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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 (BTC) has resumed the bounce from April 26. The bounce began at a confluence of Fib support levels between $46,900-$47,725. The area is created by the 0.5 long-term Fib (orange) and 0.786 short-term Fib (black).
So far, it has reached a local high of $55,738.
An interesting development is the bullish reversal signal in the MACD.
Despite this, the RSI and Stochastic oscillator are still bearish.
BTC Chart By TradingView
Altcoin movers
The cryptocurrency top-10 rankings have remained mostly unchanged today. However, Dogecoin (DOGE) is close to overtaking Cardano’s (ADA) #6 spot. DOGE is now only $3 billion short of overtaking ADA after a 7% pump this morning.
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Bitcoin Cash (BCH) is also continuing to close in on Litecoin (LTC) to rejoin the top-10. At the time of press, BCH was a little over $500 million away from overtaking LTC.
Polygon (MATIC) is today’s biggest altcoin mover. It managed to reach a new all-time high at $0.90 today but has since corrected back to $0.73. MATIC is currently holding the #37 rank. It’s up 29% on the day and has seen a massive 118% gain on the week.
DENT is the day’s biggest loser. After enjoying a 26% pump yesterday, DENT has fallen back under $0.011, losing 14% so far today.
In other crypto news
- Crypto wallet MetaMask has continued to grow at unprecedented rates reporting the latest milestone in monthly users and transactions.
- South Korea’s central bank will conduct central bank digital currency (CBDC) simulation experiments in the latter half of the year, according to an official report.
- Goldman Sachs has released a study headed up by analyst Ben Snider on stocks connected to crypto and blockchain. Specifically, stocks that could see a sharp spike if bitcoin prices take off again.
