Today's Top Crypto Headlines:

Animoca co-founder’s X Hacked | Montenegro Denies Do Kwon Appeal | Bitcoin Holds Near $98,000 and more...

Author

King Fatrick Gil Añasco
December 26, 2024

Good Morning Crypto Enthusiasts!

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

  1. Yat Siu’s X Account Hacked: Animoca co-founder Yat Siu’s X account was hacked to promote a fake token. Investigator ZachXBT linked the attack to phishing emails from a group responsible for $500,000 in thefts recently.

  2. Montenegro Denies Do Kwon Appeal: Montenegro’s court dismissed Do Kwon’s extradition appeal, reinstating the justice minister’s authority to decide between sending him to South Korea or the U.S.

  3. 📈Technical Analysis Masterclass - MOVE is a new entrant in the crypto market, quickly grabbing traders' attention due to its early-stage price action and potential for growth. Watch UseTheBitcoin’s latest Youtube video “New Crypto GEM? MOVE Coin is Turning Heads!” to see its patterns, entry points, and risks or join our Official Telegram Channel for more alpha!

  4. 💡Feature of the Day - Bitcoin Holds Near $98,000: BTC stayed near $98,000 on Dec. 25 amid bullish momentum, strong South Korean demand, and increased speculative short-term holders despite ETF outflows.


    All this and more in today’s headlines!

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📰 News Highlights:

Yat Siu’s X Account Breached [Source][Source][Source]

Animoca Brands confirmed co-founder Yat Siu’s X account was hacked to promote a fake token.

A post on Dec. 26 shared a fraudulent token named “Animoca Brands (MOCA)” via Solana’s Pump.fun platform.

Blockchain investigator ZachXBT attributed the hack to phishing emails from a threat actor responsible for $500,000 worth of similar attacks in the past month.

ZachXBT identified the same wallet deploying other fake tokens in previous incidents.

Montenegro Rejects Do Kwon's Extradition [Source]

Montenegro’s Constitutional Court dismissed Do Kwon’s appeal challenging the Supreme Court's ruling on his extradition.

The court's decision reinstates the authority of Justice Minister Bojan Božović to determine whether the Terra founder will be extradited to South Korea or the United States.

His local attorney has urged for a fair, law-based extradition process.

 📈Technical Analysis Masterclass:

Key Observations

  • Early-Stage Trends: MOVE has been trading for just a few days, with analysis focused on the 4-hour timeframe for the clearest view of its movements.

  • Higher Lows: The formation of higher lows suggests bullish momentum as buyers step in at increasingly higher price levels.

  • Cup and Handle Pattern: A classic bullish pattern has emerged, signaling a potential breakout. The "cup" represents consolidation, while the "handle" suggests a brief correction before a possible price surge.

When to Enter a Position?

  • Wait for Confirmation: Patience is key. Enter a position only after MOVE breaks above its resistance levels (tips of the cup and handle) with strong volume.

  • Sign of Breakout: A confirmed breakout occurs when the price closes above resistance levels, signaling a potential extended rally.

Manage Your Risk

  • Speculative Nature: MOVE lacks solid fundamentals or a long-term track record, making it highly speculative.

  • Set a Stop-Loss: Use stop-loss orders to cap potential losses if the trade moves against you. Proper risk management is crucial for volatile, new coins.

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💡 Feature of the Day: 

Bitcoin Fluctuates [Source][Source][Source]

Bitcoin hovered around $98,000 on Dec. 25, maintaining gains from its Christmas rally.

Analysts highlighted bullish momentum, with BTC showing strong support between its 21-day SMA ($99,600) and 50-day SMA ($94,650).

Despite $338.4 million in outflows from U.S. Bitcoin ETFs, traders remain optimistic about Bitcoin’s medium-term prospects.

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😂 Crypto Meme of the Day: 

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And that’s it for this today.

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See you all tomorrow’s edition!


Jonathan Gibson
UseTheBitcoin.com