Author: NBTC
Bitcoin price started a recovery wave above the $94,500 zone. BTC is rising within a range and might revisit the $98,000 resistance zone. Bitcoin started a decent recovery wave above the $95,500 zone. The price is trading above $96,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $96,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $96,000 zone. Bitcoin Price Recover Losses Bitcoin price formed a base above the $93,500 level and started…
Bitcoin, the flagship crypto asset, has long been nicknamed “digital gold” due to its store of value. With a market cap exceeding 1 Trillion, the crypto asset drives the price movements of basically every digital currency in the broader crypto landscape. Despite this, many have failed to tap into its rich potential due to constraints in its smart contract functionality. This is where BTCFi comes in. This phenomenon, otherwise called Bitcoin Decentralized Finance, is a feature that aims to transform Bitcoin into an active participant in the DeFi ecosystem. One platform pushing the BTCFi narrative is Core DAO. This Layer…
Will Ethereum make a bullish reversal to $2,500 as ETH price action signals a potential wedge breakout rally ahead? Ethereum fluctuates near the $1,900 level as Bitcoin holds above $81,000. Notably, Ethereum has recorded a 13% drop in the past seven days. However, a reversal pattern is emerging on the 4-hour chart, hinting at a potential bounce-back. Could this lead to a new wave of bullish momentum for Ethereum? Ethereum Price Eyes Wedge Breakout For New Recovery Wave On the 4-hour price chart, Ethereum is showing a declining trend but gaining momentum. The price drop has breached the 78.60% Fibonacci…
Crypto exchange Kraken is under fire for letting controversial Barstool Sports founder Dave Portnoy “shit on its reputation” after he launched a number of memecoins that all crashed over 99%. Throughout February, Portnoy has promoted a number of coins that have rocketed, crashed, and made thousands of dollars in the process. Among these is a token with the ticker JAILSTOOL, which he is now committed to holding after previously claiming to have sold it all by accident while using the toilet. He’s currently getting flak for launching the tokens GREED and GREED 2. Lookonchain notes that he held 35.79% of…
Despite recent acknowledgements by the Securities and Exchange Commission (SEC) on several spot crypto exchange-traded fund (ETF) applications, the agency is unlikely to make any decisions approving these products until its leadership is settled. “I would have been very very surprised if they approved any of these filings before [Paul] Atkins was confirmed at their first deadlines,” said James Seyffart, an ETF analyst at Bloomberg Intelligence. “It’s been our assumption that anything that can be pushed until Atkins is officially at the SEC, will be pushed back.” A person familiar with the matter told CoinDesk that they agree with that…
Bitcoin (BTC) price’s recent journey has been a bumpy one, with its value seeing a pullback to around $93.5K. This brings into focus the critical $91K level, which serves as the average cost basis for short-term holders. BTC Price Takes a Hit Currently, Bitcoin‘s ability to sustain above this price is crucial for maintaining the bullish sentiment that pervades the market. Should this level hold, it might restore confidence among investors, potentially setting the stage for a recovery. However, those who bought in at or above $100K are now facing unrealized losses. The decision of this group to hold or…
Liquidity issues affected users on two decentralized finance (DeFi) platforms today, though for different reasons and with widely differing consequences. In what appears to be user error, three sizable swaps of 220,000, 131,000, and 91,000 of Circle’s USDC stablecoin netted a total of just over 10,000 tethers (USDT) after falling victim to a maximum extractable volume (MEV) bot. The swaps, made via the Uniswap V3 decentralized exchange, were flagged by blockchain security firm Peckshield, which regularly alerts the DeFi community to hacks, phishing attacks, and suspicious transactions. Read more: MEV bot to return $7.5M if Rho Markets admits to oracle…
Even as Bitcoin finds some buoyancy following a better-than-expected U.S. inflation report, Ethereum has been lagging behind. Since the new CPI report landed early Wednesday, the Bitcoin price has gained 3% as it holds key support levels. Meanwhile, the Ethereum price has been playing catch up, seeing a 0.5% gain, Coingecko data shows. Tracy Jin, vice president of crypto exchange MEXC, told Decrypt that a successful implementation of Ethereum’s Petra upgrade could significantly strengthen the fundamentals of the second-largest blockchain. If the upgrade resolves issues with network throughput and transaction costs, she said, it could enhance Ethereum’s appeal and drive…
This is a segment from the 0xResearch newsletter. To read full editions, subscribe. Crypto is a volatile industry for primarily two reasons: 1) it’s permissionless (anyone can make a token) and 2) it’s still largely looking for product-market fit. What does this mean to a short-term trader looking to flip a quick buck? If you’re trying to frontrun the market, you’d want to know when a certain narrative is falling in (and out of) favor. You can then spend absurd hours doomscrolling Twitter and Telegram groups — or you can use Kaito, a Web3-focused search engine that scrapes troves of…
One of the operators of sanctioned Russian cryptocurrency exchange Garantex was arrested in India on Tuesday, according to two recent news reports. Lithuanian national and Russian resident Aleksej Besciokov, 46, was reportedly arrested by police in the Indian state of Kerala, while vacationing on the country’s southern coast with his family, Techcrunch and KrebsonSecurity reported. Last week, a coalition of international law enforcement agencies from the U.S., Germany and Finland seized Garantex’s domains and servers and froze nearly $28 million in crypto tied to the exchange with the help of stablecoin issuer Tether. The exchange was sanctioned by the U.S.…