BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
Bitcoin is down slightly on the day after touching $35,500 in the early morning of June 25. Despite the rebound in price, BTC is still trading under a descending resistance line drawn from May 10. In order to break above this resistance. BTC would need to confidently move and close above $37,500. At the time of press, bitcoin was trading for $34,225.
There is a crucial horizontal support zone still in place that was formed at the start of 2021. If BTC breaks down below this level, it will be likely that it would test lower support levels in the range of $25,500-$27,000.
The total crypto market cap is up by just over 2% on the day and is currently sitting at $1.41 trillion. Since falling below $2 trillion on May 19, the market cap has been moving in a range between $1.83 trillion and $1.31 trillion.
Most cryptocurrencies at trading relatively flat on the day, but a handful in the top-100 are performing quite well. Nano (NANO) is the day’s top gainer so far. It’s up by nearly 14% on the day despite a 15.5% loss in the past week. Dogecoin (DOGE) and THORChain (RUNE) have also added on more than 10% in value over the last 24 hours.
Yesterday’s top gainer, Klaytn (KLAY) has turned into today’s biggest loser. KLAY is back to trading at $1.02 after a 9% loss so far.
In other crypto news
- Robinhood is having its public listing plans pushed back after it had initially planned to launch an IPO in June. The U.S. SEC is reportedly looking into its cryptocurrency business.
- El Salvador President Nayib Bukele revealed a new digital wallet for bitcoin, saying that citizens will receive $30 after they download it.
- Fintech and crypto firm Circle has grand plans for decentralized finance (DeFi) with the unveiling of a new application programming interface for institutions.