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Bitcoin must close the week above $89,000 to signal an end to the short-term downtrend, says a crypto analyst.“The only way for Bitcoin to confirm that the bottom is actually in would be to close a weekly back above $89K,” crypto analyst Matthew Hyland said in a video posted to X on March 13. Without $89,000 close, Bitcoin may head toward $69,000Bitcoin (BTC) last traded at $89,000 on March 7, a level Hyland considers crucial since it was the support area where Bitcoin ultimately ended up “breaking down below.” After falling below $89,000, it dropped to $78,523 on March 11 before stabilizing in the low $80,000s.With Bitcoin currently trading at $83,406, a move above $89,000 would liquidate approximately $1.60 billion in short positions, as per CoinGlass data.Bitcoin is down 15.42% over the past month. Source: CoinMarketCapIf Bitcoin fails to close above it, Hyland warned the asset’s price could drop to between $74,000 to $69,000, a level Bitcoin hasn’t seen since November.“It probably is likely at this point that going into the coming weeks or the coming months, Bitcoin will likely test this lower range at some point of support,” he said.“If we do get a weekly close above this area, I think the low is in for Bitcoin, and we are not going down to this area,” he said. Hyland said that it typically leads to further upside when Bitcoin breaks above a resistance level.Bitcoin demand in the US has declinedHowever, demand for Bitcoin in the US has been declining recently due to macroeconomic factors.Bitcoin’s demand fell by 103,000 BTC last week compared to the previous week, “marking its fastest pace of contraction since July 2024,” according to CryptoQuant. Related: Bitcoin high-entry buyers are driving sell pressure, price may ‘floor’ at $70KCryptoQuant said the recent decline in Bitcoin’s demand in the US was due to uncertainty around US inflation rates and US President Donald Trump’s imposed tariffs on Feb. 1. On March 7, Federal Reserve chair Jerome Powell reiterated that he was in no hurry to adjust interest rates.Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s whyThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Ethereum’s native token, Ether (ETH), has dropped to its multi-year lows against Bitcoin (BTC), prompting analysts to predict further declines in the coming weeks.Falling knife warning furthers sell-off risks On March 13, ETH/BTC—a pair that tracks Ether’s strength against Bitcoin—dropped by over 1.50% to reach $0.022, its lowest level since May 2020.ETH’s descent is part of its multi-year downtrend that started when it established a record high of $0.156 in June 2017. Since then, it has plunged by more than 85%, underscoring Ether’s growing weakness against Bitcoin.Meanwhile, on the two-week ETH/BTC chart, the relative strength index (RSI), a momentum indicator used to measure whether an asset is overbought or oversold, has fallen to a record low of 23.32.ETH/BTC two-week price chart. Source: TradingViewTypically, when RSI drops below 30, it signals oversold conditions, potentially leading to a price rebound. However, in Ethereum’s case, RSI has continued to plunge even lower even two months after becoming oversold, suggesting that ETH’s downtrend is still accelerating rather than stabilizing.Crypto analyst Alessandro Ottaviani has described the situation as a “falling knife” scenario—a term used to describe an asset that is experiencing a rapid and steep decline, often discouraging buyers from stepping in too soon. A falling knife implies that attempting to catch the asset at a perceived low could lead to further losses if the downtrend persists.For Ethereum to signal a potential reversal, traders will be watching for RSI stabilization and reclaim of key resistance levels. That ideally begins with a rebound from the 0.022 BTC level, which had limited ETH/BTC’s downside attempts in December 2020, leading to a 300% rally.ETH/BTC weekly price chart. Source: TradingViewShould a rebound happen, the ETH/BTC pair can rally toward its 0.382 Fibonacci retracement line at around 0.038 BTC, aligning with the 50-week exponential moving average (50-week EMA; the red wave).Until then, the technical outlook suggests that ETH/BTC could remain trapped in its falling knife trajectory, with the next potential downside targets at historical support levels inside the 0.020-0.016 BTC range.ETH/BTC two-week price chart. Source: TradingViewThe lowest point of this range is approximately 30% below the current price levels.ETH/BTC fundamentals support a bearish outlookEther’s prospects of declining further against Bitcoin are rooted in factors beyond technical analysis. For instance, Ethereum currently faces strong competition from rival layer-1 blockchains, namely Solana (SOL). Related: ‘The worst thing that happened to Ethereum’ — Bitcoin up 160% since the MergeVanEck noted that Solana’s decentralized exchange volume has surpassed Ethereum’s even