What Changed in Crypto Markets While You Were Sleeping — June 3

BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.

Bitcoin update

BTC has been trading inside a symmetrical triangle since reaching a low on May 19. Currently, it’s in the process of breaking out of this pattern.

If successful, the next resistance levels would likely be found at $41,300 and $48,250. These targets are the respective 0.382 and 0.618 Fib retracement resistance levels.

The MACD and RSI readings support the continuation of the upward movement, as both are moving upwards. The former is above 0 while the latter is above 50.

BTC Symmetrical Triangle
BTC Chart By TradingView

Altcoin movers

The total cryptocurrency market cap is at one of its highest levels since the crash on May 13 that took it from $2.05 trillion to $1.27 trillion. It currently stands at $1.75 trillion today amid a recovery in the market.

Every asset in the top-50 is in the green on the day, but OKB is in the lead with a 28% gain. Its market cap has now crossed the $1 billion threshold and is trading for $17.18 at the time of press.

In the top-100 cryptocurrencies, only three have made losses on the day. However, Mdex (MDX) is the biggest loser of the day so far, down by more than 7% and falling to the #81 position. On the bright side, it’s still up by over 26% in the past week.

In other crypto news

  • Google will allow ads related to crypto exchanges and wallets if said entities have registered with FinCEN. The change will come into effect in August 2021.
  • Cybersecurity company Norton has announced a new feature to enable users to safely mine crypto through its platform.
  • Research into decentralized finance (DeFi) yield farming activity has revealed some interesting insights into the most forked smart contract in the industry.