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Today’s Cryptocurrency Headline

Investment in VC-backed crypto companies slowed during the first half of the year, from a record $12.5 billion invested during last year’s first half to about $9.3 billion invested through the first six months of this year, according to Crunchbase data. On the other hand, deal flow has increased, as 534 deals were announced in the first half of this year, compared to 456 in the first half of last year. The Q2 numbers held strong. The second quarter saw more than $4.2 billion come to venture-backed crypto startups, about $1 billion less than the previous quarter and well off the record high of $6.1 billion hit in the fourth quarter of last year.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is up 1.49% over the last 24 hours and rose to an intraday high of $21,195.00. The largest cryptocurrency experienced another relief rally which set the price near the 20-day exponential moving average ($20,811), indicating the buyers remain active at this level. The relative strength index (RSI) has increased to 46, suggesting the bulls are building the upside momentum. If the price sustains above the 20-day EMA, the recovery could extend to the 50-day EMA ($23,5319).

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