What Changed in Crypto Markets While You Were Sleeping — April 9

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In Brief
  • Bitcoin is trading up on the day after making a bullish engulfing candlestick yesterday.

  • The XRP market cap has overtaken Tether (USDT).

  • JPMorgan Chase released its 2020 Annual Report to shareholders.

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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.

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Bitcoin update

Despite BTC decreasing on April 7, it created a bullish engulfing candlestick the next day. This is a sign that buying strength is increasing. The April 7 dip has now completely retraced.

The RSI is trending above 50 and the Stochastic oscillator has made a bullish cross.

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Therefore, it’s likely that the trend is bullish.

BTC/USD Chart By TradingView

Altcoin movers

The crypto top-10 are nearly all in the green this morning. XRP is already up almost 7% in a move back over $1.00. Its market cap passed the $46 billion level, overtaking Tether’s (USDT) #4 spot.

Bitcoin Gold (BTG) is the biggest daily gainer for the second time this week. It’s currently trading for nearly $113 in a 32% gain on the day. BTG is also the biggest gainer of the past week, adding on 173%.

Harmony (ONE) is the biggest loser of the day at the time of press. The token is down by 6% on the day and 10% in the past week. This has caused it to move back to the #78 position.

In other crypto news

  • In an April 9 announcement, Badger DAO stated that its partnership with Fireblocks aims to bring institutional Bitcoin to the DeFi ecosystem. The Bitcoin wrapping protocol also has aspirations to increase its usage among the growing institutional investor base.
  • A new Metaverse Index (MVI) will follow the leading tokens and projects in the NFT and virtual metaverse space. It has been launched by Index Coop, a DAO specializing in creating crypto-economy index tokens.
  • JPMorgan Chase CEO and billionaire Jamie Dimon released the 2020 Annual Report to shareholders. Dimon touched upon crypto and explained that the regulatory understanding surrounding the industry is needed.

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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Kyle migrated from the East Coast USA to South-East Asia after graduating from East Stroudsburg University. He began trading and writing about cryptocurrencies in 2016, and has been an avid investor in stocks and precious metals since his teens.

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