Author: NBTC
Bitcoin’s price has been dropping rapidly over the past few days, with large red candles showing significant bearish momentum. If the market does not rebound soon from the key area it currently finds itself at, things could get much worse for the crypto market. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, the asset has been aggressively declining, breaking below the key $90K support zone. This considerable bearish move comes after a lengthy consolidation around the $100K mark, which the price has failed to continue above. Currently, the cryptocurrency is testing the 200-day moving average,…
Bitcoin (BTC) took the spotlight from the rest of the crypto market in 2024, but the Trump administration is quickly changing the rules of the game and a rotation into other assets could end up happening, according to crypto data firm Kaiko Research In fact, the decentralized finance (DeFi) sector isn’t looking too bad, Kaiko research analysts Adam McCarthy and Dessislava Aubert wrote in a new report. The company’s DeFi index (KSDEFI) has outpaced ether (ETH) since the instrument’s inception in October 2023, bringing in roughly 75% returns in that span of time. That’s remarkable considering that most of the…
As Bitcoin crashes near the $86,000 mark, Ethereum has broken the $2,400 support level. Currently, ETH trades at a market price of $2,352 after a 6.40% drop last night. ETH price reveals a 0.80% intraday recovery, hinting at a bullish struggle to hold the $2,300 support level. Amid the broader market crash, will Ethereum survive above the $2,000 mark? Ethereum Nears Falling Channel Breakdown In the daily chart, the Ethereum price trend reveals a falling channel pattern. Currently, the ETH price has dropped to the local support trendline, close to the $2,300 support level. Ethereum Price Chart With the intraday…
Bitcoin’s sharp price declines have dominated news headlines this week, but major corporate BTC holder Strategy (MSTR) has been in a downtrend for more than three months. Trading around the $250 level on Wednesday, Strategy is lower by about 55% since peaking at $543 on Nov. 21. Investors in leveraged MSTR products have suffered even greater losses. The Defiance Daily Target 2x Long MSTR ETF (MSTX) has plunged 90%, while the T-REX ETF (MSTU) has declined 85%. Despite the decline in bitcoin, Strategy’s BTC acquisition remains profitable. Since initiating purchases in August 2020, the company is up 32% on its…
The brutal sell-off in the crypto ecosystem this week is serving as a major buying incentive to Solana (SOL) whales. According to data from Lookonchain, 96,180 Solana have left the Binance exchange in one of the biggest acquisition moves thus far this week. Solana whales staking In what is considered a daring move by the community, the whale withdrew from Binance at a combined worth of $12.45 million. One interesting twist in this transaction is that the wallet that bought the Solana from Binance was created just hours ago by another anonymous wallet. However, the maiden transfer through this wallet…
Bitkub Exchange, a popular digital asset trading firm in Thailand, has announced an exclusive partnership with Mantle, an L2 blockchain ecosystem. The partnership targets to expand the adoption of DeFi and the awareness about it. The platform took to social media to announce the respective development. 💚 Bitkub Exchange is working with @Mantle_Official to Empower On-Chain Finance.🌟 Bitkub Exchange and @Mantle_Official seeks to broaden the education and adoption of decentralized finance (DeFi) and empower secure on-chain finance participation..*Disclaimer: Digital assets… pic.twitter.com/HooMXpsDwk — Bitkub.com (@BitkubOfficial) February 28, 2025 Bitkub Exchange Collaborates with Mantle to Increase DeFi Adoption As per Bitkub, the…
As Ethereum’s Pectra upgrade gets closer, Alchemy’s Will Hennessy talks about why EIP-7702 isn’t for beginners and what blockchain developers need to be aware of. Ethereum developers have announced that the highly anticipated Pectra upgrade will launch on April 8. The update will introduce new mechanisms aimed at boosting Ethereum’s transaction processing speed, reducing gas fees, and adding smart accounts that can execute multiple transactions simultaneously and even pay gas fees with different cryptocurrencies. While the update is set to go live on the mainnet in April, it has already been rolled out on Ethereum’s Holesky testnet, though the rollout…
Ardoino remarked that he envisions a financial reset that would bring fiat currencies to their knees, rendering USDT useless. In this dire situation, bitcoin will become the only alternative to avoid devaluation and hyperinflation. Tether CEO Paolo Ardoino Heralds the Eventual Death of USDT Tether CEO Paolo Ardoino has come out as a bitcoin maximalist, explaining that in a distant future, bitcoin will overcome all of its fiat pairs. In a recent podcast, Ardoino stated that in this hypothetical future, Tether’s USDT had no place. Ardoino believes that all fiat currencies will eventually sink together, falling as a consequence of…
Bitdeer has seen a flurry of activity in recent days as it makes strategic moves in the face of falling revenue and continues to move forward with long-term plans. The Singapore-based, Nasdaq-listed Bitdeer purchased 100 Bitcoin this week in two operations. It bought 50 BTC at $90,280 on Feb. 25, the same day its fourth-quarter 2024 financial report was released. On Feb. 27, it purchased another 50 BTC at $81,475 each, for a total outlay of $8,587,750. On Feb. 23, before the purchases, Bitdeer held 911 BTC. Bitdeer buys the dip, announces repurchase On Feb. 28, the company announced the…
Blockchain and Crypto have a complicated status in China: Beijing says no to crypto but yes to blockchain. It bans trading yet builds infrastructure. Now, with Hong Kong offering regulated crypto markets, insiders say a loophole is emerging. If China already allows investors to buy U.S. stocks through its Qualified Domestic Institutional Investor (QDII) program, why not bitcoin? The key, one expert argued on stage at Consensus Hong Kong, is control, and Beijing may have just found a way to keep it. In China, there are two systems for mainland investors to buy and sell stock outside China. First, there’s…