▫️#BTC. The stock failed to consolidate above the resistance level at $45,700, causing the instrument to fall to the support trend line. The instrument touched the exponential moving average 21 EMA 4 H in the candle's shadow, heading for a renewed assault on resistance - $46,200, above which the bitcoin is currently trying to consolidate. On the four-hour timeframe, the price movement has formed the contours of the technical analysis pattern - "Bullish flag". If the formation and prolonged fixation is confirmed and bitcoin does not go beyond the lower boundary of the pattern, the price level in the range of $48,000 - $49,000 will be the model fulfillment target. On the other hand, there is a decrease in trading volumes when the price rises, which indicates weak buying pressure and a likely decrease in the asset after an attempt to storm new resistance levels. In case bitcoin fixes above $46,200, the asset will head towards the 0.5 Fibonacci correction level ($47,000).
▫️#ETH. Ether is trading above the support level of $3175, with the next significant resistance around $3375. The value of the asset in pair to #BTC increased by 1.5% over the past 24 hours.
▫️Hackers hacked the Poly Network's DeFi-protocol and took out over $611 million in Ethereum, Binance Smart Chain and Polygon (1) addresses. This is the largest attack in the DeFi segment to date. It is estimated that attackers stole $273 million on the Ethereum network, $253 million on the Binance Smart Chain network, and $85 million in #USDC on the Polygon network. Funds in #WBTC, #WETH, #RenBTC, #DAI, #UNI, #SHIB, #FEI and other tokens were affected.
The Poly Network team asked cryptocurrency exchanges and projects to block the stolen funds and blacklist the hackers' addresses. Tether blocked approximately $33 million #USDT on ether, which was stolen during the attack, the management of exchanges Binance and Huobi also promised to help the project. The Poly Network protocol allows tokens to be transferred between different blockchains. It was developed by an alliance of teams behind blockchain platforms Neo, Ontology, and Switcheo.
I believe the roots of the problem are in the lack of the necessary standards for auditing the code, with a fairly high demand for protocol validation for its security in the DeFi sector right now. I think projects are not investing enough in cybersecurity. There is also little insurance of user funds on various platforms, from exchanges to protocols, it is likely that the insurance market will begin to develop in the cryptocurrency industry in the near future.
▫️Alts: Ahead of the listing of IoTeX (#IOTX), Orion (#ORN), Quickswap (#QUIC) and Tribe (#TRIBE) on the Coinbase Pro exchange, #IOTX is showing the most growth, up 60% (to the dollar).
The strategic partnership of GeroWallet (#GERO) with ADAX PRO increased the value of #GERO by 40% (to the dollar).
The launch of the stacking program by Project Bright Union (#BRIGHT) led to a 25% (to the dollar) increase in the price of #BRIGHT.
▫️The major Wall Street indices ended Tuesday's trading mixed due to strength in the oil and gas, commodities, and telecom sectors and negative momentum in the technology, health care, and utilities sectors. At the close on the New York Stock Exchange, the Dow Jones was up 0.46%, the S&P 500 was up 0.1%, and the NASDAQ Composite was down 0.49%.
▫️Total cryptocurrency market capitalization is up 1.75% in the last 24 hours, bitcoin dominance is down 2.2%. The scenario with the strengthening of altcoins relative to the main cryptocurrency has begun to materialize, capital is flowing into alts.
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