Friday, December 6, 2024
spot_img

Here’s what happened in crypto today

Share

spot_img
spot_img

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

According to a new report by ARK Invest, Bitcoin was significantly oversold after the German government offloaded billions’ worth of confiscated BTC. A global Microsoft Windows ​​failure, possibly linked to a CrowdStrike software update, has disrupted critical services worldwide. Meanwhile, the WazirX exchange hacker has converted nearly $150 million of altcoins to Ether — a move likely to avoid getting funds frozen or blacklisted. 

Bitcoin could recover from oversold levels: ARK Invest

Asset manager ARK Invest says Bitcoin 

BTC

$66,855

 became significantly oversold in June after the German government initiated a multiweek sell-off of 50,000 BTC that was seized in a 2020 police sting. That means a price reversal is likely. 

The asset manager also said that Bitcoin miners are in capitulation mode, which is a sign that the downtrend is about to reverse. 

“Based on short-term-holder realized profits/losses and miner outflows, Bitcoin appears oversold,” ARK said in its report, which focused on the period through June 30 but includes more recent data. “Current levels [of miner outflows] suggest that miners are capitulating, a harbinger of a bullish reversal.”

Adding to the bullish momentum is the fact that spot Bitcoin exchange-traded funds accumulated capital during the sell-off, a sign that institutional investors weren’t behind the negative price action. 

The price of Bitcoin has rallied sharply this week. On July 19, the largest cryptocurrency traded above $67,200, according to data.

Microsoft Windows data blackout downs major financial firms, causes travel chaos

The Big Tech giant Microsoft is facing a widespread outage of its Windows systems, which has subsequently disrupted various critical services across the globe, including emergency services, banks, airports and broadcasters. 

The failure, which began in the late hours of July 18 and continued into the following day, appears to be linked to the cybersecurity software of CrowdStrike, according to a Forbes report. It has left many institutions grappling with severe operational challenges.

Microsoft 365 Status posted that it was investigating an issue “impacting users ability to access various Microsoft 365 apps and services.”

The banking sector has been one of the hardest hit by this Windows failure. Online banking services have been particularly affected, with customers worldwide reporting issues with logging in and performing transactions.

Nonetheless the crypto community has wasted no time in jumping on the opportunity to make something of the situation.

Since the start of the incident, a flurry of new memecoins related to CrowdStrike, the alleged cause of the Microsoft outage, and the Microsoft “Blue Screen of Death” (BSoD) error screen have been issued on Ethereum and Solana networks.

WazirX hacker funnels $149 million of SHIB, MATIC other altcoins into ETH

The hacker behind the $235 million exploit of cryptocurrency exchange WazirX has converted nearly $150 million of altcoins to Ether — a move likely to avoid getting funds frozen or blacklisted.

The mass conversion of funds to Ether across July 18-19 included $90.2 million worth of Shiba Inu 

SHIB

$0.000018

, $10.2 million in Polygon 

MATIC

$0.5340 and nearly $7.5 million in Pepe (PEPE), according to blockchain analytics firm Spot On Chain.

The transfers have now brought the total amount of stolen funds sitting in Ether 

ETH

$3,498

 to $201 million, up from $52 million initially.

“Swapping to Ether quickly can help the hacker secure their funds before any preventative measures are taken by authorities or the issuers of centralized tokens,” blockchain security firm PeckShield.

Source:- COINTELEGRAPH

Marika Aros
Marika Aros
I’m Marika Aros, a dedicated freelance marketing specialist With 5 years of hands-on experience in the dynamic realm of digital marketing, I specialize in crafting compelling press releases, designing eye-catching banner ads, developing engaging sponsored posts, writing detailed review articles, conducting insightful interviews, and orchestrating successful events.

Why Low Spreads Are a Game-Changer for Intraday Traders

Are you an intraday trader looking for techniques to increase your profits in the fast-paced forex market? If so, it’s possible that the realization...

Read More

Crypto News