US Military Actively Explores Blockchain Technology
- Military Blockchain Testing: Admiral Samuel Paparo of the US Indo-Pacific Command revealed during a Senate hearing that the military is operating a Bitcoin node to conduct cybersecurity tests aimed at enhancing network defense capabilities, indicating a strategic interest in blockchain technology.
- Exploring Technical Advantages: Paparo emphasized that the military's interest in Bitcoin lies not in its financial value but in its infrastructure benefits from a computer science and cryptography perspective, leveraging its decentralized architecture and proof-of-work mechanism to enhance data protection.
- Significant Market Reaction: Following Paparo's public testimony, Bitcoin's price surged past $77,000, revitalizing market sentiment and pushing the Fear & Greed Index to its highest level in three months, demonstrating the direct impact of the military's announcement on the market.
- New Cybersecurity Initiatives: The US Treasury Department has launched a new initiative to improve the efficiency of companies reporting cyber threats, aiming to address escalating cyberattacks from external actors, particularly from countries like North Korea, highlighting the military's focus on decentralized technologies and defensive strategies.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 3 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 66782.011 | 70045.931 | 72944.981 | 76208.901 | 79107.951 | 82371.871 | 85270.921 |
| Fibonacci | 70045.931 | 72400.185 | 73854.646 | 76208.901 | 78563.155 | 80017.616 | 82371.871 |
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