Crypto Markets Holding Gains, With Bitcoin Above $6,500

Crypto markets are relatively stable today, July 4, as data from Coin360 shows, with Bitcoin (BTC) holding above the $6,500 price point. Most of the top coins by market cap are seeing minor gains and losses on the day to pres time.

Bitcoin is trading around $6,752 to press time, up almost 3 percent over the 24-hour period. After a significant uptick starting June 30, the leading cryptocurrency continues to hold comfortably above the $6,300 resistance level, which Fundstrat’s Robert Sluymer earlier this week highlighted as crucial for reversing spring’s downtrend.

Top altcoin Ethereum (ETH) is trading around $477 to press time, up around 2 percent over the past 24 hours. The coin’s weekly high saw it trading at $483, and its gains on the week are now at 8 percent to press time.

On Coinmarketcap’s listings, the top ten coins by market cap are seeing mostly green with Cardano (ADA) the only outlier, down around 1 percent over the 24 hours and trading at $0.158 to press time.

Total market capitalization of all cryptocurrencies is at around $277 billion at press time, stable as of yesterday, and significantly higher than an intra-weekly low of $232.6 billion June 29.

As the markets consolidate their late June rebound, the risk of security incidents will need demonstrably robust responses to maintain public confidence.

The world’s largest crypto exchange, Binance - which has processed over $1.5 billion in trades over the last 24 hours - has now resumed services after irregular patterns for Syscoin (SYS) trades prompted an emergency temporary suspension yesterday, July 3.

While exact details remain undisclosed, the incident appears to have seen Syscoin trading for a staggering 96 BTC (around $640,000) on the exchange. Binance has now rolled back all the irregular trades, and also announced a series of measures to protect its users.

Bullish news for blockchain technology meanwhile has seen a UK government minister today call on the state to “show leadership” by “using blockchain to enable social freedom, to increase efficiency, and to rebuild societal trust.”

Best Regards

Gaurav