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⚡Spot Bitcoin ETFs in China🇨🇳

Croxroad

07 Nov 2023 — 3 min read

☕️ GM Dear Plebs!

Here is Crox Road, your daily dose of orange pill that will turn you into a Bitcoin Maxi.

The menu for today:

🇭🇰 China Eyes Bitcoin ETF Opportunity

🧑‍💻 Microsoft Store Scandal

Over the weekend, hackers managed to make off with 16.8 Bitcoin (BTC) by exploiting a counterfeit Ledger Live app that was mistakenly listed on the Microsoft app store. This incident was flagged by blockchain analyst ZachXBT, who also noted that the cybercriminals had stolen an additional $180,000 in assets from both Ethereum and Binance Smart Chain (BSC), pushing the total losses to a staggering $770,000. The fake app on the Microsoft store served as a gateway for the hackers to access users' cryptocurrency holdings and siphon off significant sums, underscoring the importance of staying vigilant and verifying the legitimacy of apps and platforms when dealing with cryptocurrencies.

Following the theft, the hacker took measures to consolidate the stolen funds and then distributed them among multiple wallets, likely in an effort to obfuscate their tracks and make it more challenging to trace the stolen assets. Ledger Live, the legitimate app for Ledger hardware wallet users, allows them to manage and send their digital assets. The exact circumstances surrounding how a fake version of this app was approved and made its way onto the Microsoft store remain unclear, highlighting the need for enhanced security and vigilance in the cryptocurrency space. Unfortunately, cryptocurrency-related hacks have become more frequent, particularly as the value of digital assets has surged. Just last week, hackers successfully drained $4.4 million in crypto from LastPass, a password storage manager that had previously suffered a data breach in 2022, underscoring the ongoing challenges of safeguarding digital assets in the evolving cybersecurity landscape.

🐾 Price Gaps

Gaps in the Forex market occur when there's a noticeable space between trading periods. Typically, one chart period closes as the next one begins, but gaps can happen in various scenarios. They are commonly observed at the market open after the weekend, and they can also occur when there's a significant and rapid price movement. Gaps fall into three primary categories:

Breakaway gaps appear at the beginning of a new trend. These often occur when an instrument has been moving in a sideways consolidation pattern, and then a significant news event or development triggers a sudden price movement. Breakaway gaps are considered signs of a strong and continued trend.

Runaway gaps signal the continuation of the current trend. Trading based on runaway gaps is often seen as a safe strategy, especially when confirmed by other trading signals. This type of gap suggests that the prevailing trend still has momentum.

Exhaustion gaps form at the end of a trend and indicate that the trend is nearing its conclusion, potentially even reversing. This pattern can serve as a warning that the current trend is running out of steam. Traders should evaluate their positions within the context of other signals that might indicate a trend reversal is imminent.