The selloff has settled for now as BTC bounced and found support around 6,500 and its current immediate resistance is around 7,300. If price is able to break and hold above this current range, BTC might test towards the 7,500 - 8,000 level. Otherwise, tread in the market with caution as this could be a possible new lower high before another leg down (daily chart).
Global market cap is at $197B, while BTC's market cap is at $130B.
Gladius Network LLC, a crypto startup that settled with the US SEC in February over its 2017 initial coin offering (ICO), has ceased operations. Part of the settlement was for Gladius to refund investors that participated in the $12.7 million ICO sale, and that the SEC would impose no penalty because the firm self-reported their sale. They announced their closure via their Telegram channel, saying "Despite our best efforts, the company no longer has funds to continue operations. We regret to inform you that Gladius Network LLC has ceased operations effective immediately."
Travala, a service that allows its users to pay for hotel stays with cryptocurrency, enables its customers to reserve any hotel that is bookable via Booking.com. Travala has already integrated Booking's accommodations to its platform. The new feature will purportedly allow users to book 90,000 different destinations using cryptocurrencies. Up to 20 major cryptocurrencies will be accepted by the platform
China has continued the reversal of its stance on Bitcoin and crypto exchanges, restating its position on crypto trading, and calling for the immediate removal cryptocurrency exchanges. This was after several weeks of a very positive attitude being displayed towards blockchain technologies. The catalyst for this sudden reversal seems to have started with a "crackdown" concerning some confusing reports of a police raid on two Shanghai-based exchange offices of Bithumb and Binance. This was almost instantly debunked by Binance CEO, Changpeng 'CZ' Zhao.