Crypto Scams Down, But Ransomware Crime Up In 2023: Chainalysis
Unlike scams, ransomware attacks are “agnostic to Bitcoin price actions,” says Cybercrime Research Lead Eric Jardin.
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Unlike scams, ransomware attacks are “agnostic to Bitcoin price actions,” says Cybercrime Research Lead Eric Jardin.
Crypto crime is down- but there remain worrying signs for the industry
Bitcoin and select altcoins are making an attempt at flipping key resistance levels, but negative news-flow and selling from BTC miners could continue to weigh on market sentiment.
Bitcoin and altcoins have held their immediate support levels, suggesting the start of a relief rally in the short term.
Positive news about the collapse of China Evergrande and the Fed’s intention to continue with its existing monetary policy has fueled a strong rally in bitcoin and altcoin prices.
The week-long daily lower high pattern suggests bulls will not be able to flip $43,000 as support, which could drag down many altcoins that just bounced back.
Historical data shows that October has been a good month for Bitcoin bulls, and Bitcoin’s break above $47,600 on October 1 could be a harbinger of what’s to come for Bitcoin and altcoins.
Bitcoin and some altcoins are facing a sell-off at higher levels, suggesting that short-term traders may be taking profits after the recent rally.
Altcoins are selling off ahead of the launch of a bitcoin ETF this week, a possible sign that traders are concerned about the historic launch.
BNY Mellon, the world's largest custodian bank, has partnered with blockchain software company Chainalysis to track its users' crypto transactions.