After several tests and  retests of the support at $7,700, Bitcoin finally broke down and is now  trading at around $7,450. Bears have firmly taken control of price  action and may look for even more room at the bottom as shorts continue  to pile up. Technical indicators all show bearish momentum, with RSI  barely avoiding oversold levels, long-term MAs crossing over all the  short- and medium-term ones, and volume showing that the market is  agreeing with the move and overall sentiment. Bulls have to defend new  key supports at around 7,200 - 6,700, else we might see an even bigger  drop to low 6k levels. Old-support-turned-new-resistance is now at  7,700.

Global market cap has dipped to $206B, while BTC's market cap is at $135B.

Rep. Maxine Waters: I don't support Libra at all at this point— Cointelegraph (@Cointelegraph) October 24, 2019

​* Facebook CEO and  Founder Mark Zuckerberg delivered his testimony in a congressional  hearing before the House of Representatives Financial Services Committee  on Oct. 23. Libra was the main focus of the agenda. Zuckerberg stressed  that if Libra Association launched Libra prematurely without all the  needed regulatory approvals, Facebook would be forced to pull out of the  Association. However, US lawmakers were not convinced.

The Bakkt Bitcoin Options contract will be based on the benchmark Bakkt Monthly Bitcoin Futures contract and represents another important step  in developing this asset class for institutional investors— Bakkt (@Bakkt) October 24, 2019

* Bakkt's  Bitcoin (BTC) futures hit a new all time high with 452 BTC futures contracts traded. According to the historical data from Intercontinental  Exchange (ICE), the platform has traded 441 Bitcoin futures contracts  for November 2019, last price traded at $7,400. 11 futures contracts for  December, last price traded at $7,407. They recently announced Bitcoin  futures options to be launched by the end of this year.

* The first Paxful Meetup is happening tonight! Paxful's first community meet-up in Manila! The Paxful Marketplace is a P2P Bitcoin marketplace that uses hundreds of different payment methods to buy and sell bitcoin. Join the local community for some Beer, Wings, and Bitcoin at Blockchain Space PH's venue in Makati, Metro Manila.

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