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Price at August 23rd : BTC, ETH, ADA, BNB, XRP &DOGE

Altcoins are likely to move higher even as Bitcoin price takes a breather after hitting $50,000 for the first time in months.

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Altcoins are likely to move higher even as Bitcoin price takes a breather after hitting $50,000 for the first time in months.

Bitcoin pushed above the psychological hurdle at $50,000 for the first time since May . The sharp rally of the past few days has turned the sentiment bullish, with many expecting the resumption of the bull run.

BTC/USDT

Bitcoin has been trading inside a rising wedge pattern for the past few days. The bulls flipped the $48,000 level to support and pushed the price above the psychological level of $50,000 today. The Bitcoin/Tether (USDT) pair could now rise to the resistance line of the wedge where the bears may mount a stiff resistance. If the price turns down from this resistance, the pair could drop to the support line of the wedge.

ETH/USDT

The bears tried to stall Ether’s (ETH) advance at the overhead resistance at $3,335, but the bulls did not allow the price to endure below $3,200. This suggests that sentiment remains bullish and traders are buying on slight dips. The bulls are currently attempting to hold the price above the overhead resistance at $3,335. If they are successful, the ETH/USDT pair could resume its uptrend and rally to $3,670, and then to the psychological level at $4,000.

ADA/USDT

ADA has been in a strong uptrend for the past few days. After hesitating near the previous all-time high of $2.47.The bulls resumed the rally on the 22nd. The next target objective on the upside is the psychological barrier at $3.00. Vertical rallies are rarely sustainable, hence the ADA/USDT pair may enter a minor consolidation or correction near $3.00.

BNB/USDT

BNB broke above the overhead resistance at $433, indicating the start of a new uptrend. The bear’s attempted to pull the price back below the breakout level and trap the aggressive bulls but was unsuccessful. The bulls resumed their buying today and pushed the price above the minor resistance at $460. The BNB/USDT pair may face minor resistance at $520. If the bulls can overcome this hurdle, the next stop could be $600.

XRP/USDT

The bears tried to stall XRP’s recovery at $1.28 on Aug. 21, but the shallow correction on Aug. 22 indicates that bulls are not closing their positions in a hurry. The bulls will now try to propel the price above the overhead resistance at $1.35.If they succeed, the XRP/USDT pair could pick up momentum and rally to the next stiff resistance at $1.66.

DOGE/USDT

DOGE rebound off the breakout level at $0.29 hit a wall at $0.33 on Aug. 20. This suggests that bears have not given up and are attempting to stall the recovery. The price is currently stuck between the breakout level at $0.29 and the overhead resistance at $0.35.

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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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