Crypto markets wobble as Bitcoin, Ethereum, XRP test key supports after Binance hack
ITF Team1 min read
Bitcoin clings to $78,000, Ethereum slides near $2,200 and XRP seeks recovery above $1.20 following a $6.3 billion breach at Binance.
Cryptocurrency prices were volatile on Friday as the market reacted to a major security breach at Binance, the world’s largest crypto exchange. Bitcoin (BTC) managed to stay above a short‑term $78,000 support, while Ethereum (ETH) slipped toward $2,200 and Ripple (XRP) tried to bounce back above a $1.20 floor.
Binance breach and on‑chain response
- The hack is estimated to have affected roughly $6.3 billion, prompting Binance to suspend deposits and withdrawals while it investigates the incident.
- Binance says the attack likely stemmed from a compromised DevOps engineer’s laptop that gave the attacker access to a container service for unauthorized withdrawals.
- The exchange is working with blockchain partners Tether, Circle and Ripple to freeze about $3 billion of on‑chain assets and has pledged to cover all losses through its Secure Asset Fund for Users (SAFU).
Technical picture for the leading coins
- BTC trades at $78,012, holding below the 50‑day EMA ($80,608) but above the 100‑day EMA ($77,825) and 200‑day EMA ($76,455), keeping the longer‑term uptrend alive yet under pressure.
- The SuperTrend level at $84,056 sits well above spot, while RSI near 36 and a negative MACD suggest lingering downside bias.
- ETH is at $2,231, below its 200‑day EMA ($2,316), 100‑day EMA ($2,358) and 50‑day EMA ($2,435). RSI is around 29 in oversold territory and MACD remains negative, indicating continued bearish momentum.
What traders are watching
- For Bitcoin, a daily close above the 50‑day EMA ($80,608) could ease bearish pressure and open a path toward the $84,056 SuperTrend line.
- A break below the 200‑day EMA ($76,455) would raise concerns of deeper retracements.
- Ethereum traders will monitor whether price can regain the 200‑day EMA ($2,316) to challenge the current downtrend.
- XRP’s key level remains the $1.20 support; a clear break could trigger further selling.
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This article is compiled from international market news for information only. It is not investment advice.