Crypto news daily: Bitcoin data and price analysis for Wednesday, April 13, 2022

Buyers reacted to short-term oversold indications, pushing Bitcoin (BTC) back above $40,000 on Tuesday. Within its two-month range of $37,500 support and $47,000 resistance, the cryptocurrency could see more price fluctuations.

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BTC has remained mostly unchanged over the last 24 hours and is down 13% in the last week. For the time being, technical indicators suggest that the retreat will settle in the next few days.

On the daily chart, the relative strength index (RSI) is reaching oversold levels, indicating that buyers may continue aggressive moving into the Asian trading day. 

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Furthermore, positive momentum indications on the weekly chart suggest that this month’s pullbacks will be brief. At $50,966, there is more resistance, which could limit a price increase.

Bitcoin fear and greed index on Wednesday, April 13, 2022, went from the extreme fear level of 20 to the level of 25 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.   

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Bitcoin is currently trading at $40,100.98, up 0.13%. In the last 24 hours, the highest it touched was $40,617.59 and the lowest was $39,389.66. Bitcoin has a current market cap of $760,041,535,042. It has a circulating supply of 19,010,331.00 BTC coins and a maximum supply of 21,000,000 coins.

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CoinSwitch, WazirX block deposits via UPI

CoinSwitch Kuber and WazirX have disabled rupee deposits for the purchase of cryptocurrency using a widely-used state-backed transfer system, spurring users to voice concerns on social media. India has spent years on a law to ban or regulate cryptocurrencies, with its central bank backing a ban over their threat to financial stability, but a recent decision to tax income from them suggests acceptance by authorities. The decision follows a one-line statement last week by the National Payments Corporation of India saying, it was not aware of any crypto exchange using its United Payments Interface (UPI) framework, which eases bank transfers. On Wednesday, CoinSwitch’s app was not allowing users to load deposits, while rival exchange WazirX said on Twitter, “UPI is not available,” adding that it had no estimated time to fix the issue with UPI deposits.

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Binance and Whitebit offer support to Ukrainian refugees

Ukraine’s Minister of Digital Transformation Mykhailo Fedorov announced on April 8 that the world’s leading crypto exchange Binance is going to launch a charity crypto card for Ukrainian Citizens who have been forced to leave Ukraine and need support. The minister confirmed the news following a conversation with Binance’s CEO Changpeng Zhao, Bitcoin.com reported. Fedorov called the help offered by the crypto exchange a crucial help for Ukrainian citizens compelled to leave the country due to the Russian invasion. He said that Binance had already offered $10 million to Ukraine and would increase the amount to $20 million in the coming days. Crypto donations collected through Binance Charity would provide financial help to the humanitarian initiatives of major intergovernmental and local non-government organizations. Besides Binance, another European crypto exchange, Whitebit, has also pledged support to Ukraine by signing a memorandum of cooperation with the country’s Ministry of Foreign Affairs and announced it on its website on April 6.