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

BTC has been increasing since July 20 after it reached a local low of $29,278. It created a higher low on Aug 5 and resumed its ascent after. 

So far, it has managed to reach a high of $46,700 on Aug 10. 

It’s approaching a very significant resistance level between $46,800 and $47,800. The resistance is created by the long-term 0.5 Fib retracement level (white), the short-term 0.618 Fib retracement level (black), and a horizontal resistance area.

Reclaiming this level would go a long way in indicating that the trend is still bullish. However, while the Stochastic oscillator and the MACD are bullish, the RSI has a generated bearish divergence (blue).

The total cryptocurrency market cap has continued to climb today, currently sitting just under the $2 trillion level at $1.97 trillion. This is the highest market cap reading since May 20, 2021. This equates to a 57% gain from the local low of $1.25 trillion that was reached on July 21.

The majority of altcoins in the top-100 by market cap have shown steady gains in the past 24 hours. Axie Infinity (AXS) takes the cake, however, growing by a massive 57% on the day to a new all-time high of $72.61. For reference, AXS was trading at around $5 at the beginning of July.

Internet Computer is today’s biggest loser thus far, down 7.1%. Despite this loss, ICP is trading at a two-month high of around $70 after bottoming out below $30 near the end of July.

The post What Changed in Crypto Markets While You Were Sleeping — Aug 11 appeared first on BeInCrypto.

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