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Price August 11th: BTC, ETH, BNB, ADA, XRP

Bitcoin along with with major altcoins remain above their respective 200-day moving average but the market’s momentum will depend if BTC can pierce the $48,000 level. Bitcoin’s  recovery and stride toward the psychological level at $50,000 has improved the overall sentiment in the crypto sector. There is an increase in the dominance of Bitcoin transactions exceeding $1 million in the past few months.

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Bitcoin along with with major altcoins remain above their respective 200-day moving average but the market’s momentum will depend if BTC can pierce the $48,000 level. Bitcoin’s  recovery and stride toward the psychological level at $50,000 has improved the overall sentiment in the crypto sector. There is an increase in the dominance of Bitcoin transactions exceeding $1 million in the past few months.

BTC/USDT

The bears have been trying to pull the price back below the 200-day simple moving average  of $45,091 for the past two days but the bulls have held their ground. The 20-day exponential moving average of $41,010 has been sloping up and the relative strength index (RSI) is in the overbought zone, which means that bulls are in control.

ETH/USDT

Ether’s strong recovery on Aug. 9 shows that bulls flipped the $3,000 level into support. This level is likely to act as a floor on future declines. The bulls are attempting to resume the uptrend today. The ETH/USDT pair could now rally to the $3,4441.73 to $3,587.06 resistance zone where the bears are likely to pose a stiff challenge.

BNB/USDT

Binance Coin rebounded off the moving averages on Aug. 9 and started its upward journey toward the resistance of the large $211.70 to $433 range.

ADA/USDT

Bears attempted to stall Cardano’s relief rally at the $1.50 resistance but they could not pull the price back below the 20-day EMA ($1.42). This showed that bulls were not booking profits as they anticipated the recovery to continue. The ADA/USDT pair surged above the $1.50 level on Aug. 10 and could now rally to the overhead resistance at $1.94

XRP/USDT

The bulls successfully held the retest of the breakout level at $0.75 on Aug. 9 and pushed  back above the 200-day SMA ($0.80). The altcoin could now rally to the downtrend line of the descending channel where the bears may mount a stiff resistance.

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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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