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What Changed in Crypto Markets While You Were Sleeping — May 21

2 mins
Updated by Kyle Baird
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In Brief

  • Bitcoin managed to bounce back to the $43,000 level but was rejected by resistance.
  • Monero (XMR) and Telcoin (TEL) are currently tied for the biggest altcoin gainer of the day.
  • PancakeBunny released a postmortem on a flash loan exploit that cost it millions of dollars.
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BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.

Bitcoin update

BTC increased on May 20 after finding support the previous day. However, it was rejected by the 0.382 Fib retracement resistance at $41,200. This is only a minor resistance level. The most critical resistance for BTC to overcome is $48,170. 

Despite the rejection, technical indicators have created the first bullish sign in the daily time frame. The RSI has moved above the 30-line, crawling out from oversold territory. However, both the MACD and Stochastic oscillator are still bearish. 

The primary support area is found at $30,000, a level which was reached on May 19.

BTC Bounce
BTC Chart By TradingView

Altcoin movers

The cryptocurrency market cap is at $1.74 trillion today, still trending sideways after recovering from a massive market rout on May 19.

Binance Coin (BNB) is trading at $374 and its market cap is less than $1 billion away from reclaiming the third-ranked position from Tether (USDT). Dogecoin is also inching upwards and is close to overtaking XRP in the #6 position.

Monero (XMR) and Telcoin (TEL) are currently tied for the biggest altcoin gainer of the day. Both are up just over 19% in the past 24 hours. SHIBA INU (SHIB) is still feeling the shockwaves from the market downturn. It’s both the day’s and week’s biggest loser, down 14% and 56% respectively.

In other crypto news

  • The embattled PancakeBunny exchange has published a detailed breakdown of the incursion that cost it millions of dollars and dumped token prices by 95% yesterday.
  • Christie’s auction house will sell five artworks by Andy Warhol as non-fungible tokens (NFT), with the proceeds going to The Andy Warhol Foundation for the Visual Arts.
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In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Kyle Baird
Kyle migrated from the East Coast USA to South-East Asia after graduating from Pennsylvania's East Stroudsburg University with a Bachelor of Science degree in 2010. Following in the footsteps of his grandfather, Kyle got his start buying stocks and precious metals in his teens. This sparked his interest in learning and writing about cryptocurrencies. He started as a copywriter for Bitcoinist in 2016 before taking on an editor's role at BeInCrypto at the beginning of 2018.
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