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Crypto currencies to watch this week: BTC, ADA & AVAX

Bitcoin price continues to encounter resistance at the $50,000 level. The rounding bottom pattern seen in most altcoins is a sign that traders aim to push prices higher.

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Bitcoin price continues to encounter resistance at the $50,000 level. The rounding bottom pattern seen in most altcoins is a sign that traders aim to push prices higher.

Bitcoin is at the key $50,000 level and most traders are still positive even after the digital asset rallied 70% from the July 20 low at $29,278 to an intraday high at $49,757.04.

BTC/USDT

Bitcoin rebounded off the 20-day exponential moving average at $45,049 on the 19th and the bulls pushed the price above the stiff overhead resistance at $48,144. The bears are currently attempting to stall the up-move at the psychological resistance at $50,000. If bulls do not give up much ground and turn the $48,144 level to support, it will show strength. The BTC/USDT pair could then pick up momentum and start its northward march toward $58,000.

ADA/USDT

ADA is at a strong uptrend. The bulls pushed the price above the all-time high at $2.47 on the 20th but the long wick on the day’s candlestick showed selling at a higher level.  The uncertainty of the bulls and bears resolved to the upside today as the bulls have again pushed the price to a new all-time high. If buyers sustain the price above the breakout level at $2.47, the ADA/USDT pair could rally to $3 in the following days.

AVAX/USDT

AVAX rallied from $18.41 on the 17th to $50.27 on the 21st, a 173% rally within a short time. This sharp up-move has pushed the RSI above 92, demonstrating the rally is over-extended in the short term. The long wick on the Aug. 21 candlestick shows that bears are attempting to defend the psychological resistance at $50. On the downside, the first support is at $40

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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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