Bitcoin has broke down the  $7,300 support in the weekly and daily chart. In the weekly chart, BTC  is showing a clean structure as it breaks the 50 MA since its previous  huge rally last May. Next key support for BTC is around $5,800 - $6,000.  In the daily chart, there are still no signs of strength with huge  selling volume and red candles. If price fails to hold the 6k level,  selloff continuation is likely. Otherwise, a hold of that level would  give us a range market with $7,000 - $7,500 as possible resistance.

Global market cap is at $183B, while BTC's market cap is at $121B.

*  BCB Blockchain, a Singapore-based blockchain firm, has committed  $300,000 to support incubators and startup accelerators under the  Philippines' Department of Science and Technology (DOST). The joint  initiative aims to facilitate the development of local startups focused  on creating smart city projects and applications. The company has also  partnered with a range of local universities and educational  institutions to contribute to the research and development of other  blockchain projects, and to collaborate on promotional activities, hackathons, tech fundraisers, and such.

* Bakkt is set to launch its Singapore-listed bitcoin futures contracts on Dec. 9. In  a blog post on Thursday (Nov. 21), ICE announced that the contracts  will be listed on ICE Futures Singapore and cleared by ICE Clear  Singapore. The cash-settled contracts will be settled against prices of  Bakkt's physically delivered bitcoin futures contracts. The contracts  are sized at 1 bitcoin and settled in U.S. dollars.

The Philippines and BCB Blockchain will work together to facilitate the development of smart city projects in the country— Cointelegraph (@Cointelegraph) November 23, 2019

* After claims  from media outlet The Block that cryptocurrency exchange Binance's  Shanghai office was raided by Chinese police, company CEO Changpeng Zhao  (CZ) has vowed to sue over alleged false reporting.  The initial report was released last Friday, with CZ subsequently  asking for a public apology. The Block then released a follow-up piece  defending its stance, to which CZ responded with a promise to take legal  action instead. CZ is refuting the report that a raid was done, and  that Binance even has an office in Shanghai at all.

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