Daily market update: BTC sees correction, where to next?

Team Luno
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4 minute read


Bitcoin surged to a 2020-high this week at $19,390.97, but has since cooled down to $16,828.82. Market corrections are healthy and are to be expected in crypto markets – looking back at 2019 and 2018's prices, we're still seeing consistent growth year-on-year. But for now, let's take a look at what happened in the past 24 hours.


If you’re new to the world of crypto, take a look through our beginner’s guide to crypto trading series to get a better idea of all these indicators, starring in-depth explorations of common strategies, market analysis techniques, and more.


The content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. Luno always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.


All information is correct as of 10.00am SAST.


Bitcoin price


We closed yesterday, 25 November, 2020, at a price of $18,732.12 – down from $19,107.46 the day before.


The daily high yesterday was $19,390.97, marking a high for 2020. Meanwhile, the daily low was $18,581.15. This time last year, the price of bitcoin closed the day at $7,146.13 and in 2018 it was $4,009.97.


We’re 14.11% below bitcoin‘s all-time high of $20,089 (17 December 2017).


As of today, buying bitcoin has been profitable for...


99.7% of all days since 2013-04-28.


Bitcoin volume


The volume traded yesterday was $43,710,357,371, down from $51,469,565,009 the day before. High volumes indicate that a significant price movement has stronger support and is more likely to be sustained. In the bull run of December-January 2018, the highest daily volume was $23,840,899,072.


Market capitalisation


Bitcoin’s market capitalisation as of yesterday was $347,558,803,507, down from $354,504,361,032 the day before.


Fear and Greed Index


The sentiment is still in Extreme Greed at 93. The last time it was below 80 was 5 November. The index has only been higher once, when it touched 95 last summer. The index has now spent a record length of time in Extreme Greed and it’s important to note that the index doesn’t stay this high very often.



In/Out of the money


For any address with a balance of tokens, ITB identifies the average price (cost) at which those tokens were purchased and compares it with the current price. If the current price is higher than average cost, address is ‘In the Money’. If the current price is lower than the average cost, the address is ‘Out of the Money’.






Annualised price volatility using 365 days.



Bitcoin’s market dominance


Bitcoin's market dominance stands at 64.08 Its lowest recorded dominance was 37.09 on 8 January, 2018.


Relative Strength Index (RSI)


The daily RSI is currently 53.56 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.


Resistance and support



What they said yesterday…






What other data points would you like to see covered in our Daily Report? Let us know on Twitter.

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Team Luno

On our way to the moon, we write about all things crypto. And don’t forget we’re humans too. Our blog conveys the views of Luno and the many unique opinions and characters within our team. We’ll never provide you with financial advice, and we urge you to conduct your own research before purchasing or trading any cryptocurrencies. It’s a brave new world out there, and the market can be volatile at times, so never trade with funds you can’t afford to lose. Want to let us know how much you love our blog? Tweet us @LunoGlobal.

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