Crypto Today: Bitcoin bulls return with brief jump above $7000
Here's what you need to know on Thursday
Markets
BTC/USD is currently trading at $6900 (+8.25%), a surge of momentum came into play following a critical range breakout.
ETH/USD is currently trading at $142 (+7.45%), smashed through a barrier of resistance, $130-$140, leaving door open to a $150 challenge.
XRP/USD is currently trading at $0.1795 (+5.20%), life kicks back into the bulls attempting to break down $0.1800.
Among the 100 most important cryptocurrencies, the best of the day are DGTX $0.037538 (+23.80%), BCN $0.000243 (+23.65%) QNT $4.66 (+17.15%) The day's losers are MKR $296 (-4.42%), MIOTA $0.148497 (-3.55%), WAVES $0.096457 (-0.30%).
Chart of the day: BTC/USD 60-minute chart (pennant breakout)
Market
The amount of Bitcoin (BTC) held by crypto exchange BitMEX has fallen by 25% in the past few weeks. Following the crypto market drop on March 12, Bitcoin (BTC) fell 50% from a price over $10,400 on March 12. There were mass liquidations on BitMEX were believed to play a big role in the crypto crash. Ever since, the amount of Bitcoin held on the platform has decreased significantly. According to data collected by CoinMetrics, on March 13, BitMEX held approximately 315,000 BTC. This number has dropped to 244,000 BTC as of March 29.
Regulation
The Financial Action Task Force (FATF) has rated the U.S. “largely compliant” with its revised criteria for preventing money laundering and terrorist financing (AML/CTF) through digital assets.
A New York judge has ruled that the injunction barring Telegram from issuing its Gram tokens extends to all entities in the United State and overseas. On April 1, U.S. District Judge P. Kevin Castel, responded to the encrypted messaging firm’s request for clarification as to the scope of the court’s March 24 preliminary injunction. He denied Telegram’s move to distribute tokens to the non-US-based participants of its 2018 initial coin offering (ICO).
Industry
A malicious botnet has been targeting Microsoft SQL database servers to mine cryptocurrency for two years, according to a new report. Guardicore Labs said that in the last several weeks alone, the hackers had managed to infect close to 2,000 to 3,000 servers daily. As reported by Hacker News, the botnet has been dubbed “Vollgar” after the vollar cryptocurrency it mines alongside monero (XMR), and its “vulgar” way of operating.
An Indian cryptocurrency exchange, BuyUcoin, has just received a license to expand internationally, according to a report from Business Standard.
The world’s largest digital asset exchange by traded volume, Binance is set to further expand its crypto finance offering with the launch of a mining pool. Revealed on Wednesday by Changpeng Zhao, founder and CEO of the exchange, on Twitter, this an addition to Binance’s finance suite which includes stalking, savings, earning, and loans.
A crack team of cybersecurity experts in 65 countries has come together to combat ransomware attacks on hospitals during the coronavirus crisis. Calling themselves the COVID-19 CTI League the community of experts aims to protect the technological infrastructure of front-line medical resources from cyberattacks.
Quote of the day
Bitcoin is a necessity, because money is a necessity, and fiat currencies are broken.
@Bitcoin
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
