What Changed In The Crypto Markets While You Were Asleep On July 8th

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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

BTC made another attempt to move upward on July 8 but created another long top wick. It has fallen slightly since, reaching a low of $ 32,530 so far.

It has been trading relatively close to this level since June 21.

Technical indicators are undecided. The RSI is at line 50 and the Stochastic Oscillator is undecided whether to make a bullish or bearish cross. Likewise, the MACD has lost its vigor but remains positive.

BTC always trades in the same range between $ 31,300 and $ 40,550. The latter target is the 0.382 Fib retracement resistance level.

Altcoins Movers

The cryptocurrency’s total market cap is down nearly 7% today after facing headwinds earlier this week. As of June 22, the market capitalization has been moving in a narrow range between $ 1.3 trillion and $ 1.5 trillion. It is currently near the middle of that range at $ 1.42 trillion.

Only a handful of altcoins in the top 100 recorded any gains on this day. Of these, Flow (FLOW) is the top performer, adding over 18% in value over the past 24 hours. FLOW is also one of the top winners of the week, up almost 60%.

On the other side of the spectrum, KuCoin Token (KCS) has lost over 21% today. However, despite the setback, KCS is one of the top performers over the past week, adding almost 52% in value.

In other crypto news

Argentina’s national deputy for Mendoza, Jos Luis Ramn, announced a new bill that would see employees in certain sectors receive wages in cryptocurrency.

The Reserve Bank of New Zealand has started a consultation to revamp its treasury and currency system, which includes reviewing a potential central bank digital currency (CBDC).

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