Sonic hopes its new AI tool will make Web3 development more accessible.

Sonic unveils Spark, AI tool to build Web3 apps with no code

The cybersecurity exploit occurred due to a &#8220;sophisticated server breach,&#8221; 
CoinDCX CEO and co-founder Sumit Gupta announced on Saturday.

Indian crypto exchange CoinDCX hacked, $44 million drained

While the crypto world buzzed over the 80,000 bitcoins from 2011 shuffled 
around by an old-school whale this week, a few other longtime holders quietly 
joined the action, shifting hefty amounts of their own—all while the price 
held steady well above the $116,000 mark. Sleeping Wallets Come Alive in July 
as Bitcoin Holds Above Key […]

Early BTC Adopters Move Millions in Bitcoin as Prices Stay Strong

The breach highlights the ongoing cybersecurity challenges in the crypto 
industry, emphasizing the need for robust security measures and vigilance.
The post India’s largest crypto exchange CoinDCX hacked, breach limited to 
internal wallet appeared first on Crypto Briefing.

India’s largest crypto exchange CoinDCX hacked, breach limited to internal wallet

The crypto market was a story of two distinct halves, one of which saw the 
Bitcoin price soar to multiple all-time highs. After reaching its all-time 
high of around $122,800, the premier cryptocurrency has succumbed to a 
sobering wave of bearish pressure in the past few days. This recent wave of 
downward pressure was precipitated by the movement of a Satoshi-era whale on 
Thursday, July 17. However, the Bitcoin price never seemed likely to cross the 
$123,000 level, and a prominent on-chain expert on X has explained why. Is The 
Move To $143,000 Still Possible? In a recent post on the social media platform 
X, Alphractal CEO &amp; founder Joao Wedson explained why the price of BTC failed 
to break the $123,000 level during its rally to a new all-time high in the 
past week. According to the crypto expert, this seeming loss of momentum could 
spell danger for the market leader in the short term. Related Reading: Bitcoin 
Sees Long-Term Holders Sell As Short-Term Buyers Step In – Sign Of Rally 
Exhaustion? The rationale behind this prediction is that the $123,000 region 
(or more precisely, $123,370) is the second Alpha Price level for the Bitcoin 
price. For context, the Alpha Price is a powerful on-chain indicator that uses 
several key metrics to estimate where the BTC price is likely to find support 
or resistance. In essence, the Alpha Price is a level that the price of 
Bitcoin needs to breach and stay above to enter the next significant phase of 
the bull cycle. &#8220;It begins by calculating the market’s age in days and uses 
that to derive the average market cap—essentially the historical valuation 
baseline,&#8221; Wedson added about the indicator. As shown in the chart above, the 
Alpha Price indicator has multiple threshold levels, which behave like 
pressure regions. These thresholds reflect zones where investor sentiment is 
likely to shift; lower levels act as supports because investors often buy to 
defend their positions, while upper levels signal increased selling pressure 
due to profit taking. Wedson noted that the Bitcoin price failing to breach 
the second Alpha Price level doesn&#8217;t imply that the market top is in. However, 
the $123,370 region is a clear resistance zone, and the BTC price might need 
to face some pullback before climbing to new highs. Wedson also mentioned that 
the Alpha Price level will update on Saturday, July 19, as it&#8217;s dynamically 
adjusted based on real-time on-chain transaction flows. Nevertheless, if the 
Bitcoin price does break this level, a move to above $143,000 could still be 
on the cards. Bitcoin Price At A Glance As of this writing, the price of BTC 
stands at around $117,610, reflecting an over 2% decline in the past 24 hours. 
Related Reading: Whales? No, Newbies: Surge In New BTC Holders Fuels Market 
Rally—Study Featured image from iStock, chart from TradingView

Why Bitcoin Price Failed To Break $123,000 In The Past Week — Analyst Explains

A massive 50,600 ETH, worth approximately $181 million, has flowed from HTX, 
where Justin Sun is an advisor, to Binance. According to blockchain analyst 
EmberCN, the transfer follows a pattern where Ethereum (ETH) is redeemed from 
Aave by HTX Recovery…