Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. Transak Data Breach: Crypto on-ramp platform Transak disclosed a data breach affecting over 92,000 users due to a phishing attack on an employee’s laptop.

2. 📈Technical Analysis Masterclass - Bitcoin is currently trading around $66k–$67k, following a rejection at the $69k level. Watch UseTheBitcoin’s latest Youtube video “Bitcoin’s Next Move to 70k? Here's What You Need to Know” to get the concise breakdown of the technical analysis and potential trading plan or join our Official Telegram Channel for more alpha!

3. Michael Saylor Criticized: Michael Saylor, known for promoting Bitcoin self-custody, has faced backlash for suggesting that Bitcoin holders trust large financial institutions over personal wallets.

4. 💡Feature of the Day - Ripple Pledges $10M to Kamala Harris: Ripple co-founder Chris Larsen pledged $10 million in XRP to a PAC supporting Kamala Harris's 2024 presidential campaign.

   
   All this and more in today’s headlines!

📰 News Highlights:

Transak Data Breach [Source][Source]

Crypto on-ramp platform Transak has disclosed a data breach affecting over 92,000 users, following a phishing attack on an employee’s laptop.

The attack allowed unauthorized access to sensitive user data stored within a third-party Know Your Customer (KYC) vendor.

Personal information, including names, birth dates, passports, driver’s licenses, and selfies, was compromised, though no financial data was breached.

The breach impacted 1.14% of Transak's total user base. Despite the compromise, the company assured that financially sensitive details like passwords and credit card numbers remained safe.

📈Technical Analysis Masterclass:

Bitcoin’s Next Move to 70k? Here's What You Need to Know

Key Support and Resistance Levels

• Resistance at $69k: Bitcoin struggled to break through $69k, creating downward pressure.

• Support at $64k: A Fair Value Gap exists around $64k, which could act as a magnet, pulling Bitcoin back to this level before resuming its upward move. This zone could present a good buying opportunity.

Indicators Overview

• RSI: Currently around 58, indicating neutral conditions with room for movement in either direction.

• MACD: Shows some bullish momentum, but the lines are close together, suggesting the trend could shift quickly. It's not a strong confirmation of an upward move yet.

Trading Plan

• Current Price (66k–67k): Consider entering the market now to capitalize on a potential upward move.

• Backup Plan: Set a buy order around $64k to take advantage of a pullback if Bitcoin revisits the Fair Value Gap.

• Upside Potential: If Bitcoin breaks through $69k, it could push towards $70k and beyond, setting new highs.

Michael Saylor Criticized [Source][Source][Source][Source]

Michael Saylor, a long-time advocate for Bitcoin self-custody, has drawn criticism for suggesting that Bitcoiners should trust large financial institutions over personal wallets.

In an October interview, the MicroStrategy chairman claimed that fears of a state seizure of Bitcoin held by custodians were exaggerated, labeling concerns as the product of “paranoid crypto-anarchists.”

He urged Bitcoiners to consider using “too big to fail” banks for storing their assets.

Many within the Bitcoin community were quick to push back, pointing out that Saylor’s new stance contradicts his past advocacy for self-custody as a safeguard against institutional overreach.

Notable Bitcoiners, including Simon Dixon and John Carvalho, accused Saylor of promoting custodianship to align with MicroStrategy's potential plans to offer Bitcoin-backed financial services.

💡 Feature of the Day: 

Ripple Pledges $10M to Kamala Harris [Source][Source]

Chris Larsen, co-founder of Ripple, has pledged $10 million in XRP to a political action committee (PAC) supporting U.S. Vice President Kamala Harris in her 2024 presidential bid.

The Future Forward USA PAC, which has raised over $200 million for Harris, aims to boost her chances against Donald Trump.

Larsen’s donation, announced on October 21, follows a $1 million contribution he made earlier this year, marking a significant crypto-backed endorsement of Harris.

Ripple's CEO Brad Garlinghouse also emphasized that the company remains committed to engaging with lawmakers across the political spectrum to support pro-crypto policies.

Today’s Sponsor:

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😂 Crypto Meme of the Day: 

And that’s it for this today.

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See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com