What Changed in Crypto Markets While You Were Sleeping — April 29

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In Brief
  • Bitcoin teased a breakout over $57,000 yesterday but was swiftly rejected by resistance.

  • Fantom (FTM) is the day's biggest altcoin mover—up by 44%.

  • The SEC has postponed a decision on the VanEck bitcoin ETF.

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The Trust Project is an international consortium of news organizations building standards of transparency.

BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.

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Bitcoin update

BTC has been increasing since bouncing on April 26. The bounce began at a strong support level between $46,900-$47,725. The support is created by the 0.5 long-term Fib (orange) and 0.786 short-term Fib (black) retracement levels. 

However, BTC reached a high of $56,428 before decreasing.

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While the MACD has given a bullish reversal signal, both the Stochastic Oscillator and the RSI are bearish. More specifically, the latter was just rejected by the 50-line and is now decreasing.

Until the price manages to reclaim the current resistance area near $56,000, we cannot consider the trend bullish.

BTC Chart By TradingView

Altcoin movers

The cryptocurrency top-10 by market cap remains unchanged since yesterday. The market is mostly green today following some general recovery in both ETH and BTC. The total cryptocurrency market cap is back to $2.08 trillion after falling to $1.7 trillion last week.

Fantom (FTM) is today’s biggest altcoin gainer by far. It’s up more than 44% in a move to $0.69. The pump has propelled FTM into the #71 spot after an 82% total gain in the past week.

Not many cryptocurrencies are in the red today. WAVES is the biggest loser of the day, although at the moment, it’s only down by just over 3%. This seems like just a normal correction considering that WAVES has added more than 32% in the past seven days.

In other crypto news

  • The U.S. Securities and Exchange Commission (SEC) has deemed it necessary to take more time to make a decision on the approval of the VanEck Bitcoin ETF application.
  • The Polygon blockchain protocol has announced a new decentralized finance (DeFi) fund with the aim of bringing the fledgling financial sector to a wider user base.
  • Regulators in Europe have announced their investigation into Binance over its recent stock token launches.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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Migrated from the East Coast USA to South-East Asia after graduating from East Stroudsburg University. Began trading and writing about cryptocurrencies in 2016, and have been an avid investor in stocks and precious metals since my teens.

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