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Ethereum Reclaims $2K Level, Bitcoin Recovery Halted at $72K: Weekend Watch

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BTCUSD Feb 7. Source: TradingView


Meanwhile, XRP and SOL are among the top performers today, with notable increases following the latest market crash.

Bitcoin’s price volatility only intensified at the end of the business week as the asset dumped to a multi-month low before it staged an impressive five-digit recovery that was stopped at $72,000.

Most altcoins are well in the green on a daily scale, but the weekly charts are still painful. Nevertheless, many have bounced off the multi-year lows they posted yesterday.

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BTC Stopped at $72K

There’s no valid way to sugarcoat what happened in the crypto markets in the past week or so. Just last Saturday, the primary digital asset dumped from $84,000 to under $76,000 in what’s usually a highly uneventful day. Although that was a painful crash on its own, it wasn’t the end of BTC’s struggles.

The asset dipped once again to under $74,000 at the beginning of the business week, but the actual calamity took place on Thursday and culminated on Friday morning.

At the time, BTC plummeted by approximately $17,000 in just over 24 hours from $77,000 to $60,000, which became its lowest price tag since before the US elections in late 2024. After liquidating thousands of traders for billions of dollars, the move south was finally exhausted, and bitcoin actually went on the offensive on Friday evening.

The peak came at almost $72,000, which was tapped on a couple of occasions, but BTC couldn’t break through it. Just the opposite, it was stopped and driven south to $68,000, where it currently sits.

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Its market capitalization is down to $1.360 trillion on CG, while its dominance over the alts has slipped to 56.6%.

BTCUSD Feb 7. Source: TradingView
BTCUSD Feb 7. Source: TradingView

Alts Try to Rebound

Ethereum was among the poorest performers during the overall crash, dumping from more than $3,000 to under $2,700 in just over a week. It has bounced since then to $2,010 as of press time. SOL, BCH, XMR are also well in the green, followed by XRP, TRX, DOGE, and ADA.

In contrast, the recent high-flyer HYPE has dropped by almost 5% daily and now sits below $33. PUMP and WLFI are also in the red from the larger caps.

The total crypto market cap has recovered over $100 billion since its multi-year bottom on Friday morning and is up to $2.4 trillion on CG.

Cryptocurrency Market Overview Feb 7. Source: QuantifyCrypto
Cryptocurrency Market Overview Feb 7. Source: QuantifyCrypto
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Crypto World

White House App Sparks Privacy Fears Over Tracking and Data Collection

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Business, Technology, Privacy, Adoption, White House, Applications

A new app from the US government has sparked concerns among users and researchers over potential location-tracking features, security vulnerabilities and data collection.

The White House launched the app on Friday as a way for users to get a “direct line to the White House,” including receiving breaking news alerts on major government announcements, watching livestreams and keeping up to date on “policy breakthroughs.”

However, users on X have raised concerns about the permissions required to use the app, including access to the device’s location, shared storage and network activity, though these claims have not been independently verified.

While many apps often request location permissions and can log user data, an app launched by the federal government requesting this information can invite additional concerns. 

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However, both listings on the Google Play Store and Apple’s App Store currently do not display these warnings.

A White House app privacy policy said it automatically stores information about the originating Internet Protocol (IP) address and other basic information, while it can retain names and email addresses of subscribers, though these are not required to use the app.

Business, Technology, Privacy, Adoption, White House, Applications
Source: Tyler Oakley

Cointelegraph has contacted the White House for comment.

Security engineer says GPS tracking is part of the app

On the app’s Google Play Store page, it states that personal data, including phone numbers and email addresses, may be collected through download and use. Apple’s App Store, meanwhile, directs users to the White House’s privacy policy.

A software developer using the X handle Thereallo, along with Adam, a security engineer and infrastructure architect, say they have identified code suggesting the app could access a device’s GPS for tracking.

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While the feature is common across a number of apps, Adam said it is unusual for location-tracking services to be in software that does not appear to need them.

“There is no map, no local news, no geofencing, no events near you, no weather. Nothing in the app that requires location,” he added.

Concerns of GPS tracking every 4.5 minutes

Thereallo made a similar claim that the app includes code that could enable tracking a device every 4.5 minutes in the foreground and 9.5 minutes in the background, though this has not been independently verified.

Business, Technology, Privacy, Adoption, White House, Applications
Source: Thereallo

They found that it still requires permission but warned that it is only “one call away from activating,” and that the tracking “infrastructure is there, ready to go.”

Related: Trump advisory council draws Coinbase co-founder, tech leaders

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At the same time, Thereallo said the app is collecting other data such as notification interactions, in-app message clicks and phone number.

Security could be broken, researcher says

Adam said the app’s security may also be weak enough for a technically skilled person to intercept its data or alter its functionality

“Anyone on the same Wi-Fi network, say, at a coffee shop, an airport, or a congressional hearing room, can intercept API traffic with a proxy. Anyone with a jailbroken device can hook and modify the app’s behavior at runtime,” he said.

“No servers were probed. No network traffic was intercepted. No DRM was bypassed. No tools were used that require jailbreaking. Everything described here is observable by anyone who downloads the app from the App Store and has a terminal.”

Magazine: Morgan Stanley Bitcoin ETF undercuts BlackRock, SBF pardon unlikely: Hodler’s Digest, Mar. 22 – 28

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