TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
|

Bitcoin Technical Analysis: BTC/USD almost drops to $9,000 after Twitter hack

  • Binance, Coinbase, Elon Musk, Bill Gates, all got their Twitter accounts hacked.
  • The attacker or attackers posted Bitcoin scam messages and managed to steal around $120,000.
Bitcoin Technical Analysis: BTC/USD almost drops to $9,000 after Twitter hack
Lorenzo StroeLorenzo StroeIndependent Analyst

Bitcoin saw a decent drop towards $9,000 but recovered quickly. The Twitter hack was unprecedented as dozens of high-profile accounts got hacked at the same time. Barack Obama, Joe Biden, Kanye, Elon, and many others posted the same Bitcoin scam message, however, the attacker only managed to steal around 13 Bitcoins total. 

This sum is simply not large enough to cause any problems in the crypto market and the drop was mostly a fakeout. 

BTC/USD daily chart

btcusd

Bitcoin is now way below the 12-EMA for the first time in the last few weeks. This is notable but the bulls still have time to close above it in the next few hours. The $9,000 level remains as the most crucial support point.

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
Share:

Editor's Picks

Ripple defends 50-day EMA as Standard Chartered launches RLUSD custody

Ripple defends 50-day EMA as Standard Chartered launches RLUSD custody

Ripple is coming under intense selling pressure, trading around $1.40 on Monday. The remittance token appears to lack the required tailwind to sustain its recovery, while broader crypto market headwinds weigh on price action.

NEAR Protocol rally stalls below $6 amid firm ETF inflows

NEAR Protocol rally stalls below $6 amid firm ETF inflows

NEAR Protocol is down 3% at press time on Monday, ticking lower after rallying 30% over the last three days as buying pressure eases. The recovery aligns with Bitwise’s NEAR-focused ETF recording its second weekly inflow of over $13 million last week.

Bitcoin struggles as ETF outflows, geopolitical uncertainty weigh

Bitcoin struggles as ETF outflows, geopolitical uncertainty weigh

Bitcoin steadies around $83,600 at the time of writing on Monday, after a 3.1% decline last week. Institutional demand shows weakening signs, with spot ETFs recording $681.10 million in net outflows last week, ending a three-week streak of inflows.

Crypto Today: Bitcoin, Ethereum and XRP face recovery headwinds as ETF outflows weigh

Crypto Today: Bitcoin, Ethereum and XRP face recovery headwinds as ETF outflows weigh

Cryptocurrency prices are broadly consolidating on Monday, with select tokens such as Ethereum slowly edging higher above $2,500. Bitcoin holds above $84,000 as bulls battle seller congestion, while Ripple consolidates around $1.40.

Bitcoin: Uptober or Rektober?

Bitcoin: Uptober or Rektober?

Bitcoin (BTC) price is down over 4% so far this week, trading below $83,000 at the time of writing on Friday as mounting selling pressure threatens to derail the seasonal “Uptober” rally. Profit-taking, a surge in long liquidations and weakening demand from institutional investors are weighing on BTC.