What Changed in Crypto Markets While You Were Sleeping — April 6

Bitcoin update

Bitcoin (BTC) has been increasing since bouncing from support on March 25. While the increase has been significant, BTC has stalled near the $60,000 level. It’s been struggling to move above it since March 30. 

However, technical indicators are bullish. The MACD has given a bullish reversal signal, the RSI has crossed above 50, and the Stochastic oscillator has made a bullish cross. 

Therefore, BTC is expected to eventually break out from this minor resistance level.

Altcoin movers

The crypto top-10 by market cap saw some slight changes this morning as the market sees some relief.

XRP has jumped over Cardano (ADA) to take the #6 spot. XRP is up nearly 21% in the past 24 hours, making for a 50% gain in the past week. It’s trading for $0.87 after briefly reaching $0.94. This is the highest XRP has traded for since April 2018. It’s just under $2 billion away from overtaking Polkadot’s (DOT) #5 position.

Stacks (STX) has been the biggest daily gainer in the top-100 so far. It’s currently trading for $2.30 in a 100% gain in the past 24 hours.

After nearly breaking into the top-10 yesterday, BitTorrent (BTT) has corrected in a fall back to #20. It’s trading for $0.0104 after losing 18% in the past 24 hours. However, over the past seven days, BTT is up a massive 176%.

In other crypto news

• According to an April 6 tweet, the SushiSwap community decided to lock two-thirds of liquidity provider rewards for six months during Q3 2020. That lockup period has now lapsed leaving those rewards to be distributed.

• The Liquity decentralized borrowing protocol allows users to draw 0% interest loans against Ethereum, which is deposited as collateral. There is a low collateral ratio and loans are paid in its new dollar-pegged LQTY stablecoin.

• An NFT aficionado purchased a virtual real estate asset for $512,712. The user completed the mega purchase on the authentic digital art marketplace, SuperRare.