Coldcard Hack Sends Shockwaves Through Crypto Markets
The cryptocurrency market has taken a hit after a $38 million drain from Coldcard hardware wallets. This sudden loss of funds has caused Bitcoin's price to drop to $63,843.8, which is within its Bollinger Bands. The upper resistance at $65,010.27 and lower support at $63,248.7 are still intact.
The bearish EMA structure shows that the 50-day moving average (EMA50) is at $64,424.17, while the 200-day moving average (EMA200) is at $63,949.83. The Relative Strength Index (RSI) is currently at 43.66, indicating a neutral market sentiment.
Despite this, the Moving Average Convergence Divergence (MACD) has printed a bullish golden cross, suggesting that Bitcoin's price may soon test the EMA200 resistance before potentially retracing towards the $60,000-$61,000 zone. This could have significant implications for the broader crypto market and its future predictions.