What Changed In The Crypto Markets While You Were Asleep On June 29

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BeInCrypto presents our daily morning roundup of crypto news and market changes that you may have missed in your sleep.

Bitcoin Update

Bitcoin is currently trading at $ 35,220 and is up 11.5% from the $ 31,500 support. At the moment, BTC sits directly below a descending resistance line that has been in place since the price of BTC fell from the $ 59,000 level on May 10.

If BTC is unable to move and close above $ 37,000 over the next few days, it could drop even further to test support levels below nearly $ 26,500.

The RSI has continued its uptrend and is just below the 50-point threshold. In order to confirm a short-term uptrend, the RSI would probably need to break through 50 and hold that level. The next resistance is found at the highs of the range near $ 40,500.

Altcoins Movers

The cryptocurrency’s total market cap rose another 3% on the day and is just below the $ 1.5 trillion mark. Since falling from an all-time high of $ 2.550 billion on May 12, total market capitalization has mostly moved in the range of $ 1.83 trillion to $ 1.32 trillion.

Almost all of the top 100 cryptocurrencies by market cap have risen in value in the past 24 hours. Compound (COMP) is the biggest gain of the day so far, up 22.4% in the past 24 hours and up 45% in the past week. However, Elrond (EGLD), Ethereum Classic (ETC) and Bitcoin SV (BSV) are right behind him. Each of those honorable mentions is also up over 20% on the day.

Quant (QNT) is the biggest loser in altcoin today. QNT is currently trading at $ 76.64, down 7.5% on the day. Despite this, QNT is still up over 32% last week.

In other crypto news

Mexico’s central bank and other financial authorities have said cryptocurrencies cannot be used in the financial system, according to a recently released document.

Coinbase CEO Brian Armstrong spoke about the exchange listing process on Twitter, saying he wanted to add as many cryptocurrencies as possible, provided they meet the standards.

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