BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
BTC has been increasing since bouncing above the $31,400 horizontal support area on June 22. So far, it has managed to reach a high of $36,600, doing so on June 29.
The upward movement was preceded by significant bullish divergence in the MACD, RSI, and Stochastic oscillator. However, neither has a bullish reading yet. The RSI is just below 50 and the MACD signal line is still negative. Furthermore, the Stochastic oscillator has already made a bearish cross.
The BTC price fell yesterday but did not create a bearish engulfing candlestick. Nevertheless, it seems to have resumed its downward movement today.
The main resistance area is at $40,550. This is a horizontal resistance and the 0.382 Fib retracement level.
The total cryptocurrency market cap has dipped back to $1.43 trillion today in a 3.7% slip. Throughout the month of June, the market cap mostly moved sideways in a range between $1.77 trillion and $1.34 trillion. The majority or cryptocurrencies in the top-100 by market cap are seeing losses on the day.
Maker (MKR), currently ranked #44 is the biggest altcoin gainer of the day, up nearly 13% in the past 24 hours. MKR has also gained 14.4% in the past week.
Although most altcoins are suffering small percentage losses today, Waves (WAVES) is suffering the most. WAVES is down almost 11% on the day and has fallen back to the #61 position by market cap.
In other crypto news
- American private regulatory organization Financial Industry Regulatory Authority (FINRA) has ordered Robinhood to pay a record financial penalty for “significant harm” to customers.
- The Federal Bureau of Investigation (FBI) has been bolstering its systems and using stronger tactics to tackle cybercrime and the nefarious use of cryptocurrency, according to a Bloomberg report.
- Decentralized finance (DeFi) protocol Element has launched to mainnet on Ethereum completed offering higher fixed-rate yields than can be found on existing platforms.