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BitMartExchange
said it will use its own reserves to compensate the affected users of the $196 million hacking incident....

Bitcoin Update:
BTCUSDT -
D1 chart
Date: 7th December.
Tendency:
Downtrend,
Structure:

Looks like we finished the ABC correction. Cascade liquidation of long positions during Saturday. One of biggest decline in 2021 year (-27%) or (-39% from top). Potential bounce level: upper band of downtrend channel and resistance trend-line level around 53.5k. Bitcoin closed above DMA200 daily (50090). Potential target of breakout: 56400. Breakdown bellow 48k support level may lead to next supports around 45k. Critical level to watch 53500.
Support levels: 42000,44500,48000,50090
Resistance levels: 53500,56400,59400,66000

Colombia’s biggest bank offers trading!

BULLISH! 🚀🌙

https://bitcoinmagazine.com/business/colombia-biggest-bank-to-offer-bitcoin-trading

Don’t Expect $100k Bitcoin Until 2023, Market Pundit Asserts

The crypto community is fast coming to terms with the fact that “the only guarantee is that there is none” after virtually all their predictions for a bullish Q4 keeps fading into oblivion, forcing some to change tact to avoid catching the falling knife.

Bitcoin “moon boys” are more so the most affected after their calls for the $100,000 target seemed to have been further thwarted as the market fell into a shorting frenzy on Saturday morning, sending Bitcoin below $43,000 in yet its largest selloff in over four months.

While pundits such as PlanB and W***y Woo have temporarily shelved their predictions on the asset hitting $100,000 before year-end citing a myriad of factors including the Omicron fright and possible spoofing by whales on major exchanges, Chief Market Strategist at InTheMoneyStocks, Gareth Soloway believes the wait could be much longer, possibly running into 2023.

Bitcoin About To Enter A Dead Zone

If history is any guide, Bitcoin is still primed for a further pullback after which price will enter into an even more difficult stretch that could go on until 2023, according to Gareth.

“BTC tagged support at $52k. Note the attached chart. Big level here. If this gives way, it goes to $48K. While I love the long-term upside, near-term the charts tell all. The crazies were pushing the 100k narrative in 2021, still not seeing it til likely 2023,” he says.

Crypto Twitter’s Reaction on Ross Ulbricht’s NFT Drop

Ross Ulbricht, the notorious co-founder of Silk Road, has decided to launch his own NFT collections, which received a mixed reaction from crypto insiders.

2021 has been a profitable year for non-fungible tokens (NFTs) as the market has grown exponentially, allowing anything to be tokenized on the blockchain.

The decentralized nature of the industry also allows anyone to create, mint, and issue their NFTs from any part of the world, including those in prison.

Supporting Prisoners

Funds generated from the auction, which is scheduled to end on Dec. 8, will be used to support prisoners and their families via the charitable fund Art4Giving.

Additionally, the proceeds will fund a trust dedicated to efforts geared toward freeing Ross Ulbricht from life in prison.

Ulbricht added, “My own future may look bleak, but I can still do a little something to heal the damage I see all around me. Prison shatters families. It shatters communities. And the kids are the ones who suffer…

With this NFT, I see a chance to make a difference where it really counts: in the lives of kids who did not ask for any of this. There is a lot we can do with the proceeds of this auction, but one idea I am committed to is to help kids travel to visit their moms and dads in prison.”

Crypto Twitter Reacts

The announcement of Ulbricht’s NFT collection was met with mixed reactions across Crypto Twitter. While his supporters accepted it wholeheartedly, other industry participants did not.

Ulbricht has been a controversial figure within the crypto space ever since his incarceration about eight years ago.

He launched Silk Road in 2011, a dark web marketplace that was used for trading all sorts of illegal items, including drugs, weapons, and more, using bitcoin and other digital assets. In 2013, however, Ulbricht was arrested, and Silk Road was subsequently shut down. He was later convicted of conspiracy to launder money, computer hacking, narcotics trafficking, and running a criminal enterprise. Although he received two life sentences plus 40 years and was denied a presidential pardon earlier this year, his supporters have continued to rally for his release.

While some Bitcoin enthusiasts are completely against the idea of a criminal selling NFTs, the use of ETH to mint the tokens, among other things, Ulbricht has received immense support too.

Crypto Cobain, the host of UpOnly, slammed Bitcoin maximalists for their unwelcoming response to Ulbricht’s NFT drop, noting that he had pioneered the early adoption of Bitcoin.

Crypto Analysis and Trading:
Bitmart hacked for $200M following Ethereum, Binance Smart Chain exploit

The hackers made away with a mix of over 20 tokens that includes altcoins such as BNB, Safemoon, BSC-USD and BPay

Crypto exchange Bitmart lost nearly $200 million in a hot wallet compromise hosted over the Ethereum and Binance Smart Chain blockchains.

The $200 million Bitmart hack was first revealed by Peckshield, a blockchain security and data analytics company that initially identified a transfer of roughly $100 million over the Ethereum blockchain.

Further investigation from the team revealed a concurrent hack of $96 million over the crypto exchange’s BSC reserves:.

🚨2 HOURS LEFT🚨🙇‍♂

🚨3 HOURS LEFT🚨
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PUMP INSTRUCTIONS

We already know what happens when we involve the biggest of whales in the market… price explodes to ridiculous highs and remains up, without dropping a penny, meaning we’ll have buying support all throughout our pump.

We recommend initially market buying 50-75% of balance at market price to catch the first and strongest wave, then laddering the remaining BTC balance as limit orders below current market prices.

We’re expecting at least 3 initial waves to this pump, meaning we’ll be market and limit buying and holding at different price points to get the best average entry

When to sell? In order to get the highest volume of outsider buying volume for this pump, do not sell into buying walls set by other members, instead sell small parts as price goes. Up and place limit orders above 150%-200%

The main objective of this pump is for all Big Pumps Binance members to make a huge profit, meaning we need to hold price up while outside traders enter the market.

Our whales will be taking care of continuously pushing price up by market buying until we get the most outside buyers in🐋🐋