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What Changed in Crypto Markets While You Were Sleeping — June 17

2 mins
Updated by Kyle Baird
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In Brief

  • Bitcoin (BTC) is back to $39,300 after closing yesterday at $38,300.
  • AMP is up 24% on the day.
  • The SEC has once again delayed a decision on the VanEck bitcoin ETF.
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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

On June 15, BTC reached a high of $41,330. The high was made inside the 0.382 Fib retracement resistance level at $41,250. Bitcoin has been moving downwards since. On June 16, it created a bearish candlestick and fell to a low of $38,116 in the process.

Regardless of the drop, technical indicators are providing a bullish outlook. The MACD’s momentum bar has created three bars in the positive territory. Both the RSI and Stochastic oscillator are increasing; the former is above 50 while the latter has made a bullish cross. 

These signs point to an eventual breakout above the aforementioned resistance area. If this occurs, the next resistance would likely be found at the 0.5 Fib retracement level at $44,755.

BTC daily movement
BTC Chart By TradingView

Altcoin movers

The total cryptocurrency market cap has dipped back below $1.7 trillion this morning in a 2% loss on the day. Since reaching a local low of $1.46 trillion on May 24, the market cap hasn’t been able to move past the $1.81 trillion level.

The majority of cryptocurrencies in the top-100 by market cap have experienced slight losses in the past 24 hours. Bitcoin (BTC) and Ethereum (ETH) are down 2% and 3% respectively. Amp (AMP is once again the biggest daily gainer. AMP is up nearly 24% on the day and has added 93% in the past week.

Shiba Inu (SHIB) was yesterday’s biggest gainer, but a pullback has caused SHIB to fall more than 9% today. Despite this, SHIB has still added 10% to its valuation in the past week,

In other crypto news

  • The United States Securities and Exchange Commission (SEC) has delayed its decision on the VanEck bitcoin ETF again, saying in a filing that it wanted public commentary.
  • The Alchemix decentralized finance (DeFi) protocol discovered a potential exploit and acted quickly enough with a patch before the funds disappeared.
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Kyle Baird
Kyle migrated from the East Coast USA to South-East Asia after graduating from Pennsylvania's East Stroudsburg University with a Bachelor of Science degree in 2010. Following in the footsteps of his grandfather, Kyle got his start buying stocks and precious metals in his teens. This sparked his interest in learning and writing about cryptocurrencies. He started as a copywriter for Bitcoinist in 2016 before taking on an editor's role at BeInCrypto at the beginning of 2018.
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