What Changed in Crypto Markets While You Were Sleeping — July 7

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In Brief
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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 created a bearish engulfing candlestick on July 5. The next day, it attempted to initiate an upward move but only left a long upper wick in place (red icon). 

However, the MACD did not give a bearish reversal signal, creating a higher momentum bar instead. In addition, the Stochastic oscillator made a bullish cross. 

The closest support and resistance levels are found at $32,000 and $40,550.

BTC Range
BTC Chart By TradingView

Altcoin movers

The total cryptocurrency market cap is up by another 1% today in a move to $1.52 trillion. The majority of cryptocurrencies in the top-100 are trading mostly flat on the day. While Ethereum (ETH) is up by 1.5%, bitcoin (BTC) has fallen by 0.5% in the past 24 hours.

Axie Infinity (AXS) is the top altcoin mover of the day and in the past week. AXS has grown by another 24% since July 6 and is just shy of a 200% growth in value in the past seven days.

ECOMI (OMI) is the day’s biggest loser so far, losing more than 14%. However, this appears to just be a slight pullback. Despite its losses today, OMI is still up by 85% in the past week.

In other crypto news

  • The Bybit cryptocurrency exchange is ramping up its know-your-customer (KYC) procedures with new requirements rolling out next week.
  • High-level executives from South Korea’s Bithumb exchange are facing charges of fraud from former partners in Thailand.

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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