$BTC 24 Hour High $11,934.90 $BTC 24 Hour Low $11,737.19 $BTC -0.13%
Total Market Cap $375 BN (+0.54%)
24 Hour Volume $97 BN (-1.02%)
Notable Movers OMG Network (OMG) (+59.73%)
BTC Dominance 58.4% (-0.51%)
Bitcoinist says market volatility is reaching notable lows yet again, signaling that a massive BTC price move may be imminent. NewsBTC quotes an analyst who describes $12,000 as "the last great resistance." AMBCrypto says four factors point to us being in an early bull run stage — with two successive quarters of price growth and increasing search traffic on Google.
The charting platform TradingView has revealed that Bitcoin is the second most-viewed asset after Tesla. While the electric vehicle maker proves popular in 31 U.S. states, Bitcoin dominates in California, Washington and Oregon. "The west coast loves crypto the most," the company said. Tesla stock has almost tripled since January, and BTC is up 60% year-to-date.
$BTC is hovering between 11,800 and 11,930, trading now in the bottom half of Bollinger bands, and $60 above its 10 day expectations with RSI at neutral levels after the slight correction. Resistance stands at 11,900 with next level of support at 11,790.
$BTC dominance slides below 60%, opening up this week at 58.4%
$ETH rejected 440 levels at the start of the weekend and corrected to as low as 410 before range bound at 426-430, trading at neutral RSI levels and $5 above 10d SMA expectations. Next support at 416, resistance at 440
$EOS strong push hiding under the shadows of the DeFi alts move after five consecutive strong trading sessions saw it move to 3.84 from 3.00, up 28% at oversold RSI levels and broke above the top Bollinger band. Largely traded below 3 since May 2020 before the pop.
Alts and DeFi watch:
New research suggests that the total value locked in decentralized finance protocols may be smaller than we think. DeFi Pulse figures suggest this stands at $6.3 billion, but Encode Club founder Damir Bandalo claims a more accurate estimate is $3.5 billion. "It gets very easy to count the same dollar multiple times," he explained in a Twitter thread.
Binance CEO Changpeng Zhao has said he is "very supportive of DeFi" — but warned many projects will fail. "The few that succeed will succeed wildly," he predicted. CZ added that centralized exchanges are here to stay, as many customers prefer them. Ethereum co-founder Vitalik Buterin has warned his Twitter followers to "sit out" DeFi unless they understand what’s going on.
$COMP back down below 200 levels, currently trading at 195 after peaking 267 last week during its defi push. Trading at $5 below 10 day expectations and at oversold RSI levels currently
$LINK currently seeing some profit taking action as it slowly sloping down towards tested weekend support levels at 18.60, also trading at bottom Bollinger bands. $LINK is now up +37% over the past week.
$ADA largely range-bound between 0.136 and 0.140 at neutral RSI levels and with Bollinger bands tightening with less volatility over the weekend.
News that caught our eye:
Grayscale Investments has revealed that $217 million has been invested into its crypto funds over the past week. It comes after a glitzy new ad prompting digital currencies begin airing on financial news channels. Founder Barry Silbert said this was the company’s largest fundraising week ever.
StandChart leverages blockchain technology for first of its kind transaction in Bangladesh
Curve reaches $1B in value locked, third DeFi protocol to eclipse this mark
A former Florida tax collector was found to have used public funds to set up a blockchain company