  Everything you need to make sense of the crypto markets and beyond By the CoinDesk Markets Team Edited by Lawrence Lewitinn, Managing Editor, Global Capital Markets July 7, 2021 Sponsored by  (Price data as of July 7 @11:00 UTC) If you were forwarded this newsletter and would like to receive it, sign up here.
Good morning, and welcome to First Mover. Here's what's happening this morning:
And check out the CoinDesk TV show "First Mover," hosted by Michael Casey, Emily Parker and me at 9:00 a.m. U.S. Eastern time. Today the show will feature guests:
– Lawrence Lewitinn
Biggest Movers These are the biggest movers in the CoinDesk 20 over the past 24 hours:
Gainers:
Losers:
The CoinDesk 20 are 20 digital assets filtered from the larger universe of thousands of cryptocurrencies and constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges.
Market Moves by Omkar Godbole  Bitcoin Price Consolidation May Be Nearing the End, Indicator Suggests Bitcoin may soon move out of its seven-week trading range of $30,000 to $40,000, with an indicator tracking the cyclical nature of price volatility suggesting a big move is overdue.
 Bitcoin's daily chart (Source: TradingView)
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Read the original story here:
Bitcoin Price Consolidation May Be Nearing the End, Indicator Suggests
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A message from AAX
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Make the most out of your crypto holdings. Grow with AAX.
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Technician's Take
by Damanick Dantes, CMT
Bitcoin Upside Stalls Near Resistance; Support at $33K-$34K
Bitcoin (BTC) held support around $34,000 on Tuesday, but buyers took some profit just shy of the $35,000-$36,000 resistance zone. The cryptocurrency is up about 2% over the past 24 hours and remains in a tight trading range.
Buyers could defend support levels and attempt to break the 50-day moving average around $36,000. A breakout from the trading range would yield further upside towards $40,000 as momentum improves.
Bitcoin hourly price chart shows short-term support and resistance levels with RSI (Source: TradingView)
- The relative strength index (RSI) is approaching overbought levels, which could encourage short-term profit taking.
- Initial support is seen around the $33,000-$34,000 range as buyers were able to maintain a series of higher price lows over the past week.
- The month-long consolidation and declining volume suggest a volatile price move could occur as traders await confirmation of a decisive breakout.
- Although the intermediate-term trend is improving, upside remains limited beyond $40,000 given strong overhead resistance and trend weakness.
Read the original story here:
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A message from Unique.One
Unique.One, a non-profit, next-generation, purely decentralized NFT Art Marketplace, supports artists rather than profiting from them. In celebration of the successful launch of its new auction platform, Unique One is sponsoring artists to mint gas-free. Any artist can mint one NFT on the Unique One Etherum v2 platform to enter. Winners will receive ETH for gas to mint 5 additional NFTs sponsored by the Unique One Community. Visit Unique.One Gas Free July for more details.
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BOLO
Be on the look out for some of these upcoming events:
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14:00 UTC (10:00 a.m. ET):
Job openings (May). Est: 9.3 million - 18:00 UTC (2:00 p.m. ET):
FOMC Minutes, Meeting of June 15-16, 2021
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The cryptocurrency movement has never been so sprawling, reaching every corner of the planet.
Crypto State by CoinDesk aims to connect with local communities to explore this movement of financial disruption and how it trickles down to every corner of the globe, from DeFi investment opportunities to alternative ways to transact and store wealth.
We're making virtual stops with audiences in Nigeria, the Middle East and Southeast Asia this year. Register for the Crypto State virtual tour.
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ICYMI
In case you missed it, here are the most recent episodes of "First Mover" on CoinDesk TV:
$70M Bitcoin Ransom Demand in New Ransomeware Attack, China Steps Up Anti-Crypto Rhetoric
"First Mover" dives into today's top stories, including the ransomeware attack against an IT company that has rippled through to hundreds of U.S. businesses and companies around the world. Plus, China's crackdown against the crypto industry continues, temporarily affecting bitcoin's price. Joining the show to discuss markets and other news are Esteban Castaño of TRM Labs, a blockchain intelligence firm; Nischal Shetty of WazirX, India's largest crypto exchange; and Cross Tower analyst Martin Gasper.
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The Investor's Perspective on the Bitcoin Taproot Upgrade
Taproot is a bundle of three upgrades to Bitcoin aimed at improving network security, privacy and scalability. At the same time, it poses some potential drawbacks to Bitcoin including risks of low adoption, unintended privacy shortcomings and Bitcoin community disappointment and fracturing.
CoinDesk Research's newest report dives into the economic impact and investment implications of the Taproot upgrade.
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Latest Headlines
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CoinMarketCap, Animoca Join Huobi's Public Blockchain as Validators
HECO is Huobi's answer to Binance's Smart Chain, having launched three months after BSC went live in September 2020.
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Ether Could Overtake Bitcoin as Store of Value, Goldman Sachs Says
While bullish on ether, Goldman denied cryptos' superiority to gold when it came to taking the top spot among safe-haven assets.
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Binance CEO 'CZ' Responds to Global Regulatory Pressure Calling Compliance a 'Journey'
"We are seeing wider adoption of cryptocurrencies globally and the need for clearer regulatory frameworks in different countries," said CZ.
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Binance Said to Be Hiring 'UK Version of Brian Brooks'
The crypto exchange is looking for a U.K.-based ex-regulator or government official, according to people familiar with the plans.
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China's Crackdown Is Forcing Miners to Dump GPUs on Secondhand Market: Report
The number of listings on China's most prominent marketplace apps has increased in the last month and a half.
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Reserve Bank of New Zealand to Consult on Potential CBDC
The bank is consulting on issues key to the future of how New Zealanders pay and save.
- Crypto.com branding will appear on the athletes' kit worn both in and out of the arena.
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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.
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