Bitcoin is on track to retest resistance levels. In the daily, price is now hovering the middle part of the range and is currently trading above 11,900. The current structure shows that the range is maintained and there's a likely chance of price touching the 12k mark again. Key resistance remains intact at around 12,400, while key support is around 11,000 - 10,900. On the other hand, US Dollar Currency Index (DXY), continues its gradual decline and has reached a new low below 92 - it remains to be seen whether DXY can get a bounce above 92 as 1D candle isn't closed yet.
Global market cap is at $386B, while BTC's market cap is at $219B.
Malaysian officials in the state of Johor have shut down two crypto mining operations which had stolen over $600,000 worth of electricity over three years. Malaysia's Energy Commission, power utility firm Tenaga Nasional Berhad (TNB), and local officials arrested several individuals in the city of Iskandar Puteri, after mining operations siphoned almost $20,000 worth of electricity per month. One of the mining farms had 100 rigs operating nonstop for three years, and the other had 48 rigs operating for two years. The owners only paid $7-14 monthly for electricity.
The individuals behind the illegal mining operations may face ten years in jail or a maximum fine of $240,000 if found guilty.
Binance Charity and the Integro Foundation have raised $1 million to donate personal protective equipment (PPEs) to frontline workers. A total of 500,000 KN-95 masks will be distributed to workers in the Brazilian Amazon, Argentina, Chile, Mexico, Venezuela, Peru, Ghana, Nigeria, South Africa, Bermuda, Barbados, St. Lucia, Haiti, Bahamas, the Dominican Republic, the Navajo nations, Russia, and Puerto Rico. This initiative is part of the Crypto Against COVID campaign.
Atupri Health Insurance, major health insurance provider in Switzerland, is now accepting Bitcoin and Ether as a payment method. According to an announcement on Aug. 31, the insurance company has partnered with crypto financial services company Bitcoin Suisse for this new feature. Atupri will not be holding the digital assets itself but will just be receiving fiat payments in Swiss francs after crypto payments have been exchanged by Bitcoin Suisse. Caroline Meli, Head of Marketing and Sales at Atupri, said that importance of using blockchain technology and cryptocurriences are increasing.
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