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Top cryptocurrencies of the week: BTC, ETH & BCH

If Bitcoin manages to clear its overhead resistance level, ETH and BCH could resume their uptrend with unexpected strength.

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If Bitcoin manages to clear its overhead resistance level, ETH and BCH could resume their uptrend with unexpected strength.

BTC

The bears tried to sink Bitcoin back into the symmetrical triangle on July 23 but the bulls had other plans. The rebound off the breakout level from the triangle indicates that buyers are defending the level aggressively. The gradually rising 20-day exponential moving average ($21,865) and the relative strength index (RSI) in the positive territory indicate advantage to buyers. If bulls sustain the price above the 50-day simple moving average ($22,384),BTC could rally to the overhead resistance zone between $23,363 and $24,276. A break and close above this level could open the gates for a rally to the pattern target at $28,171 and then to $30,000.

ETH

Ether is facing stiff resistance at $1,700 but a positive sign is that buyers have not given up much ground. A tight consolidation near the overhead resistance increases the likelihood of a break above it. The up sloping 20-day EMA ($1,384) and the RSI in the positive territory indicate that bulls have the upper hand. If buyers drive the price above $1,700, the bullish momentum could pick up and ETH could rise to $2,000 followed by a rally to $2,200.

BCH

BCH is attempting to form a bottom after an extended downtrend. The price turned down from the $135 overhead resistance on July 20 but a positive sign is that the bulls defended the 20-day EMA ($117) aggressively. The price action of the past few days has formed a rounding bottom pattern, which will complete on a break and close above $135. If that happens, it will suggest that BCH may have bottomed out at $95. The pair could then rise to the pattern target at $175 and later to $200.

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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