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What Changed in Crypto Markets While You Were Sleeping — July 2

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·2 min read
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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

Bitcoin had been moving upwards since June 22. At the time, it had reached a low of $28,805. The ensuing bounce caused it to reclaim the $31,400 horizontal support area.

On June 29, BTC reached a high of $36,600 before falling sharply. It’s currently trading near $32,800.

Technical indicators in the daily time frame are bearish. The MACD is close to giving a bearish reversal signal (red icon) and its signal line is below 50. The RSI is below 50 and decreasing while the Stochastic oscillator has made a bearish cross.

The main resistance area is found at $40,550. This target is a horizontal resistance level and the 0.382 Fib retracement level.

BTC Trading range

Altcoin movers

The total cryptocurrency market cap has dipped back to $1.4 trillion today. It’s now closer to the range lows of $1.33 trillion after briefly touching a local high of $1.75 trillion on June 15. Most cryptocurrencies in the top-100 are down slightly over the past 24 hours.

The only altcoin in the top-100 that has gained more than 10% in the past day is XDC Network (XDC). It’s up by more than 13% on the day and has gained a whopping 60% in the past week.

On the other hand, Bitcoin Cash ABC (BCHA) is down almost 10% in the past 24 hours. It has nearly slipped out of the top-100 and is currently sitting at the #96 position.

In other crypto news

  • The South Korean Bithumb exchange has implemented a new policy that prevents employees from investing in or trading cryptocurrencies using Bithumb accounts.

  • Ukraine has passed a new law that would put its central bank digital currency (CBDC) on the same level as other payment instruments in the country.