Bitcoin (BTC) picked up some good momentum yesterday as price broke out of its trendline resistance in the 4H chart and ultimately broke out of its immediate range in the daily. Currently, price structure is strong and still trailing above the 10 EMA in the 1D with price trading near 11,800. Targets are still intact with key resistance at around 12,000 - 12,300 while immediate support trails at around 11,200. The daily structure shows good probability of reaching the 12,000 mark and a successful breach of this mark could bring price to higher key resistance levels at around 13,000 - 14,000. However, bullish scenario could be invalidated if price fails to sustain the trend above the 10 EMA or around 11,500.
Global market cap is at $365B, while BTC's market cap is at $218B.
LINE, the Tokyo-based messaging platform, is building a platform for developing central bank digital currencies (CBDCs), according to South Korean news agency the Chosun Ilbo. LINE, which is also a subsidiary of the South Korean internet search engine Naver, aims to support the development of a so called "customized CBDC." While the company cannot disclose the exact countries that are considering the platform's application, it is reported that they are in discussion with several central banks in major Asian countries for the application of its blockchain-based CBDC platform.
Binance Jersey, subsidiary of Binance is shutting down operations. According to a Cointelegraph report, Binance will restrict deposits of pounds, euros and all supported cryptocurrencies on Oct. 31. After this, users will still be able to trade and withdraw their funds until Nov. 9. The final shutdown is scheduled on Nov. 30 - the exchange will be inaccessible after this date. In addition, latest CoinMarketcap data shows that Binance Jersey has a 24-hour trading volume of only $164,470 with BTC/EUR and BTC/GBP trading volumes at $76,597 and $46,974, respectively. While Binance Coin (BNB) has a trading volume of only $5,133 both for pound and euro pairs. No specific details were disclosed with regard to the shut down of exchange but the main exchange platform Binance.com will continue to provide services to citizens of Jersey.
Binance Jersey was launched on January 2019 with the aim to tap into European markets. The exchange supported fiat-to-cryptocurrency trading for European traders.
47,573 out of 50,000, around 95%, of the digital yuan lottery winners received and spent their "red envelopes" of digital yuan, China's central bank digital currency (CBDC). Shenzhen launched a pilot program to promote the digital yuan with a public lottery on October 9th, with the caveat that the organizers would take back the unused amount of the digital yuan packets if winners did not spend it by October 18th. According to the announcement by Shenzhen authorities, the winners conducted a total of 62,788 transactions accounting for 8.8 milion yuan ($1.3 million), with some winners not only spending their share, but also topping up their wallets, having purchased an additional 901,000 yuan ($134,000).
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