What Changed in Crypto Markets While You Were Sleeping — April 16

Kyle Baird
·1 min read

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

Bitcoin update

Bitcoin has been moving downward since April 14 when it reached an all-time high price of $64,895.

Currently, it’s returned to the $61,500 zone that it previously broke out from. It’s in the process of validating the level as support.

Despite the ongoing drop, technical indicators are still bullish.

If BTC bounces, the next resistance area would likely be found at $68,724.

Bitcoin Daily Movement

Altcoin movers

The crypto market has been shaken up a bit today. After getting kicked out of the top-10 yesterday, Dogecoin (DOGE) surged to a new all-time high of $0.30.

Not only has DOGE reclaimed the top-10, but its 90% pump caused its market cap to swell to over $34 billion. This puts DOGE in eighth place, ahead of Uniswap (UNI) and Litecoin (LTC). It’s the day’s biggest altcoin mover by far.

KuCoin Token (KCS) is today’s biggest loser. KCS has lost 12% in the past 24 hours and is currently trading for $14.54.

In other crypto news

  • In a sudden and surprising move, Turkey has banned the use of cryptocurrencies as payment instruments.

  • The Robinhood crypto and stock trading platform was briefly non-functional early this morning. Usage was fully restored a few hours later. The outage occurred as Dogecoin spiked to a new high of $0.30.

  • The Rothschild Investment asset management firm purchased $4.75 million worth of Grayscale Ethereum Trust Shares, as well 8,000 shares in the BTC Trust, in Q1 2021.