during a steep dropoff in memecoin trading activity. Meanwhile, Solana’s volume has risen consistently in recent months, which coincides with a decline in Ethereum’s volumes.Solana vs. Ethereum DEX volumes. Source: VanEckFurthermore, the launch of spot Bitcoin ETFs has fundamentally altered the traditional crypto market cycle that used to benefit Ethereum and other altcoins.Historically, after Bitcoin surged post-halving, capital rotated into altcoins, triggering an “altseason” where ETH and other assets outperformed BTC. However, the $129 billion inflows into Bitcoin ETFs in 2024 have disrupted this cycle, draining liquidity from the broader altcoin market—including Ethereum.Bitcoin Dominance Index weekly price chart. Source: TradingViewAnother factor is Ethereum-specific selling pressure. The recent Bybit hack reportedly led to substantial ETH liquidations, with some of that value laundered via decentralized platforms like Thorchain. This absorbed sell-off may still be rippling through the market, depressing ETH’s relative value.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

At least three crypto founders have reported foiling an attempt from alleged North Korean hackers to steal sensitive data through fake Zoom calls over the past few days. Nick Bax, a member of the white hat hacker group the Security Alliance, said in a March 11 X post the method used by North Korean scammers had seen millions of dollars stolen from suspecting victims. Generally, the scammers will contact a target with a meeting offer or partnership, but once the call starts, they send a message feigning audio issues while a stock video of a bored venture capitalist is on the screen; they then send a link to a new call, according to Bax. Having audio issues on your Zoom call? That’s not a VC, it’s North Korean hackers. Fortunately, this founder realized what was going on.The call starts with a few “VCs” on the call. They send messages in the chat saying they can’t hear your audio, or suggesting there’s an… pic.twitter.com/ZnW8Mtof4F— Nick Bax.eth (@bax1337) March 11, 2025“It’s a fake link and instructs the target to install a patch to fix their audio/video,” Bax said. “They exploit human psychology, you think you’re meeting with important VCs and rush to fix the audio, causing you to be less careful than you usually are. Once you install the patch, you’re rekt.” The post prompted several crypto founders to detail their experiences with the scam.Giulio Xiloyannis, co-founder of the blockchain gaming Mon Protocol, said scammers tried to dupe him and the head of marketing with a meeting about a partnership opportunity.  However, he was alerted to the ruse when, at the last minute, he was prompted to use a Zoom link that “pretends to not be able to read your audio to make you install malware.”“The moment I saw a Gumicryptos partner speaking and a Superstate one I realized something was off,” he said. Source: Giulio XiloyannisDavid Zhang, co-founder of US venture-backed stablecoin Stably, was also targeted. He said the scammers used his Google Meet link but then made up an excuse about an internal meeting, asking him to join that meeting instead.“The site acted like a normal Zoom call. I took the call on my tablet though, so not sure what the behavior would’ve been on desktop,” Zhang said. “It probably tried to determine the OS before prompting the user to do something, but it just wasn’t built for mobile Oses.” Source: David ZhangMelbin Thomas, founder of Devdock AI, a decentralized AI platform for Web3 projects, said he was also hit with the scam and was unsure if his tech was still at risk.  “The same thing happened to me. But I didn’t give my password while the installation was happening,” he said. “Disconnected my laptop and I reset to factory settings. But transferred my files to a hard drive. I have not connected the hard drive back to my laptop. Is it still infected?” Related: Fake Zoom malware steals crypto while it’s ‘stuck’ loading, user warnsThis comes after the US, Japan and South Korea on Jan. 14 issued a joint warning against the growing threat presented by cryptocurrency hackers associated with North Korean hackers. Groups such as the Lazarus Group are prime suspects in some of the biggest cyber thefts in Web3, including the Bybit $1.4 billion hack and the $600 million Ronin network hack.The Lazarus Group has been moving crypto assets using mixers following a string of high-profile hacks, according to blockchain security firm CertiK, which detected a deposit of 400 Ether (ETH) worth around $750,000 to the Tornado Cash mixing service. Magazine: Lazarus Group’s favorite exploit revealed — Crypto hacks analysis

