Daily market update: Institutional investors bullish on bitcoin

Team Luno
Back to blog

3 minute read

A new report from crypto insurance company Evertas showed that 90% of surveyed institutional investors expect “some increase in crypto holdings” in the next five years. Feeling bullish?


We’re back with all the latest metrics you need to inform your crypto trading. If you’re new to the world of crypto trading, take a look through our beginner’s guide to crypto trading series, 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 11:00am SAST.


Bitcoin price

We closed yesterday, 21 September, 2020, at a price of $10,462.26 – with a daily high of $10,988.30 and a low of $10,380.26.


That’s down from a closing price of $10,938.27 the day before. On the same day last year, one bitcoin would have set you back $10,019.72.


We’re 52% below bitcoin‘s all-time high of $20,089 (17 December 2017).


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

93.1% of all days since 2013-04-28.


Bitcoin volume

The volume traded yesterday was $28,884,999,244 – up from $24,699,523,788 the day before.


Market capitalisation

Bitcoin’s market capitalisation as of yesterday was $193,514,327,128, down from $202,308,927,892 the day before. To put that into context, Jeff Bezos is now worth $177.2 billion. This means he can only afford to buy 91.5% of all bitcoin. Better luck next time, Jeff.


Fear and Greed Index

With more price volatility, sentiment is down from a neutral 48 seen yesterday to 39, shifting back into the fear zone.


Extreme fear can be a sign that investors are too worried, which could be a buying opportunity. When Investors are getting too greedy, that means the market may be due for a correction.


Global 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.

Chart courtesy of IntoTheBlock.com.


Bitcoin’s market dominance

Bitcoin's market dominance stands at 61.73. Its lowest recorded dominance was 37.09 on 8 January, 2018.


Relative Strength Index (RSI)

The daily RSI is currently 41.99. Values of 70 or above indicate that an asset is becoming overbought and may be primed for a trend reversal or experience 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.

Avatar Team Luno

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 @lunomoney.

It’s never too late to get started

Buy, store and learn about Bitcoin, Ethereum, XRP and Litecoin now

Desktop Icon Apple App Store Logo Google Play Store Logo