Bitcoin hasn't quite moved and still within the resistance area. Analysis remains; $10,000 seems to be a psychological level of resistance, a break and hold above $10,000 could push price to retest key areas of resistance in the macro timeframes. Meanwhile, immediate support remains at $9,200 and a break below this level could invalidate bull scenarios.
Global market cap is at $267B, while BTC's market cap is at $179B.
The Iranian government included channels to cryptocurrency markets in the "currency smuggling" and foreign exchange regulations. According to Iranian news outlet ArzDigital, the recent inclusion of cryptocurrency markets in the said regulation was published this week. The prospective regulation increases the risk for Iranian entrepreneurs being jailed by local authorities or sanctioned by Americans.
Current regulation states that Iranian crypto exchanges must be licensed by the Central Bank of Iran and follow legacy currency exchange guidelines. It remains unclear how the licensin would apply to global crypto communities as the legacy guideline was initially made for foreign fiat currencies.
One of the world's largest derivatives exchanges, BitMEX, briefly went offline at around 12:13 UTC, with the exchange claiming a 'major outage' took their trading engine offline. After an update that assured that "all funds are safe, delayed orders will be reject, and no liquidations will occur during downtime," BitMEX went back online shortly after. This incident comes just a few days after BitMEX got hit with a major lawsuit accusing them and their top executives of racketeering, money laundering, wire fraud, and operating an unlicensed money transmitting business.
Steem is moving to freeze $5 million in tokens held by Steemit stakeholders who are opposed to Justin Sun's takeover and who supported the Hive hard fork in March. The Hive hard fork is a community led-fork that froze the founder's reward Sun acquired alongside Steemit, excluding him for the new network. Network validators, called 'witnesses,' associated with Justin Sun have moved to freeze 23.6 million STEEM tokens via another hard fork, accusing the holders of posing an existential threat to the Steem network. The hard fork follows a soft fork that froze 17.6 million STEEM held by former witnesses last month.
Targeted users of the freeze are looking to mount a class-action suit and urging exchanges not to implement the hard fork.
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