North Korean-affiliated hacking collective the Lazarus Group has been moving crypto assets using mixers following a string of high-profile hacks. On March 13, blockchain security firm CertiK alerted its X followers that it had detected a deposit of 400 ETH (ETH) worth around $750,000 to the Tornado Cash mixing service. “The fund traces to the Lazarus group’s activity on the Bitcoin network,” it noted. The North Korean hacking group was responsible for the massive Bybit exchange hack that resulted in the theft of $1.4 billion worth of crypto assets on Feb. 21. It has also been linked to the $29 million Phemex exchange hack in January and has been laundering assets ever since. Lazarus Group crypto asset movements. Source: Certik Lazarus has also been linked to some of the most notorious crypto hacking incidents, including the $600 million Ronin network hack in 2022.North Korean hackers stole over $1.3 billion worth of crypto assets in 47 incidents in 2024, more than doubling thefts in 2023, according to Chainalysis data.New Lazarus malware detectedAccording to researchers at cybersecurity firm Socket, Lazarus Group has deployed six new malicious packages to infiltrate developer environments, steal credentials, extract cryptocurrency data and install backdoors. It has targeted the Node Package Manager (NPM) ecosystem, which is a large collection of JavaScript packages and libraries.Researchers discovered malware called “BeaverTail” embedded in packages that mimic legitimate libraries using typosquatting tactics or methods used to deceive developers. “Across these packages, Lazarus uses names that closely mimic legitimate and widely trusted libraries,” they added. Related: Inside the Lazarus Group money laundering strategyThe malware also targets cryptocurrency wallets, specifically Solana and Exodus wallets, the added. Code snippet showing Solana wallet attacks. Source: SocketThe attack targets files in Google Chrome, Brave and Firefox browsers, as well as keychain data on macOS, specifically targeting developers who might unknowingly install the malicious packages.The researchers noted that attributing this attack definitively to Lazarus remains challenging; however, “the tactics, techniques, and procedures observed in this npm attack closely align with Lazarus’s known operations.” Magazine: Mystery celeb memecoin scam factory, HK firm dumps Bitcoin: Asia Express

Argentine lawyer Gregorio Dalbon has reportedly asked for a global arrest warrant to be issued for Hayden Davis, the co-creator of the LIBRA token that caused a political scandal in the country.Dalbon submitted a request to prosecutor Eduardo Taiano and judge María Servini, who are probing President Javier Milei’s involvement in the memecoin, seeking for an Interpol Red Notice to be issued for Davis, local outlets Página 12 and Perfil reported on March 11.Dalbon said in the filing that there was a “procedural risk” if Davis remained free as he could have access to vast amounts of money that would allow him to either flee the US or go into hiding.“His central role in the creation and promotion of the $LIBRA cryptocurrency, coupled with the international impact of the case, increases the likelihood that he will take steps to evade justice,” the document reportedly stated.Dalbon, who represented former Argentine president Cristina Fernández de Kirchner in her corruption case, asked for Davis’ arrest and for “an Interpol red notice [to] be issued in order to locate and arrest him, with a view to his extradition.”Interpol is the biggest international police organization and can issue Red Notices that request law enforcement agencies around the world to locate and provisionally arrest someone.LIBRA is a token that Milei shared across his social media accounts just minutes after its creation on Feb. 14, which catapulted it to a peak value of over $4 billion. The token’s creators held most of the supply and quickly sold their holdings, which caused the token’s price to crash, with many claiming the token was a pump-and-dump scheme.Hayden Davis (left) poses with Argentine President Javier Milei. Source: Javier MileiDays later, various lawyers reportedly filed fraud charges against Milei in an Argentine criminal court for promoting the token, while other lawyers reported the president for financial crimes to local authorities and to the US Justice Department.Related: Memecoins are likely dead for now, but they’ll be back: CoinGecko Milei has claimed he didn’t “promote” the LIBRA token and insisted he just “spread the word” about it. In a lengthy interview days after LIBRA’s collapse with YouTuber Stephen Findeisen, better known as “Coffeezilla,” Davis defended the token as a failure rather than a scam.Davis and his firm, Kelsier Ventures, were the biggest winners from the LIBRA token launch. He claimed to Findeisen that he netted around $100 million but said he didn’t own the tokens and wouldn’t be selling them.It was later reported that he sent a text message bragging about being able to pay Milei’s sister, Karina Milei, to have the president share the memecoin’s details on X. Davis later said he had no record of this on his phone and denied making payments to the Mileis.Magazine: Influencers shilling memecoin scams face severe legal consequences