Market overview

The crypto market capitalisation has risen by 1.3% over the past 24 hours to $2.18 trillion. With no fresh downward momentum, bears are taking profits, while some investors view the situation as a good opportunity for long-term positions. On daily timeframes, the RSI is recovering and entering neutral territory after the most severe oversold conditions since 2020. Among the top-performing coins of the day were BAT (+13%), NEAR (+7%) and ZEC (+6.5%). The underperformers were BCH (-6.1%), TRX (-0.6%) and UNI (+0.2%). 

Bitcoin rebounded to $63.2K, moving away from Friday’s lows of $59K. Technically, a recovery up to $68K could be viewed as a rebound from the downward momentum seen between 11 May and 5 June. On the other…