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Top cryptocurrencies of the week: BTC, ETH & XTZ

Bitcoin is trying to form a higher low at $28,630 and if so ETH and XTZ could rally in the near term. After falling for eight consecutive weeks, the Dow Jones Industrial Average rebounded sharply last week to finish higher by 6.2%. BTC however has not been able to replicate its past performance and is threatening to paint a red candle for the ninth week in a row.

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Bitcoin is trying to form a higher low at $28,630 and if so ETH and XTZ could rally in the near term. After falling for eight consecutive weeks, the Dow Jones Industrial Average rebounded sharply last week to finish higher by 6.2%. BTC however has not been able to replicate its past performance and is threatening to paint a red candle for the ninth week in a row.

BTC

Bitcoin remains trapped inside a tight range between the downtrend line and the support at $28,630. The bears pulled the price below $28,630 on May 27th but could not endure the lower levels. This resulted in a rebound. The bulls will now try to push the price above the downtrend line and challenge the 20-day EMA of $30,538. If they are successful, BTC could pick up momentum and the rally could reach the 50-day SMA of $35,181.

ETH

Ethereum has been in a downtrend but the bulls are trying to delay the decline at the crucial support of $1,700. The price rebounded off this support and the bulls are now trying to build on the recovery. The RSI is forming a bullish divergence, indicating that the downtrend may be weakening. If bulls push the price above the 20-day EMA of$2,036, ETH could rise to the overhead resistance at $2,159. The bears are expected to defend this level aggressively.

XTZ

Tezos is consolidating in a downtrend. Although bulls pushed the price above the 20-day EMA of $2 they could not endure the recovery. The 20-day EMA is flattening out and the RSI is above 46, suggesting that the selling pressure is reducing. If bulls push the price above the 20-day EMA XTZ could rally toward the 50-day SMA of ($2.45).

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of CryptoNews. Every investment and trading move involves risk, the reader should conduct their own research when making a decision.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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