Author: NBTC

Key takeaways: Bitcoin derivatives show resilience despite bearish pressure from Strategy’s Bitcoin sales. Onchain Bitcoin data points to sellers’ exhaustion, strengthening the $60,000 support level. Bitcoin price quickly recovered from the selloff to $61,300 that followed Strategy’s Bitcoin sale announcement. Despite the negative impact on traders’ sentiment, the additional $216 million cash position eased concerns about the company’s ability to pay dividends and cover its debt. Does the quick recovery suggest that Bitcoin bulls back in control? Bitcoin perpetual futures annualized funding rate. Source: Laevitas The Bitcoin perpetual futures annualized funding rate jumped to 9% on Monday, indicating balanced demand…

Ethereum has had a notable recovery from its June lows, reclaiming an important resistance zone while testing a major descending trendline on the higher timeframe. Although the latest rally has strengthened short-term sentiment, $ETH is still approaching a cluster of technical barriers that could determine whether the recovery extends above $2K or transitions into another corrective phase. Ethereum Price Analysis: The Daily Chart On the daily timeframe, $ETH has been trading within a broad descending channel that has defined price action for several months. The recent rebound from the $1.5K demand zone allowed the asset to reclaim the $1.8K support…

Ripple’s CTO Emeritus, David Schwartz, has joined in on a fresh debate about crypto network fees after an old $XRP discussion resurfaced, sparking reactions across the $XRP community. The debate was triggered by a fresh post from the same X user who issued the 2024 $XRP commentary that referenced a Forbes article discussing Ripple’s and $XRP’s early vision to offer low-cost payment solutions. David discusses crypto network fees The post, which looked back at Ripple’s growth journey, pointed at how early blockchain leaders Jed McCaleb, Arthur Britto, and David Schwartz envisioned $XRP as part of a new financial system focused…

Coinbase CEO Brian Armstrong has rejected calls for a new AI self-regulatory body, arguing that existing laws already provide enough protection against harmful AI. His remarks came just a day after the crypto exchange disclosed that AI now writes over 95% of its code, more than twice the figure the company reported earlier in the year. Armstrong Says Existing Laws Already Cover AI Risk It all started with a proposal from Google DeepMind CEO Demis Hassabis on July 14, where he called for the creation of a federally overseen standards body to test and certify frontier AI models before they…

Prediction markets logged billions but did not take the same side France’s surprise World Cup elimination delivered a favorable result for major sportsbooks after Spain defeated the tournament favorite 2-0 in Tuesday’s semifinal. Draftkings and Betmgm told Front Office Sports that France represented their largest remaining liability in the outright winner market, while Fanduel said France had attracted the most money among the teams still alive before kickoff. Betmgm’s exposure was even more concentrated on the semifinal itself. The operator reported that 94% of the money in its qualification market backed France to reach the final. Mbappé was also the…

The White House’s chief crypto adviser, Patrick Witt, and his predecessor in that role had both said that they’ll need Congress to fully back up the formation and activation of the crypto funds. Presidential orders don’t carry the weight of law, and no legislation has yet advanced, though such efforts have simmered among lawmakers in both the Senate and House of Representatives, And if Republicans lose the majority in the House or both chambers in this year’s midterm elections, it’s unlikely such a bill will formalize Trump’s concept anytime soon. Read More: Those who cheered U.S. Bitcoin reserve have spent…

Arthur Hayes reinforced the Ethereum accumulation narrative after Lookonchain reported that he purchased 1,293 $ETH worth approximately $2.48 million. Source: Lookonchain The transaction followed another notable move, where a separate whale transferred 21.3K $ETH valued at about $40.95 million from Fidelity Custody into a newly created on-chain wallet. Source: Onchain Lens Rather than signaling exchange withdrawals, the transfer reflected capital moving from traditional institutional custody onto decentralized rails. This shift suggested the holder intended to deploy the assets on-chain or maintain direct custody. Together, both transactions highlighted growing confidence among large investors despite Ethereum trading below the psychological $2,000 barrier.…

As the world’s most powerful economy and the widely regarded leader of the free world celebrates its 250th Independence Day, various initiatives are emerging to contribute in some way, including one from Ripple. The company behind the popular $XRP altcoin announced that it has joined a nonprofit helping unemployed veterans to get high-quality jobs after their military service. The organization, called Call of Duty Endowment, said it has already funded over 165,000 veterans, but explained that there’s still a high unemployment rate among the younger generation, which means that there’s “still more work to do.” It wants to find jobs…

Proposal calls age estimation facial recognition Rep. Josh Gottheimer (NJ-5) introduced the bipartisan proposal on Wednesday with eight original cosponsors, seeking federal facial age checks across online sportsbooks and prediction markets. The Facial Recognition to Protect Children Act would require platforms to verify a user’s age either when the person logs in or before a wager or trade is placed. The bill’s original co-sponsors are Reps. Jeff Van Drew, Nick LaLota, Kristen McDonald Rivet, Jimmy Panetta, Darren Soto, Tom Suozzi, Ritchie Torres and Bruce Westerman. Gottheimer’s office said the technology would read facial structure and patterns to estimate a user’s…

BlackRock, the world’s largest asset manager with over $10 trillion in assets under management, has moved a significant amount of cryptocurrency off the Coinbase Prime exchange platform. According to data from blockchain analytics firm Onchain Lens, the firm withdrew 1,246 Bitcoin (BTC), valued at approximately $80.6 million, and 3,542 Ethereum ($ETH), worth roughly $66.9 million, from the exchange. Understanding the Withdrawal In the cryptocurrency market, large-scale withdrawals from exchanges are generally interpreted as a signal that the holder intends to store the assets in self-custody or a cold wallet for the long term, rather than keeping them available for trading.…