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Cryptocurrency watch: BTC, MATIC & NEAR

After staying above $50,000 on Christmas day,  BTC faced selling pressure on the 26th of December. The reasons for the possible dip in Bitcoin’s price is due to the increase in inflows to the Binance exchange.

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Cryptocurrency watch: BTC, MATIC & NEAR

After staying above $50,000 on Christmas day,  BTC faced selling pressure on the 26th of December. The reasons for the possible dip in Bitcoin’s price is due to the increase in inflows to the Binance exchange.

BTC

Bitcoin broke above the 20-day exponential moving average of ($49,832) on the 23rd but the recovery hit a barrier at the 38.2% Fibonacci retracement level at $52,314. This shows that the bears have not yet given up and continue to sell on rallies. BTC formed a Doji candlestick pattern on the 24th, signifying uncertainty among the bulls and the bears. This indecision resolved to the downside and the price has slipped to the 20-day EMA. If the price rebounds off the current level and breaks above $52,314, it will show a positive sing and traders are viewing the dips as a buying opportunity.

MATIC

MATIC has been in a strong uptrend. Although bears posed a stiff challenge at $2.70, the bulls did not give up much ground and have pushed the price to a new all-time high today. If bulls sustain MATIC price above $2.70, MATIC could start the next phase of the uptrend. The pair could first rise to $3.41 and if this level is crossed, the up-move may reach the mark at $5.

NEAR

The NEAR token picked up force after breaking above the falling wedge pattern on the 23rd. This carried the price above the strong resistance at $13.23, indicating the resumption of the uptrend. The bears are reluctant to allow the bulls to have their way and are aggressively defending the $16 level.

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 and 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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