US Military Enters Blockchain Arena for Cybersecurity

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

Should l Buy BTC?

Strategic Shift in Cybersecurity: The US military's operation of a Bitcoin node signifies a strategic pivot towards enhancing cybersecurity, leveraging the potential of decentralized networks to bolster data protection capabilities.
Technical Testing and Defense: Admiral Samuel Paparo disclosed that the military's Bitcoin node is used for rigorous operational testing aimed at strengthening network defenses and deterring digital threats by elevating the costs of cyberattacks.
Intensifying Global Competition: The rivalry between the US and China has intensified within the Bitcoin ecosystem, with China holding approximately 190,000 BTC valued at $14.8 billion, while the US maintains dominance in Bitcoin reserves and mining power.
Market Reactions and Legislation: Following Paparo's announcement, Bitcoin's price surged past $77,000, reflecting investor optimism and future price predictions, while legislative efforts aim to bolster domestic mining and enhance national cybersecurity.

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like BTC with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

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

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

GET FREE REAL TIME NOTIFICATIONS

Stock Monitor for BTC?

Get Started Free

FREE STOCK RECOMMENDATIONS DAILY

Stock Bullish Tomorrow

Get Started Free

70% BACKTESTED ACCURACY!

Should I Buy BTC?

Get Started Free