What Changed in Crypto Markets While You Were Sleeping — July 6
2 min readBeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
BTC update
After BTC created a bearish engulfing candlestick on July 5, it proceeded to reach a low of $33,125 before bouncing.
Technical indicators are bearish. The MACD histogram has created a lower momentum bar (red icon) that could give a bearish reversal signal if there is another negative daily close.
While the Stochastic oscillator has made a bullish cross (green circle), the RSI is still below 50.
The closest resistance area is at $40,550 while the closest support level is found at $31,400.
Altcoin movers
The total cryptocurrency market cap has gained 2.5% today in a move to $1.52 trillion. The market cap has been gradually growing since hitting a local bottom of $1.32 trillion on June 23. The range high of $1.83 trillion was reached on June 4.
The majority of cryptocurrencies in the top-100 have grown over the past 24 hours, many even gaining double-digit percentages. The best performer of the past 24 hours is KuCoin Token (KCS) which has added more than 41% in the past day and is up 51% in the past week. Ecomi (OMI) and Synthetix Network Token (SNX) are also continuing to climb today, both are up by more than 35%.
XDC Network (XDC) is the day’s biggest loser so far. XDC is down 5% on the day, however, over the past week XDC has been one of the top gainers, adding over 54%.
In other crypto news
- Decentralized finance (DeFi) tokens are leading today’s market push which has increased total cryptocurrency market capitalization to over $1.5 trillion once again.
- International Blockchain Consulting “IBC” Group has responded to the Chinese government’s clampdown on cryptocurrency by closing down all of its BTC and ETH mining facilities across China.
- Decentralized finance (DeFi) protocol Yearn has teamed up with Enzyme Finance to offer greater yield opportunities for its users.
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