Cryptocurrency Market News: Bitcoin climbs above $10,700 after a significant breakout

Here is what you need to know on Tuesday 15, September

BTC/USD had a bullish breakout towards $11,000 after trading sideways for the majority of the past two weeks. 

ETH/USD also bounced from a low of $350 and it’s eying up $400 again. 

XRP/USD is trading at $0.246 but didn’t have any notable breakouts. Bulls are still trying to crack the $0.25 barrier. 

Chart of the day: BTC/USD daily chart

Market

The entire cryptocurrency market had a major turnaround in the past 24 hours after a strong U.S. stock market open. Indices like the Dow Jones or the S&P 500 had notable surges and most of the crypto market followed suit. 

Bitcoin had a notable breakout from a symmetrical triangle pattern formed on the 4-hour chart and the daily. If the digital asset can close above $10,600, bulls will have a great chance to confirm a new daily uptrend and push Bitcoin towards $11,000 and even $12,000 as there aren’t many resistance levels on the way up. 

Industry

The CEO of the biggest cryptocurrency exchange in the United States, Coinbase, has stated that Apple is stopping the platform from innovating further and ‘sidelining DeFi to protect itself from competition’. 

Here is the issue. Apple has told us we cannot add the following functionality in our iOS apps: (1) the ability to earn money using cryptocurrency and (2) the ability to access decentralized finance apps (sometimes called DeFi apps or Dapps).

Quote of the day

The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.

– Don & Alex Tapscott