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Cryptocurrencies of the week: BTC, XRP & NEAR

If BTC can flip $41,000 back to support, XRP & NEAR could attract potential buyers. BTC leaped below $40,000 and has been trading below the level throughout the weekend.

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Cryptocurrencies of the week: BTC, XRP & NEAR

If BTC can flip $41,000 back to support, XRP & NEAR could attract potential buyers. BTC leaped below $40,000 and has been trading below the level throughout the weekend.

BTC

BTC broke below the moving averages last week signifying that the bears are attempting to gain the upper hand. The bulls tried to trap the aggressive bears by pushing the price back above the moving averages over the weekend but was unsuccessful. If the price endures below the moving averages, the bears will try to pull BTC  to the support line of the ascending channel.

XRP

XRP has been attempting to rise above the downtrend line for the past few days but the bears have held their ground. A minor positive is that the bulls have not given up and are trying to defend the 50-day SMA at $0.72. The moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If bulls push and sustain the price above the downtrend line, the momentum is likely to pick up and could rally to $0.91.

NEAR

 NEAR is crammed between the moving averages for the past few days. This shows that bears are selling on rallies to the 50-day SMA at $11 while bulls are buying on dips to the 20-day EMA at $10. The RSI is near the midpoint and the 20-day EMA has flattened out, indicating a status of equilibrium between the bulls and the bears. If the price rebounds off the current level and breaks above $12, it will suggest that bulls are on a comeback.

The views and opinions expressed here are solely those of the writer 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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