Author: NBTC

Unusual trading activity has been detected on South Korea’s largest cryptocurrency exchange Upbit, particularly in altcoins such as Bitcoin Gold (BTG), Aave (AAVE), Theta Network (THETA), Pyth Network (PYTH), and Tezos (XTZ). On the 1-hour chart, Bitcoin Gold saw a significant increase in trading volume on Upbit. The average volume over the last 50 hours was $4,000, while the latest hourly increase was $13,000, representing a 217.26% increase. On Binance, the trend reversed, with volume dropping by 28.60% from $27,000 to $19,000. Aave saw a 225.80% increase in volume on Upbit, rising from an average of $419 to $1,000 in…

The United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced sanctions against individuals and entities linked to a Russian money laundering network that used Tether (USDT) and other cryptocurrencies to facilitate illicit transactions. The sanctions, part of a joint effort with the United Kingdom and the United Arab Emirates, aim to dismantle the network’s activities. The network, allegedly operated by Ukrainian national George Rossi, was centered around the TGR Group, which reportedly provided services such as cash-to-crypto exchanges, prepaid card solutions, and assistance for Russian citizens to acquire property in the UK. OFAC has imposed…

On Dec 11, the U.S. Senate Banking Committee will decide whether to renominate Caroline Crenshaw, a Democrat Securities and Exchange Commission (SEC) commissioner. Crenshaw has always been a staunch critic of cryptocurrencies and the crypto community is not happy with the prospect of her re-election. Crenshaw is ‘anti-crypto,’ says Coinbase COO Crenshaw, who was sworn into her role in August 2020, was one of two SEC commissioners who opposed the approval of spot Bitcoin exchange-traded funds (ETFs) in January. In her letter dissenting from the SEC’s decision, which Crenshaw called “unsound and ahistorical,” she wrote: “I fear that today we…

Analyst and trader Kevin Svenson is leaning bullish on Bitcoin (BTC) as the flagship crypto asset breaks out from a bullish reversal structure. In a video update, Svenson tells his 79,800 YouTube subscribers that Bitcoin appears to have formed a falling wedge pattern on the four-hour chart. A falling wedge formation is a bullish reversal pattern suggesting that a leg up is in sight amid declining seller momentum. According to Svenson, the completion of the falling wedge pattern could mark a local bottom for Bitcoin. “As long as the stock market remains stable, I think Bitcoin should be near completion…

The Central Bank of Iran (CBI) has approved a regulatory framework for the cryptocurrency industry in the country. According to sources, the bank’s approval of the ‘Policy and Regulatory Framework for Cryptocurrencies’ puts it in the role of the industry’s regulator in the country, with the responsibility of regulating and balancing its oversight with economic development. The framework details providing licenses to brokers and crypto custodians, which will be overseen by the CBI. The bank will also ensure that these firms follow anti-money laundering (AML), crypto tax, and counter-terrorism financing (CTF) laws. According to the CBI’s governor, Mohammadreza Farzin, the…

Analysts at QCP Capital are optimistic about a potential “Uptober” rally for Bitcoin, provided that Bitcoin can stay above the critical $60,000 support level. Analysts voiced their views as U.S. stock markets surged and the S&P 500 hit a new high. QCP Capital analysts added: “US stocks are on the rise with the S&P 500 making a new high, but the same level of optimism is yet to be seen in crypto. However, we are hopeful for an ‘Uptober’ rally as long as the key $60,000 support level remains intact.” In early trading today, the Dow Jones Industrial Average was…

Today, ApeCoin, DeepBook, and Math tokens witnessed significant price gains in the crypto market. Notably, ApeCoin surged by a remarkable 75.3%, topping the list of daily gainers. Phoenix, a crypto analytical platform, shared the details of the crypto gainers of the day through its official social media platform, X. DAILY GAINERS$APE +75.3% $DEEP +59.3% $MATH +52.0% #API3 +34.4% $BBL +28.6% $TOMI +28.4% $DIA +24.2% $TRIBL +20.5% $ALEPH +19.5% $NGL +17.6%#dailygainers pic.twitter.com/ksmHJtBpNX — PHOENIX – Crypto News & Analytics (@pnxgrp) October 20, 2024 ApeCoin Leads with a 75.3% Surge ApeCoin ($APE) made headlines today with a 75.3% price spike, reaching $1.37…

With the Trump transition team continuing to make headlines, recently with the nomination of Paul Atkins to serve as SEC Commissioner, the excitement and optimism around bitcoin and crypto continues to increase. As the token itself exceeded the $100,000 level, XRP rebounds to fresh-all-time highs following years of languishing due to SEC legal actions, and talks of strategic bitcoin reserves evolve, crypto policy advocates are justifiably looking forward to 2025. That said, the reality remains that U.S. financial markets are not only incredibly large and complicated, but are also integral to the smooth functioning of global financial markets. Any tinkering…

There is an index that seems to be able to help identify some movements in the price of Bitcoin in advance. At the base of this (inverse) correlation, however, there is no clear dynamic, but only the observation that in the past it has already happened several times that a movement in one direction of this index was followed a few days later by a movement in the opposite direction of the price of Bitcoin. This, for example, also happened this week. Therefore, monitoring this index does not provide certainty regarding the future movements of the Bitcoin price, but in…

Elon Musk has presented a blunt solution to revamp the United States economy and tackle its growing trade deficit: transition workers from what he describes as “low to negative productivity” government jobs into high-output roles in the private sector. The Tesla CEO argues this is the only way to truly strengthen the economy by focusing on tangible output. His remarks came after his appearance on Capitol Hill, where he and biotech entrepreneur Vivek Ramaswamy discussed plans to slash federal spending and overhaul the bureaucracy. The two were appointed by President-elect Donald Trump to lead the Department of Government Efficiency (D.O.G.E.),…