What Changed In The Crypto Markets While You Were Asleep On July 9

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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 declined significantly on July 8, hitting a low of $ 32,077 in the process. However, he bounced back and created a relatively long bottom wick.

Technical indicators are still undecided. The RSI is just below the 50 line, the MACD is still positive but has lost some strength, and the Stochastic Oscillator is undecided between making a bullish and bearish cross.

The long-term range since May 19 is still in place. Support and resistance levels stand at $ 31,300 and $ 40,550 respectively. The latter is the Fib retracement resistance level of 0.382.

Altcoins Movers

The cryptocurrency’s total market cap remained stable on that day and currently stands at $ 1.42 trillion. Within a local range, the market cap was unable to exceed the top of the $ 1.84 trillion range that was reached on May 21 and again on June 4.

Top 100 altcoins mostly see red today. Despite this, there are a handful of altcoins that have earned double-digit percentages. TitanSwap (TITAN) rose nearly 22% on the day and 82.5% last week. 0x (ZRX) is also back at $ 0.83 with a gain of 14.3% on the day.

The 98th ranked Flow (FLOW) is the biggest loser to date. FLOW lost 19% on the day and almost dropped out of the top 100 standings. FLOW is now returning after hitting a local high of $ 16 on July 8.

In other crypto news

The vice governor of China’s central bank said his central bank digital currency (CBDC) trial now involves 10 million people. Its next major phase will include testing at the Beijing Olympic Winter Games in 2022.

U.S. Senator Elizabeth Warren, who chairs the Senate Banking Committees subcommittee on economic policy, has asked the SEC to address concerns about crypto regulation by July 28.

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