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BeInCrypto presents our daily roundup of crypto news and market changes that you may have missed in your sleep.
Bitcoin Update
The BTC weekly chart provides a bearish picture. Bitcoin appeared to have started a bullish move two weeks ago after creating a bullish hammer candlestick with a long lower wick. The rebound occurred just at the $ 32,500 long-term horizontal support area (green icon).
However, it created a bearish candlestick last week, engulfing the previous bullish candlestick and canceling the bullish sentiment.
While still trading above support, technical indicators are bearish. The MACD Histogram moved into negative territory, the RSI fell below 50 and the Stochastic Oscillator made a bearish cross.
In the event of a failure, the next support would be found at $ 27,000. This target is the 0.618 Fib retracement support level.
Altcoins Movers
The cryptocurrency’s total market cap has fallen more than 7% in the past 24 hours to a local low of $ 1.42 trillion. This is a nearly four-month low, the last time the market cap was this low was on February 28, when the market cap was just below $ 1.4 trillion.
Stables aside, almost all of the top 100 cryptocurrencies have lost value in the past day, Bitcoin (BTC) and Ethereum (ETH) are down 15% and 19% respectively. The only altcoin in the top 100 that is in the green is Livepeer (LPT). Currently, the # 100 ranked altcoin is up 2.6% on the day.
Several altcoins have suffered double-digit percentage losses in the past 24 hours, but Stacks (STX) is down 15.1% in the past day and 22% in the past week.
In other crypto news
Malta was said to have been singled out by the FATF for its lax oversight of cryptocurrency transactions, according to local media.
A member of the European Central Bank (ECB) said in an interview that the digital euro is more capable of protecting privacy than private alternatives because it will not focus on the commercialization of data.
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