BTC broke out of its immediate resistance and closed previous day's candle at 9,685. Today, there was no immediate continuation of the recent rally when the day's candle opened but it remains to be seen whether there will be a continuation and retest of the key resistance area this week. Key levels remain the same with resistance around 10,300, while key support is around 8,600 - 8,500. A successful break and hold above 9,600, is a possible confirmation for momentum. While a break below 9,100 - 9,000, could push price down to 8,600 - 8,500 (key support).
Global market cap is at $272B, while BTC's market cap is at $176B.
Tracking service Whale Alert has spotted Crypto ponzi scheme PlusToken has reportedly moved 26,316,339 EOS tokens (worth over $67 million) to an anonymous wallet address created in less than 24 hours. The transaction is a possible dump on EOS and was spotted by Whale Alert earlier today. According to Cointelegraph, similar movements in the past from wallets associated with PlusToken have been followed by suspected massive market moves.
PlusToken is one of the largest scams in cryptocurrency history, the group reportedly held almost $3 billion worth of assets including Bitcoin (BTC), Ethereum (ETH), and EOS.
The Philippines Department of Finance (DOF) has issued a warning against the alleged crypto Ponzi scheme Bitcoin Revolution, accusing them of impersonating the country's president, as well as its finance and treasury officials. Bitcoin Revolution has been using the name of Secretary of Finance Carlos Dominguez III to promote a fake "cryptocurrency auto-trading platform," and have been spreading fake news via an article that claims that the government created a platform called "Bitcoin Lifestyle," that issued a fake statement by President Rodrigo Duterte.
Previous warnings from the Philippines Security and Exchange Commission (SEC) about Bitcoin Revolution reports that the Ponzi scheme targets mostly Filipino, Australian, and European investors.
The Italian Banking Association (ABI) has approved guidelines governing its position on digital currency and central bank digital currencies (CBDCs), revealing that it would be willing to support the implementation of a CBDC from the European Central Bank. The ABI, which represents a group of banks in Italy, stated that it was ready to "participate in projects and experiments regarding a digital currency from the European Central Bank to speed up the implementation of a European-level initiative."
The ABI noted that the development of a digital currency in the EU could replace the demand for cryptocurrencies, and that a CBDC would allow for a greater number of cross-border P2P transactions, lessen the impact of the interest and exchange rates, and reduce the size of the bureaucratic process for payments.
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