Bitcoin (BTC) just had a range breakout from its pennant structure last night; breaching the 12k resistance. Today, price took a breather and is currently trading above 12,200. BTC is not out of the woods yet as it remains to be seen whether 12k will hold as a potential support (role reversal from being a previous key resistance). If 12,000 level holds, there could be a continuation of its leg towards next resistance levels - ranging from 13,000 - 14,000. Otherwise, breakout is invalidated if price breaks below 11,800.
Global market cap is inching closer to the $400B mark and is currently at $383B, while BTC's market cap is also gradually increasing - now at $226B.
After Bitcoin reached a new yearly high today of $12,470, its market cap is now greater than Bank of America's (BoA) and the New Zealand dollar (NZD). BTC's current market cap is over $226 billion, while BoA's market cap took a small hit and fell to $224 billion - this now puts BTC as the 25th most valuable asset by market capitalization according to AssetDash, just behind PayPal at $230 billion. According to FiatMarketCap, a site that tracks BTC against major fiat currencies, BTC's market cap puts it as the 34th most valuable of all fiat currencies.
Two men have been arrested by Bulgarian authorities for illegally funneling electricity worth $1.5 million to operate two crypto mining farms. According to Bulgaria Today's report, the two men are now detained for stealing electricity to mine Bitcoin (BTC) in Kyustendil, a small town in Bulgaria. The evidence suggests that the mining equipment had been running for more than a year.
The two suspects were detained for 24 hours and released as they await trial.
Grayscale Investments, the asset manager behind the world's largest Bitcoin trust, has announced that its Bitcoin Cash Trust and Litecoin Trust are eligible for deposit at the Depository Trust Company (DTC), the largest securities depository in the world. By clearing the bar to deposit at the DTC, Grayscale also happens to clear a Nasdaq and New York Stock Exchange (NYSE) listing requirement. The Bitcoin Cash Trust, or BCHG, and the Litecoin Trust, or LTCN, will now be available on over-the-counter markets.
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