The crypto market just got hit with a bit of news. Major crypto exchange OKEx has recently announced suspension from withdraws due to one of its private key holders being compromised. Will this news create a tumbling effect? Many analysts don\u2019t think so. Let\u2019s go over why.CustodyLike many centralized exchanges, OKEx separates its cold storage private keys among its chief members. This provides protection from internal and external bad actors. OKEx has had one private key holder MIA. They believe the holder is under a public security bureau\u2019s investigation and full cooperation is required. Without the holder, associated authorization could not be completed so the exchange decided to freeze withdraws to protect users and the exchange.3% DropAfter the statement was made, the price of bitcoin dropped from $11,514 to $11,190 within a 30-minute span. This caused a small market wide-pullback. The good news is that price bounced off the support, which shows strong bullish fundamentals. Bulls struggle to sustain price above $11.5k, but as long as they stay within range, a rally could be on the way.BTC\/USD daily chart. Source: TradingViewBears will try to drag the price down below $11.1k, but they\u2019ll be faced with buyers due to the 20-day exponential moving average being $11,081. The upsloping 20-day EMA and the positive relative strength index suggests that buyers have the upper hand. If the bears manage to break support, the price can drop to $10k.No BiggieJust like BitMEX\u2019s criminal charges, OKEx\u2019s situation is contained at the institution\u2019s level. This is due to the issues having no relation to hacking or shitting down of the exchange. The crypto market continues to become desensitized to negative news since we get them more often than not. It seems like bitcoin is set to bounce back from this news, though it\u2019s still vulnerable to\u2026<\/p>","protected":false},"excerpt":{"rendered":"
The crypto market just got hit with a bit of news. Major crypto exchange OKEx has recently announced suspension from withdraws due to one of its [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/2426"}],"collection":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/comments?post=2426"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/2426\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media\/2427"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media?parent=2426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/categories?post=2426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/tags?post=2426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}