Ethereum Price Today: Bearish Trend Returns as Fed QT Slows Momentum

TRUMP’s price has been stuck in a downtrend for the past month despite the media attention surrounding US President Donald Trump’s recent statements. The altcoin has faced difficulty breaking through the critical resistance level of $17.14. 

However, investor sentiment remains strong, and with the upcoming White House Crypto Summit, there may be a chance for recovery.

TRUMP Notes Strong Inflows

The Chaikin Money Flow (CMF) indicator shows positive signs for TRUMP, with the indicator currently above the zero line. This suggests stronger inflows than outflows, indicating that investors are optimistic about the altcoin’s future. 

Furthermore, with the White House Crypto Summit scheduled for March 7, investors are looking to capitalize on potential price movements ahead of the event. Many are likely to accumulate at low levels, anticipating the summit’s influence on both the market and TRUMP’s price.

The positive CMF reading supports the idea that investors are positioning themselves for a potential breakout. As the summit approaches, TRUMP’s price could see upward momentum. Historically, significant events like these tend to influence altcoins, especially when there’s optimism about new regulations or policy changes in the crypto space. 

TRUMP shares a strong correlation of 0.86 with Bitcoin (BTC), which suggests that the altcoin is likely to follow BTC’s lead. Given that BTC’s price is also influenced by broader market trends, TRUMP’s price could rise alongside Bitcoin if the hype around the White House Crypto Summit continues to build. 

Bitcoin’s potential rise in anticipation of the summit could lift TRUMP’s price as well. The correlation indicates that as BTC moves up, so too could TRUMP. Should the broader market experience positive momentum, both Bitcoin and TRUMP are poised for potential rallies, with TRUMP looking to benefit from increased attention during the summit.

TRUMP Price Aims At Key Barrier

Currently trading at $13.38, TRUMP is holding above the critical support level of $12.41. The altcoin remains stuck under the month-long downtrend, unable to break above the key resistance at $17.14. However, the bullish sentiment driven by the upcoming White House Crypto Summit could spark a rally for TRUMP.

The altcoin’s target would be to secure $17.14 as support. If successful, TRUMP price could note a 27% rally and push to $21.45, marking a significant recovery from its current levels. The optimism surrounding the summit could provide the necessary catalyst for this price movement.

On the other hand, if the altcoin fails to break through the downtrend and the market sentiment weakens, TRUMP could drop below its support of $12.41. This would lead to a decline to $11.07, its current all-time low (ATL), or possibly lower, invalidating any bullish outlook.

The post TRUMP Price Eyes Breakout Ahead of White House Crypto Summit appeared first on BeInCrypto.

Crypto scams are surging as more people flock to digital currencies, with fraudsters exploiting the industry’s rapid growth to deceive investors.

Recently, numerous crypto users reported receiving fraudulent emails claiming that the Gemini exchange had filed for bankruptcy. Meanwhile, Coinbase Exchange has admitted that an employee illegally accessed user account information.

Gemini Exchange Addresses Bankruptcy Allegations

Multiple accounts highlighted the scam on social media, indicating that an email circulating falsely claims that Gemini has filed for bankruptcy. The email instructed users to withdraw to an Exodus wallet and provided a seed phrase.

These phishing emails, shared on April 1, urged recipients to withdraw their funds into a specified crypto wallet to protect their assets. This was an attempt to deceive users into transferring their cryptocurrencies to wallets controlled by scammers.

“Do not follow these directions. Please retweet to protect those that may have been doxxed and sent this email,” wrote Jason Williams, a contributor to Fox Business.

The deceptive emails alleged a substantial loss of $1.2 billion by Gemini Exchange. Understandably, some novice investors would heed this email and even move their assets to the address. After all, some victims of FTX Exchange contagion continue to pursue their funds even years after the incident.

“I got one also. It is better than your typical ‘Coin Base’ one, but still not quite there. Might fool a boomer though,” one X user remarked.

However, security experts advise users to always verify information through official channels, avoid clicking on unsolicited links, and refrain from sharing personal data. Gemini issued an official warning in response to the scam, acknowledging the threat against its users.

“We recently learned that some Gemini customers are being targeted with scam emails requesting users to transfer their crypto to outside wallets. Please be aware that Gemini will never request that you send crypto to outside wallets,” the exchange articulated.

Coinbase Admits Employee Illegally Accessed User Account Data

Coinbase exchange acknowledged a privacy violation by one of its staff in a somewhat related development. Specifically, a customer service employee accessed user account information without authorization.

This breach has raised concerns about potential scams targeting Coinbase users. Mike Dudas, a crypto investor and co-founder at The Block, shared an email from Coinbase acknowledging the incident.

“That explains the fake Coinbase phishing emails and phone calls today,” he stated.

This breach coincides with reports of phishing attempts, as users have received fake emails and calls purporting to be from Coinbase. These incidents reflect a broader wave of crypto-related fraud.

Blockchain investigator ZachXBT reported that Coinbase users lost over $65 million to social engineering scams between December 2024 and January 2025.

“Coinbase did not detect it; I sent them the intel,” the blockchain investigated noted.

Additionally, crypto analyst Cobie suggested Kraken might be experiencing a similar issue. Per his post, a new attack may be budding, where attackers infiltrate customer service roles to exfiltrate data.

“Kraken also recently hit with this too. Maybe a new scheme from attackers (get a CS agent employee in, exfil data),” the analyst remarked.

Amidst these events, ZachXBT recently explained how to avoid crypto scams. He emphasizes the importance of conducting thorough research before engaging with new DeFi protocols, especially those forked from existing projects on newly launched EVM chains.

Additionally, he advises caution when dealing with projects with few credible followers, as these may indicate potential scams.

Therefore, it is imperative that users remain vigilant against sophisticated phishing scams and unauthorized data breaches.

The post Crypto Scams on the Rise: Gemini and Coinbase Customers Warned appeared first on BeInCrypto.