Not much has happened throughout the day with price action but BTC is still holding well and getting closer to the 50 MA in the daily. In the daily, resistance remains at around $7,400 while immediate support is around $6,500 and 1st level of key support is around $6,000 - $5,800. With the current price structure, a swing high above $7,500 is still possible if price is sustained above the 50MA. Otherwise, a strong fall below the immediate support could lead price down to test key support levels forming a possible lower high.
Global market cap is at $198B, while BTC's market cap is at $125B.
Bitmain is giving out cash coupons to partially refund customers who bought its latest bitcoin mining machines prior to the recent price cuts. Buyers of its AntMiner S17+ and T17+ devices with delivery dates between mid-February and end of April will receive coupons worth $17 to $272 per unit. This reflects the impact of the previous month's decrease in price of BTC and the expected drop in mining revenue due to the upcoming halving in May. The coupons can only be used to purchase additional goods at Bitmain.
Screenshots of a purported pilot version of a wallet app for China's forthcoming digital yuan have been shared across social media. Ling Zhang, executive director of M&A, Global Fiat for Binance and who first shared the images, said that the app is available for download in four cities - Shenzhen, Chengdu, Suzhou, and Xiongan - as part of the app's trial run.
Many are saying that this will be the ultimate surveillance tool once fully implemented. Once they can identify, monitor, and censor every financial transaction in the system, they are one step closer to total authoritarian control.
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