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Price August 13th: BTC, ETH, BNB, ADA, XRP

The sharp bounce back in Bitcoin and key altcoins proves that traders are buying aggressively on every minor dip.

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The sharp bounce back in Bitcoin and key altcoins proves that traders are buying aggressively on every minor dip.

BTC

The bears pulled Bitcoin below the 200-day simple moving average $45,218 on the 12th but they have not been able to sustain the lower levels. The bulls have pushed the price back above the 200-day SMA today which indicates they are  buying on dips. If buyers propel the price above the resistance line of the wedge, the BTC/USDT pair could rally to $51,000. This level may act as resistance but if bulls do not give up much ground, the uptrend may reach $60,000.

ETH

Ether dropped to the breakout level at $3,000 on Aug. 12 but the bears could not capitalize on the opportunity. The bulls purchased the dip and are attempting to resume the up-move today.

The RSI in the overbought territory suggest that bulls have the upper hand. If buyers propel the price above $3,274, the ETH/USDT pair could rally to $3,587.06 and then to $4,000.

BNB/USDT

Binance Coin formed an inside-day candlestick pattern on Aug. 12, indicating indecision among the bulls and the bears. The buyers purchased at lower levels and are currently attempting to resolve the uncertainty in their favour.

If bulls propel the price above $408.72, the up-move could reach the overhead resistance at $433. The bears may again pose a stiff challenge at this level and if the price turns down from this resistance, the pair could drop to the 20-day EMA ($347).

ADA/USDT

The long wick on Cardano’s candlestick on Aug. 11 shows that bears tried to stall the rally near the overhead resistance at $1.94. That was followed by an inside-day candlestick pattern on Aug. 12 but the long tail on the day’s candlestick showed strong buying at lower levels.

The bulls have thrust the price above the overhead resistance today, which opens the gates for a rally to the all-time high at $2.47. However, the RSI has risen above 86, indicating that the rally is overextended in the short term.

XRP/USDT

XRP broke above the downtrend line of the descending channel and surged to the overhead resistance at $1.07 on Aug. 11 but the bulls could not sustain the higher levels. The bears pulled the price back inside the channel on Aug. 12 but the correction was short lived.

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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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