Bitcoin (BTC) is on track to test 50 MA resistance as price was able to hold the 10,600 level over the weekend. Today, price reached a high around 10,900 during the AM session and is currently trading above 10,800. It remains to be seen if price is able to get back above the 11,000 level or 50 MA area this trading week. Should price be able to successfully reclaim the 11,000 area, the next potential stop is around 12,000. Immediate support and key support sits around 10,600 and 10,100 - 9,800, respectively - failure to hold these levels could trigger invalidation.
Global market cap is at $348B, while BTC's market cap is at $201B.
KuCoin has been a victim of a major hack on September 26, with KuCoin Global CEO Johnny Lyu confirming the theft. Reports estimate the loss at over $200 million in crypto. The breach affected the firm's Bitcoin (BTC), Ethereum (ETH), and ERC20 hot wallets after private keys were leaked. Bitfinex and Tether quickly froze $33 million worth of USDT linked to the hack as a precaution, and authorities subsequently also froze an additional 2 million of USDT.
Ocean Protocol (OCEAN) have also reportedly frozen 21 million OCEAN tokens, worth roughly $7.8 million. KuCoin also coordinated with VIDT_Datalink to freeze and recover $14 million of the stolen 14.49 million VIDT tokens, as well as worked with Covesting to freeze and recover $560,000 COV tokens. Several other token projects have also provided different solutions in order to nullify the hack, including Silent Notary (SNTR), Orion Protocol (ORN), Velo Labs (VELO, Kardiachain (KAI), and Aleph (ALEPH). However, the hackers got away with 540,000 Synthetix (SNX) tokens, worth roughly $2.7 million, with further investigations on the rest of missing funds still to be made.
According to ChartBTC, Bitcoin has already reached the 18.5 million BTC mark in circulation. This means that there is only almost 2.5 million BTC or 11.9% left to be mined as the total supply is capped at 21 million Bitcoin (BTC). ChartBTC also shared that half of the ~2.5 million BTC remaining will be mined in the next four years as halving of supply occurs every four years and it's expected that no new Bitcoin can be mined after year 2140.
Institutional demand for Bitcoin (BTC) has been gradually increasing this year including the world's largest sovereign wealth fund owning 577.6 BTC through investment in MicroStrategy.
Russian telecom regulator Roskomnadzor has added Binance to its list of prohibited websites in the country due to distribution of data related to the acquisition of digital currencies like Bitcoin (BTC). Despite the Binance website being placed on the list of prohibited websites, Russians can still access it without any additional tools like a VPN, even though the URL can be found on the official register of blacklisted sites of Roskomnadzor.