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Top Crypto currencies this week: BTC, ADA & LUNA

Bitcoin’s consolidation near $50,000 shows a steady market and could attract buyers to altcoins like ADA & LUNA

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Bitcoin’s consolidation near $50,000 shows a steady market and could attract buyers to altcoins like ADA & LUNA

The U.S. Federal Reserve Chairman stated that the central bank will start tapering its $120 billion monthly bond purchases by the end of the year, but the interest rate increases would have to wait until the job market and inflation pass the more crucial stage. The U.S. dollar index fell due to this reason and  the S&P 500 index rose to a new all-time high, and Bitcoin) surged about $1,500 in under an hour.

BTC

Bitcoin bounced off the 20-day exponential moving average of $46,823, however the bulls have not been able to cause a push in the price above the overhead resistance zone at $50,000 .This indicates that the bears have not given up yet. If the price turns down from the current level and falls under the 20-day EMA, this suggests that the short-term traders are booking profits. That may pull the price down to $43,927.70 and then to $42,451.67.

ADA/USDT

ADA is currently shifting between $2.97 and $2.47. The price had dropped to the breakout level at $2.47 but the sharp rebound off it on the 27the indicates that the bulls have flipped the level into a support range. A consolidation near the all-time high is a positive sign as it shows that traders continue to buy on dips. Both moving averages are sloping up and the RSI is near the overbought territory, indicating that the path of least resistance is to the upside.

LUNA/USDT

The LUNA token is in a solid uptrend. After a few days of shifting, the price rebounded off the 20-day EMA of $26.42 meaning that the sentiment remains on a positive note.

The sluggish moving averages and the RSI in the overbought territory shows that bulls have the advantage. The first target objective on the upside is a move to $43 and if that level is crossed, the LUNA may rally to $50.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Crypto News. Every trading move involves risk and you should conduct your own research when making an investment 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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