Connect with us

Business

Updates 02nd October: BTC, ETH, ADA & BNB

Previous data suggests that October is a good month for Bitcoin bulls, and the push above $47,600 could be a signal of what’s to come for BTC and other altcoins.

Published

on

Previous data suggests that October is a good month for Bitcoin bulls, and the push above $47,600 could be a signal of what’s to come for BTC and other altcoins.

September stayed true to its billing as a historically weak period for crypto currencies. Bitcoin closed the month with a loss of about 7%, but October may bring cheer to the bulls because Bitcoin has risen in six of the past eight years.

BTC

The repeated disaster of the bears to sink Bitcoin below the 100-day simple moving average of $41,470 in the past few days could have attracted buying from aggressive bulls and short-covering from short-term traders. The bullish motion picked up after bulls pushed the price above the 20-day exponential moving average of $44,485.

ETH

The long wick on Ether’s candlestick shows that bears sold at higher levels but a positive sign is that bulls did not allow the price to break below the 100-d Aggressive buying in the past two days has pushed the price to the 50-day SMA ($3,290). The zone between the 50-day SMA and the downtrend line is critical for the bears to defend because if bulls push the price above it, the ETH/USDT pair could rise to $3,676.28.ay SMA ($2,794). This shows that bulls continued to accumulate at lower levels.

ADA

ADA bounced off the $2.02 level on , indicating that bulls are attempting to defend the zone between the psychological level at $2 and $1.94. The recovery could face stiff resistance at the 20-day EMA ($2.26).

If the price turns down from the 20-day EMA, it will suggest that sentiment remains negative and traders are selling on rallies. The bears will then make one more attempt to sink the price below the 100-day SMA of $1.89.

BNB

The sharp rally in Binance Coin in the past two days suggests short-covering by the bears and buying by the aggressive bulls. The buyers have cleared the hurdle at the 20-day EMA of $384 and may now challenge the overhead resistance at $433. If the price turns down from $433 but rebounds off the 20-day EMA, it will suggest that the sentiment has turned positive and traders are buying on dips.

Business

Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

Published

on

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.

Continue Reading

Business

Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

Published

on

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.

Continue Reading

Business

Hackers are selling counterfeit phones with crypto-stealing malware

Published

on

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.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk