Extreme volatility stopped the party for BTC as price gets dumped as low as 9,300 (around -8% drop) after hitting the key resistance level around 10,000. In the daily, we can see price is now hovering within the immediate support and 10 EMA is also holding the price around 9,300 - 9,500, while key support is around 8,600 - 8,500. Looking inside the 4H chart, 50MA is currently acting as a trail support and failure to hold this trail support could push price down further to test the key support level.
Global market cap is at $269B, while BTC's market cap is at $175B.
BTC experienced extreme volatility yesterday affecting both bulls and bears as price failed to hold the five-figure price level. According to a report by Cryptometer, BitMEX recorded a total of $223 million in liquidations evenly spread between longs and shorts. A little over $111.5 million (50.04%) of total liquidations were represented by longs, while $111.3 million (49.96%) were shorts.
The sudden price crash triggered outages on some of the top exchanges as users reported overloads on BitMEX which caused slippage as low as $8,600 on the platform.
According to an article on Bloomberg, payments giant Western Union have recently made a takeover offer for MoneyGram. If successful, this would combine two of the biggest money-transfer companies in the United States. MonyeGram is currently partnered with Ripple for cross-border payments, but reported a "quiet" first quarter for 2020.
MoneyGram has a market cap of approximately $155 million, while Western Union is valued at around $8.2 billion.
28 blockchain, technology and financial organizations around the world launched the InterWork Alliance, a nonprofit organization aimed at bringing global tokenization standards. The IWA includes Microsoft, Chainlink, Hyperledger, IBM, Nasdaq, Accenture, among others.
The Alliance plans to work on three different frameworks of global standards for tokenized ecosystems - the Token Taxonomy Framework which will provide a common language and toolset so multiple parties can agree on the terms that define a token and its use, the InterWork Framework which will help businesses compose multiparty contracts from standard clauses set by the IWA, and lastly, the Analytics Framework, which will help businesses analyze multiparty contracts and use artificial intelligence services and market-driven data reporting.