BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.
Bitcoin update
The daily chart shows that BTC reached a local high of $40,550, going into the range highs that have been in place since May.
However, the rally could not be sustained and BTC created a long upper wick (red icon). It proceeded to close the day at $37,237.
Technical indicators are bullish. The Stochastic oscillator has made a bullish cross and the RSI is above 50. In addition to this, the MACD is moving upwards and has nearly crossed into positive territory.
Altcoin movers
The total cryptocurrency market cap has retraced slightly today after reaching a local high of $1.57 trillion on July 26. The market cap is down 3% from this figure today and is currently hovering around $1.52 trillion. Despite most cryptocurrencies pulling back a bit since their highs yesterday, many are still up double-digit percentages in the past week.
SwissBorg (CHSB) is today’s top gainer, adding 13% on the day to push it back into the top-100 by market cap. CHSB is now up nearly 40% in the past seven days.
Internet Computer (ICP) has suffered the most today, losing almost 13% in the past 24 hours. ICP is now trading for under $40. This is a more than 90% loss since ICP debuted at around $500 in May 2021.
In other crypto news
- Shopify now allows merchants to sell NFTs directly on the platform, and NBA team Chicago Bulls have launched a “Legacy Collection” alongside this.
- The Binance Smart Chain (BSC) blockchain is attempting to tighten security with the launch of a $10 million joint bug bounty program for the ecosystem.
- The latest decentralized finance (DeFi) protocol to draw in the big venture capital investors is Lyra, which plans to launch layer 2 options trading on Ethereum.