On Wednesday evening, hackers infiltrated the Twitter accounts of prominent figures such as Elon Musk and Barak Obama to solicit BTC from individuals by promising to double the amount sent to a specified wallet address.
However, BTC saw little in the way of significant movement, with the value of the world’s most popular digital currency off by just 1.23%. Bitcoin is currently trading at $9,067.
Bitcoin Could Soon Post a Breakout Rally
Bitcoin has been caught within an unrelenting trading range between $9K and $10K since May. Since massive movements typically follow spells of low volatility, it does appear that the flagship digital coin is poised to see some intense near-term volatility.
And crypto analyst CanteringClark is noting on twitter that BTC’s next stint of intense volatility could create another cascade of liquidations that will enlarge the scale of the price movement – irrespective of which direction the king crypto takes.
Another analyst observed some striking similarities between Bitcoin’s current price action and that seen when trading around $6,000 in the Mid-March “Black Thursday” crash, noting that it does appear the next move may favour bulls.
CryptoRangutan shared the chart below, showing that if BTC repeats the price action seen when it was at $6,000, it could soon post a breakout rally.
Monero (XMR) Mentioned in Secret Message
While prominent accounts were targeted in yesterday’s Twitter attack, including names of persons such as Joe Biden, Bill Gates, Kanye West, Kim Kardashian, Warren Buffett, Mike Bloomberg and Jeff Bezos, the accounts were hacked with a message concerning XMR.
According to blockchain data, an individual sent 0.00005348 BTC to the wallet associated with the Twitter hack. The yet-to-be-identified sender spent 0.00121639 BTC in transaction fees ($11.19) to state that XMR is more secure than BTC.
Reddit user u/ethereumflow said the Monero message was deliberate in that it reached people who use BTC to get them to research some of the privacy features of XMR.
Monero prices have seemingly benefited from this publicity stunt, with the price of XMR up by 4.66% in the last 24 hours to trade at $67.85 during press time.