Crypto Today: Selling pressure on Bitcoin, Ethereum and XRP eases following Binance security breach

• Immediate support at $78,000 checks Bitcoin’s slide following the $6.3 billion hack at Binance.
• Selling pressure keeps Ethereum near $2,200 as weakening momentum indicators weigh on sentiment.
• Buyers return to XRP following a test of $1.20 support, though structural barriers could constrain the rebound.

Unease grips cryptocurrency markets on Friday following a reported hack affecting about $6.3 billion at Binance, the largest crypto exchange. Bitcoin (BTC) is barely defending short-term support at $78,000, while Ethereum (ETH) drifts lower near $2,200 and Ripple (XRP) seeks to rebound above the support established at $1.20.

Selling in response to the incident appeared to destabilise the wider cryptocurrency market. Over 24 hours, derivatives liquidations climbed to $1.5 billion.

How will Binance cover losses through SAFU as asset freezes continue?

Following a security breach reportedly affecting roughly $6.3 billion, Binance temporarily halted deposits and withdrawals to make room for an internal investigation and review.

According to Binance, a DevOps engineer’s laptop may have been compromised in the incident. This may have given the attacker access to a container service through which unauthorised withdrawal transactions were submitted.

In a post on X, Binance said, “We have found no evidence of any wallet private key leak,” and added, “We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.”

Approximately $3 billion on-chain is being frozen through Binance’s work with blockchain partners, including Tether, Circle and Ripple, according to updates from the exchange.

Reiterating that user assets remain safe, Binance said its Secure Asset Fund for Users (SAFU) programme, together with the company’s assets, would cover all losses.

Alongside the halt to deposits and withdrawals, Binance withdrew authorisation for the affected address. It also coordinated with law enforcement and blockchain partners to track and recover the funds.

In an update on X, Binance said, “This was a complex attack, and we are doing all we can in coordination with law enforcement to resolve it. We are still gathering the facts, and will share more directly as we have them,”

As the cryptocurrency industry matures, scams and fraud continue to pose a major challenge. ‘The Chainalysis 2026 Crypto Crime Report’ points to a 162% annual increase. Losses to cryptocurrency scams reached $14 billion on-chain, while AI-enabled schemes jumped 1,400% annually.

Technical analysis: Can Bitcoin defend its lower support levels?

A bearish near-term bias persists for Bitcoin at $78,012, with the price below the 50-day Exponential Moving Average (EMA) of $80,608. However, a closely grouped support zone, comprising the 100-day EMA at $77,825 and the longer-term 200-day EMA at $76,455, remains beneath the price. This suggests that the broader uptrend is under strain but remains intact.

Further upside faces substantial overhead supply, with the reclaimed SuperTrend level at $84,056 positioned well above the spot price. Meanwhile, the Relative Strength Index (RSI) around 36 points to continuing downside pressure, in line with the negative Moving Average Convergence Divergence (MACD) reading.

To soften the prevailing bearish tone, Bitcoin would need a daily close above its first resistance, the 50-day EMA at 80,608. Such a move would clear a path towards the SuperTrend line at $84,056. Below the current price, the 100-day EMA at $77,825 offers immediate support, ahead of a firmer structural demand zone around the 200-day EMA at $76,455. Losing the latter level would materially weaken the broader technical outlook and leave room for deeper retracements.

Technical analysis: Can Ethereum withstand mounting selling pressure?

Ethereum’s bearish phase continues at $2,231 after the price broke below its rising trendline and remained beneath a tight cluster of moving averages. Overhead, the 200-day EMA stands at $2,316, the 100-day EMA at $2,358 and the 50-day EMA at $2,435. Taken together, these levels indicate that the broader trend is still under pressure despite the recent retreat from higher levels.

Weak momentum readings support this bearish picture. The RSI has dropped to around 29, entering oversold territory, while the MACD remains below both zero and its signal line. A largely negative histogram also points to a continuing downside bias.

Any corrective rebound could encounter renewed selling first at the 200-day EMA around $2,316 and then near $2,320, the level of the earlier trendline break. Beyond these, successive resistance levels sit at the 100-day EMA of $2,358 and the 50-day EMA of $2,435, followed by a more substantial supply zone around the SuperTrend line at $2,487. The daily chart identifies no nearby structural support below the prevailing price. As a result, the pair would likely have to regain at least the cluster around the 200-day EMA to reduce immediate bearish pressure and create scope for a more lasting recovery.

Technical analysis: Can XRP buyers build on support at $1.20?

A modest recovery from near-term support at $1.25 leaves XRP trading at $1.25. This demand zone has not removed the near-term bearish bias, as the price remains well below the major EMAs and the SuperTrend line. Layered resistance comes from the 100-day EMA at $1.33, the 50-day EMA at $1.35 and the 200-day EMA at $1.37, all above the current price. At $1.41, the SuperTrend adds to the broader bearish structure.

Continued selling pressure is also evident in subdued momentum. The MACD is turning down again below zero, while the RSI, hovering around 37, has yet to reach oversold extremes.

A recovery would first meet the 100-day EMA near $1.33, followed by the 50-day EMA around $1.35 and the 200-day EMA at $1.37. Unless buyers secure a sustained breakout, the rebound would likely stall at these levels. Further overhead, the SuperTrend at $1.41 and the broader descending resistance trendline form a stronger ceiling. Reclaiming that area would be necessary to temper the bearish bias and allow a more substantial rebound.

(The technical analysis of this story was written with the help of an AI tool. Know more.)