI)

The daily RSI is currently 46.00. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience a correction in price – an RSI reading of 30 or below indicates an oversold or undervalued condition. 

Convince your Nan: Soundbite of the day

Bitcoin is “the inevitable future of money”. 

$10 billion deVere Group founder

What they said yesterday

Bitcoin is inevitable…

Just relax…

Man’s got rhymes…

Crypto AM: Editor’s picks

Crypto could give London a unique post-Brexit advantage, says Hammond

Diamond claws: Crypto trading hamster dies after standout investing career

The first hamster to become a crypto investment guru, Mr Goxx, has died of unknown causes.

New cryptocurrency named ‘JRR Token’ blocked by lawyers for Lord of the Rings creator Tolkien

El Salvador to build Bitcoin city at base of volcano

Bitcoin city

Bitcoin’s long-awaited Taproot upgrade has arrived

Bitcoin's long awaited Taproot upgrade just dropped on main net.
Bitcoin’s long awaited Taproot upgrade just dropped on main net.

NFTs set to fund new cryptocurrency movie

El Salvador begins mining Bitcoin using volcanic energy

El Salvador, the first country in the world to make Bitcoin legal tender, has mined over £200 worth of BTC using volcanic energy (Photo by Sean Gallup/Getty Images)

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Crypto AM: Spotlight

Crypto AM: Founders Series 

Crypto AM: Industry Voices 

Crypto AM: Contributors 

Crypto AM: In Conversation with James Bowater

Crypto AM: Tomorrow’s Money with Gavin S Brown

Crypto AM: Mixing in the Metaverse with Dr Chris Kacher

Crypto AM: Visions of the Future, Past & Present with Alex Lightman 

Crypto AM: Tiptoe through the Crypto with Monty Munford 

Crypto AM: Taking a Byte out of Digital Assets with Jonny Fry

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Crypto AM: Parliamentary Special 

Part one of two – April 2021

Part two of two – April 2021

Five-part series – March 2021

Day one…

Day two…

Day three…

Day four…

Day five…

Crypto AM: Events

Cautionary Notes

It’s definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. City AM, Crypto AM and Luno always advise you to obtain your own independent financial advice before investing or trading in cryptocurrency.

All information is correct as of 08:00 BST

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