BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
Bitcoin update
BTC is continuing its decline from its all-time high on April 14. Since then, the price has accelerated its decrease to the support line of an ascending parallel channel.
Yesterday, BTC broke down from the channel and fell below the 0.618 retracement support at $51,368, an area that could now act as resistance.
Technical indicators in the daily time-frame are bearish. The Stochastic Oscillator has made a bearish cross while the RSI has dropped below 50. Furthermore, the MACD is negative.
The next support is found at $47,680, created by the 0.786 Fib retracement support. It is expected to reach a bottom between $47,600 and $46,600.
Altcoin movers
The top-10 crypto market cap rankings are much the same. The top five coins have retained their positions from yesterday. However, there is a serious decline across the board with most coins falling into the red.
Bitcoin Gold (BTG) is the biggest altcoin mover trading at $132.37, a gain of 55.65% at the time of publishing.
Digitbyte (DGB) was the biggest loser. The coin dropped 33.21%to $0.1091 in the last 24-hours. However, it’s had a good week overall, gaining 11.45%.
In other crypto news
- Reef Finance to launch the industry’s first blockchain exclusively built to support the ever-growing DeFi sector. This new all-in-one DeFi suite aims to simplify yield aggregation.
- Trading platform Robinhood has announced a new chief of operations (COO), Christine Brown. The new direction and strategy that Robinhood is taking comes at a time when interest in crypto is at an all-time high.
- SushiSwap has officially integrated Chainlink price feeds on the Binance Smart Chain and Ethereum. The decentralized exchange and DeFi platform is looking to power Kashi, SushiSwap’s new lending platform.
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