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BTC, UNI, LINK, SOL, XMR are the top 5 crypto currencies to watch this week

UNI, LINK, SOL and XMR could move higher if Bitcoins sharp rally sustains its momentum.

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UNI, LINK, SOL and XMR could move higher if Bitcoins sharp rally sustains its momentum.

Bitcoin’s 43% rally from $29,482.61 on July 21 to $42,316.71 on July 30 has revitalized the bulls who had been sitting on the side. After the sharp rise analysts are debating if Bitcoin could repeat its sharp bull run which was seen in 2013 and 2017.

Jeff Ross Capital founder of Vailshire and CEO emphasised that Bitcoin had rallied ten-fold in the second half of 2013 after facing three months of negative news. Ross said:

“I still contend that 2021 will behave in similar fashion.”

BTC/USDT

Bitcoin’s sharp rally of the past few days is facing stiff resistance at $42,451.67 but on a positive note buyers have not given up much ground. This shows that the bulls are not dumping their positions as they anticipate the rise to continue.

UNI/USDT

Uniswap rose above the downtrend line on July 30, invalidating the descending triangle pattern. This could result in a short squeeze as aggressive bears rush to cover their positions. If bulls drive the price above the $23.45 to its $25 resistance zone, the UNI/USDT pair could rally to the stiff overhead resistance at $30.

LINK/USDT

Chainlink broke above the 50-day SMA ($18.73) on July 27 .This shows that bears the were losing their grip. After a slight hesitation near the psychological level at $20, the bulls continued the relief rally on July 30.

SOL/USDT

On July 31 the bulls pushed Solana above the downtrend line. This invalidated the descending triangle pattern. The bears are currently attempting to pull the price back below the downtrend line and trap the aggressive bulls. The 20-day EMA ($30.49) has turned up and the RSI has risen above 61, indicating that buyers have the upper hand.

XMR/USD

Monero went above the downtrend line on July 26, which invalidated the developing descending triangle pattern. The failure of a bearish setup is a positive sign. The XMR/USDT pair has been consolidating in a tight range for the past three days.

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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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