What Changed in Crypto Markets While You Were Sleeping — June 2

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 time frame continues to provide a bullish outlook for BTC, mostly due to technical indicator readings.

The MACD is increasing and has given a bullish reversal signal and the RSI has completed a failure swing bottom. In addition, it’s generating a bullish divergence alongside an ascending support line (blue). Finally, the Stochastic oscillator is moving upwards and is relatively close to generating a bullish cross.

Therefore, the outlook from the daily time frame is bullish.

BTC Daily Movement
BTC Chart By TradingView

Altcoin movers

The total cryptocurrency market cap is still trending mostly sideways today in a move to $1.66 trillion. This is only slightly down from yesterday’s high of $1.67 trillion.

Apart from a few deviations, the altcoin market is doing well today. Binance Coin (BNB) is up 8% and has usurped Cardano (ADA) to claim the fourth rank. #6-ranked Dogecoin (DOGE) is up by over 20% on the day to send its market cap back over $50 billion.

Curve DAO Token (CRV), however, is the biggest altcoin gainer of the day so far. It’s up nearly 25% and is trading for $2.27 at the time of press. Internet Computer (ICP) has fallen out of the top-10 by market cap in a 3.3% loss on the day. ICP is now down by almost 26% in the past week.

In other crypto news

  • Following a $6.2 million dollar flash loan exploit over the weekend, decentralize finance (DeFi) protocol Belt Finance has unveiled a compensation plan for the victims.
  • India-based crypto exchange WazirX launched the first NFT marketplace in the country. The exchange, owned by Binance, will run on the Binance Smart Chain.
  • The DeFiYield protocol unveiled a web archive of smart contract audits in what it claims is a world first.