There was no significant price movement over the weekend as price managed to hold around the 10 EMA. Price is currently trading above 10,600 and structure in the daily is leaning toward a potential retest of the 50 MA. It remains to be seen how BTC is going to behave in the next days - if it could pull off a successful retest of the 50 MA. A sustained break above the 50 MA could push price to another leg with next potential target around 11,500. Otherwise, failure to hold within 10,300 - 10,100 could ultimately bring price to key support level. Key resistance sits around 10,900 - 11,000.

Global market cap is at $341B, while BTC's market cap is at $197B.

Estonian central bank to conduct digital currency research
They’re following other central banks, including the European Central Bank, into studying virtual currencies

The Estonian central bank, Eesti Pank, announced the launch of a research program to study how to build a digital currency infrastructure, with aims to look into a keyless signature infrastructure (KSI) blockchain solution to run its virtual currency program, and to look into new payment solutions. The project will consist of several phases and will last about two years, with the first phase being a study on how to build a scalable, practical, and secure platform that meets the requirements of digital funds. Speed, security, privacy, and resilience will be the focus of the platform.

ECB intensifies its work on a digital euro
The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency.

The European Central Bank (ECB) has released a report on Oct. 2 regarding its considerations in studying the digital euro by mid 2021. The report included details of how the digital euro may impact retail payments and how it can
protect payments in the future but didn't specify the model ECB should use on the project. Technical and organizational models have also been discussed in the report. The ECB emphasized that it wants to create discussion about digital currencies with other stakeholders.

According to ECB President Christine Lagarde, the Eurosystem has not made a decision whether to release the digital euro, but Lagarde is supportive of the project and said that it is not a replacement for fiat.

KuCoin CEO Says Suspects in $281M Hack Identified; Authorities on the Case - CoinDesk
The CEO of the hacked South Korean crypto exchange says suspects in the hack have been identified.

KuCoin hack investigation has progressed and have involved law enforcement. According to KuCoin CEO Johnny Lyu's tweet on Oct. 3, the exchange now has material evidence in the identification of the hackers who compromised the exchange's service on Sept. 26. In addition, KuCoin has managed to recover assets worth $64 million from suspicious addresses with the help of its partners. The total value of recovered assets is now amounting to $204 million.

The KuCoin hack is reportedly the first major case of a decentralized exchange being used to launder funds. Around $200 million in assets were stolen, but analysts are saying there could be more tokens that have been compromised.

This Daily Dose was brought to you by SCI News Channel.

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