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Daily Dose: Breaking News!

Bitcoin has broke down the $7,300 support in the weekly and daily chart. In the weekly chart, BTC is showing a clean structure as it breaks the 50 MA since its previous huge rally last May. Next key support for BTC is around $5,800 - $6,000. In the daily chart, there are still no signs of strength with huge selling volume and red candles. If price fails to hold the 6k level, selloff continuation is likely. Otherwise, a hold of that level would give us a range market with $7,000 - $7,500 as possible resistance.

Global market cap is at $183B, while BTC's market cap is at $121B.

* BCB Blockchain, a Singapore-based blockchain firm, has committed $300,000 to support incubators and startup accelerators under the Philippines' Department of Science and Technology (DOST). The joint initiative aims to facilitate the development of local startups focused on creating smart city projects and applications. The company has also partnered with a range of local universities and educational institutions to contribute to the research and development of other blockchain projects, and to collaborate on promotional activities, hackathons, tech fundraisers, and such.

* Bakkt is set to launch its Singapore-listed bitcoin futures contracts on Dec. 9. In a blog post on Thursday (Nov. 21), ICE announced that the contracts will be listed on ICE Futures Singapore and cleared by ICE Clear Singapore. The cash-settled contracts will be settled against prices of Bakkt's physically delivered bitcoin futures contracts. The contracts are sized at 1 bitcoin and settled in U.S. dollars.


* After claims from media outlet The Block that cryptocurrency exchange Binance's Shanghai office was raided by Chinese police, company CEO Changpeng Zhao (CZ) has vowed to sue over alleged false reporting. The initial report was released last Friday, with CZ subsequently asking for a public apology. The Block then released a follow-up piece defending its stance, to which CZ responded with a promise to take legal action instead. CZ is refuting the report that a raid was done, and that Binance even has an office in Shanghai at all.


Today's Daily Dose is brought to you by our partner SCI News Channel.

 

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