The Cryptocurrency Market While You Were Asleep – June 4

Let us find out what the market has in this morning’s roundup. Indeed, changes are natural in the virtual markets. Here is what you missed while sleeping.

Bitcoin Update

Since May 19, BTC has been trading in the symmetrical triangle. That is after the leading crypto asset reached its local low. However, June 3 saw Bitcoin breaking out to the $39,476 high shortly afterward. Unfortunately, the virtual coin saw declines that forced it back to the red icon (symmetrical triangle).

Although the RSI and MACD indicate a bullish attitude, the two are at critical points. Any continuous declines will result in a bearish move.

Altcoin Movers

Yesterday, the crypto market indicated promising signs as most top digital coins surged. However, regardless of the bullish momentum, the total crypto market capitalization declined to $1.63 trillion. Today, most of the top-100 digital coins are trading in the red zone. For example, Dogecoin lost 14%, falling back to the 6th spot, as ADA ranks 5th at the same time.

For now, Filecoin (FIL) seems to be the only coin with promising moves. The asset increased by more than 25% since the past day, trading just below $90. From the past week, FIL has surged nearly 30%.

As much as most digital coins witnessed massive losses in percentages today, Zilliqa (ZIL) remains the main loser of the day. The crypto coins declined by about 16%, falling back to rank 65.

Other Cryptocurrency News

• JPMorgan Chase has ensured more crypto services. The platform added multiple new crypto positions, planning to expand the services to client and merchant transactions space.
• Impossible Finance eyes to create a multi-chain network to promote DeFi liquidity and BSC (Binance Smart Chain) composability.
• Paxful, a P2P marketplace, declared the launching of Paxful Pay, a new financial solution. With this new functionality, businesses across the globe can accept BTC payments without challenges.

At the moment, the crypto market remains unpredictable. Each day seems to come with new fluctuations. If you are planning to invest now, you may have to be extra careful. Employ your various strategies to mitigate the related risks.

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