BTC shows resilience amid slower market condition
In the altcoin space, XTZ and ALGO continued to lead the gains, traded 8% higher against the USDT. Away from that, most of the altcoins have only seen small gains, while LTC, TRX, and XMR were slightly dipped into the red. ETH is expected to remain in focus, as the second-largest crypto has performed the latest hard fork successfully. Istanbul contains six unique upgrades to improve Ethereum’s network, including reducing some of the gas costs and allows ETH and ZEC to work with one another.
Elsewhere, Europe has continued to dominate in the crypto macro headlines. This came after the report saying France is set to test its own central bank digital currency. Recent research from Deutsche Bank suggests that digital currency could eventually replace cash one day, as demand for anonymity and a more decentralized means of payment grows. However, EU officials stressed that private digital currencies like Facebook’s Libra should not be allowed in the bloc until risk concerns have been addressed.
What You Missed
Figure 1: BTCUSD Daily Chart (Source: FX Street)
Figure 2: OKEx BTC Long/Short Ratio (Source: OKEx)
Figure 3: OKEx BTC Futures Taker Buy and Sell (Source: OKEx)
Figure 4a: BTCUSDT Weekly Chart (Source: OKEx; Tradingview)
Figure 4b: BTC Long-term Weekly Chart (Source: Tradingview)
Figure 5: ETHUSDT 4-Hour Chart (Source: OKEx; Tradingview)
Figure 6: XRPUSDT Daily Chart (Source: OKEx; Tradingview)
Figure 7: BCHUSDT Daily Chart (Source: OKEx; Tradingview)
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