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Share link:In this post: XRP drops 4% after failing to sustain a breakout above $2.50, with support at $2.30. The RSI remains neutral as market uncertainty continues. Key US inflation reports this week, including CPI and PPI, may influence Fed policy and impact high-risk assets like crypto. Bitcoin and gold broke their inverse relationship with the S&P 500, while the insurance stock fall due to LA wildfire losses could boost crypto interest.
Solana's price is down 20% this week, facing strong bearish momentum. While supports are under threat, a potential rebound could aim for $203.
Bitcoin offset its meagre inflation with massive increase while US DXY increased by just 12% with compound inflation hitting 20%.
MicroStrategy has purchased another 2,530 BTC for approximately $243 million at an average price of $95,972 per bitcoin.The latest acquisitions follow the sale of MicroStrategy shares equivalent to the same amount.
It still needs to consolidate for a while to form a structure resembling a relative bottom.
- 22:43BTC Surpasses 108,000 USDAccording to Jinse Finance, market data shows that BTC has surpassed $108,000 and is currently quoted at $108,014.89. The 24-hour decline has narrowed to 1.64%. Given the significant market volatility, please ensure proper risk management.
- 22:18Turkey bans PancakeSwap over unauthorized cryptocurrency activitiesAccording to a report by Jinse Finance, the Turkish Capital Markets Board (SPK) has announced a ban on the decentralized exchange PancakeSwap, citing its unauthorized provision of crypto asset services to Turkish residents. This action was carried out in accordance with relevant provisions of the Capital Markets Law. The ban is part of a broader crackdown on unlicensed platforms, involving more than 60 crypto and forex websites in total.
- 21:53SIM swap attacks rampant, causing nearly $50 million in crypto asset lossesAccording to FBI statistics, there were over a thousand SIM swap attacks in 2023, resulting in nearly $50 million in losses. Scammers impersonate the phone owner to trick mobile carriers into swapping SIM cards, intercepting SMS verification codes to steal funds from crypto wallets. Notable cases include Iterative Capital co-founder Brandon Buchanan, who lost $450,000 worth of Bitcoin to such a scam. Experts recommend using app-based authenticators instead of SMS for two-factor authentication. High-risk users should set up a dedicated phone number for two-factor authentication and use different email addresses to register for various services. Institutions can adopt multi-signature wallets and blockchain risk control tools (such as Crystal Intelligence) to monitor transactions in real time and intercept anomalies, reducing the risk of asset theft.