BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
Bitcoin update
BTC began July 14 by decreasing considerably. It initially fell to a low of $31,550, nearly touching the horizontal support area of $31,300.
However, it bounced back almost immediately and proceeded to reach a close of $32,820. The movement created a long lower wick and a bullish hammer candlestick (green icon).
Despite the bullish candlestick, technical indicators in the daily time frame are bearish. This is especially evident by the bearish cross in the Stochastic oscillator (red icon).
The main resistance area is found at $40,550. This target is the 0.382 Fib retracement level and a horizontal resistance area.
Altcoin movers
The total cryptocurrency market cap is up 2.2% on the day and is currently sitting at $1.38 trillion. Since the beginning of June, the market cap has been stuck in a range between $1.83 trillion and $1.32 trillion. Bitcoin (BTC) and Ethereum (ETH) have gained 1.2% and 2.8% on the day respectively.
Axie Infinity (AXS) has been today’s biggest mover. AXS is up another 38% today and is now up a total of nearly 108% in the past week, making it the top weekly gainer as well.
Celcius Network is the day’s biggest loser. CEL has now lost 7.5% in the past 24 hours and is down a total of nearly 21% in the past week.
In other crypto news
- The Bondly Finance decentralized finance (DeFi) platform has become the latest to suffer an exploit at the hands of malicious actors.
- Uniswap, the largest decentralized exchange, has defended its position in the controversial sale of half a million UNI tokens for its decentralized finance (DeFi) lobbying fund.
- Cryptocurrency investment company QR Capital has been given the green light to list an Ethereum exchange-traded fund (ETF) on Brazil’s stock exchange.
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