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Here’s what you should know on Tuesday, four July
BTC/USD is extra steady than different cash proper now however has been in a position to get well from its crash in direction of $10,500. It’s at the moment buying and selling at $11,369 and faces little or no resistance till $14,000.
ETH/USD has recovered much better and it’s on the verge of cracking $400 once more, at the moment buying and selling at $391. The each day RSI stays overextended even after the current drop.
XRP/USD is up 10% climbing above $0.30 and it’s making an attempt to crack $0.32. The 100-EMA and the 200-EMAs are near a bull break now.
The largest gainer at the moment was undoubtedly MCO after an announcement from Crypto.com about MCO and CRO tokens being merged into one. Ocean Protocol continues with its wonderful bull run and it’s already ranked 86th by market capitalization.
Chart of the day: MCO/USD 1-hour chart
The current flash crash on Bitcoin and subsequentially all main cash was brought on by Binance’s quarterly futures contract. In response to Binance, a big dealer positioned a number of massive orders and managed to pump up the value of Bitcoin as much as nearly $100,000 in simply seconds earlier than it shortly dropped once more. Binance additionally acknowledged that no liquidations occurred throughout this large worth pump, nonetheless, the spot market was clearly affected.
The transfer most likely triggered 1000’s of bots to purchase and promote inflicting the moment flash crash that took Bitcoin all the way down to $10,500.
Youtube banned a cryptocurrency channel for encouraging unlawful actions. This isn’t the primary occasion of Youtube banning crypto-related channels, based on Aaron and Austin Arnold, the homeowners of Altcoin Day by day with 214,000 subscribers, their channel was immediately terminated by Youtube. It appears that evidently after just a few days and interesting a number of occasions, the channel is again stay.
Crypto.com simply introduced the launch of its token swap program which intends to merge the MCO token with the CRO token into one. CRO, Crypto.com Coin is at the moment ranked 10th with a market capitalization of $3.1 billion whereas MCO solely had a $55 million market cap earlier than the huge pump that we noticed at the moment. It’s now near a $100 million mcap.
Quote of the day
Bitcoin is right here to remain. There could be a hacker uproar to anybody who tried to take credit score for the patent of cryptocurrency. And I wouldn’t need to be on the receiving finish of hacker fury.
– Adam Draper
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