What Changed in Crypto Markets While You Were Sleeping — April 20
BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
Bitcoin update
BTC has been moving downwards since April 14. The drop accelerated on April 18, causing a fall to a low of $50,931.
However, this created a very long lower wick, validating the $51,000 area as support.
Technical indicators have turned bearish. The MACD has crossed into negative territory, the RSI has crossed below 50, and the Stochastic oscillator has just made a bearish cross.
Nevertheless, it’s bounced significantly since the lows and is attempting to create a higher low.
The trend can be considered bullish as long as the price is trading above the $51,000 support area.
Altcoin movers
The top-10 crypto market cap rankings haven’t changed since yesterday, though many have seen double-digit percentage losses.
Dogecoin (DOGE) is continuing to shrug off the market decline and is up nearly 20% in the past 24 hours and 466% in the past week. It remains in fifth place but is less than $5 billion from overtaking XRP.
DOGE is also the days biggest altcoin mover, though Stacks (STX) is close behind. STX has added nearly 19% on the day and is trading for $2.43, moving it up to rank 49.
Nano (NANO) is the day’s biggest loser so far. Although it’s up by more than 55% this week, it’s lost almost 21% on the day in a fall back to $8.79.
In other crypto news
In an April 20 blog post, founder and CEO of the EasyFi DeFi protocol, Ankitt Gaur, detailed an attack that resulted in the loss of as much as $6 million from its liquidity pools.
Online retailer Newegg has introduced support for Dogecoin (DOGE) payments on its platform, boosting the meme token’s price considerably.
In the wake of the recent surge, DOGE aficionados have set aside April 20 to commemorate the coin. They call it “DOGE Day.” Many hodlers have expressed enthusiasm for the coin, and celebrations have already begun on social media.
