Author: NBTC
Bitcoin now trades at a critical juncture as it continues to trend lower while showing signs of potential volatility ahead. In this latest bitcoin price news, veteran trader Peter Brandt pointed out that Bitcoin (BTC) remains in a sequence of lower highs and lower lows. According to Brandt, BTC must close above a key level to reverse this trend and kickstart an uptrend. Lower Highs Dominate BTC Price Action Bitcoin’s daily price chart shows a pattern of descending highs that have dominated price action over the past six months. Bitcoin reached an all-time high of $73,666 in March 2024, which…
Shibarium, the layer-2 solution, is set to launch a hard fork with a new version of Bor, the network’s core component. Notably, it will introduce a burn mechanism. The burn mechanism will be directly linked to base transaction fees. The majority of these fees (70%) will be converted to SHIB tokens and removed from circulation. In such a way, it will be possible to decrease the total supply of SHIB tokens, thus potentially boosting the token’s price. The remaining share of the base fees will be allocated toward ecosystem development. As reported by U.Today, Shibarium completed its previous hard fork…
The top officials at the crypto think tank Coin Center are leaving as the group celebrates its first decade. Executive Director Jerry Brito and Senior Policy Counsel Robin Weisman are out at the end of the year, and Peter Van Valkenburgh will take the helm. Jerry Brito, the founding executive director of the venerable-for-crypto advocacy and research organization Coin Center will step down by the end of the year, he wrote in a post on the group’s website, adding that he’ll be retaining a board seat. The same goes for Robin Weisman, Coin Center’s senior policy counsel, who will also…
An analyst and trader is leaning bullish on Bitcoin (BTC) amid a 13% gain by the flagship crypto asset in two weeks. The analyst pseudonymously known as Rekt Capital tells his 89,500 YouTube subscribers that Bitcoin is on the cusp of surging higher. “This really is the current breakout moment for Bitcoin to really start transitioning into the parabolic phase of the cycle… …so we have a handful of days left for this transition between the re-accumulation phase and the parabolic phase of the cycle for us to actually effectively transition into that breakout period.” The pseudonymous analyst says, however,…
Taiwan’s financial regulator, the Financial Supervisory Commission (FSC), now allows professional investors to invest in foreign virtual asset ETFs through a re-entrustment method, according to a Monday press release from the FSC. Re-entrust investments refer to the process where investors delegate their investment decisions or management to another party, here a sub-brokerage or a fund manager that specializes in virtual assets. The latest move is part of the FSC’s effort to diversify product offerings and boost the re-entrustment business of the nation’s securities firms, the agency noted. Due to the high investment risks associated with these crypto-related ETFs, the FSC…
On-chain data shows the XRP sharks and whales have expanded their holdings to a new all-time high (ATH) with a 10% jump in August. XRP Wallets With 10 Million To 100 Million Tokens Have Set A New Record According to data from the analytics firm Santiment, the XRP sharks and whales have sharply increased their holdings recently. The indicator of relevance here is the “Supply Distribution,” which tells us about the total amount of the cryptocurrency that a given wallet group is holding right now. Addresses or investors are divided into these cohorts based on the number of coins that…
Today, enjoy the Lightspeed newsletter on Blockworks.co. Tomorrow, get the news delivered directly to your inbox. Subscribe to the Lightspeed newsletter. In a Friday news dump, the SEC announced that it had settled its case with Mango Markets, a Solana-based DeFi platform that the SEC claims was trafficking in unregistered securities. As part of the deal, Mango DAO and the related Blockworks Foundation (which, as funny as that would be, is not the same as the Blockworks media company sending you this newsletter) will have to pay up “nearly $700,000” in penalties and destroy their MNGO while also removing the…
The post-Fed risk-on rally supports the normalization narrative. Some indicators, like the unemployment rate, the ratio between leading and lagging economic indicators, and the gold-oil ratio, disagree, pointing to an impending slowdown. Since the U.S. Federal Reserve (Fed) cut rates by 50 basis points a week ago, the debate has been raging on whether the so-called easing represents the normalization of an overly tight monetary policy aimed at taming inflation or preparation for an impending economic swoon. Risk assets, including pure fiat liquidity plays like bitcoin (BTC) and altcoins, have rallied since the Fed decision, a sign that markets perceive…
CoinShares Report: Digital Asset Investment Products See $1.228 Billion in Weekly Inflows In a remarkable display of renewed confidence in the digital asset market, a recent CoinShares report revealed that digital asset investment products attracted a staggering $1.228 billion in inflows last week. This marked the third consecutive week of strong inflows, underscoring growing optimism in the sector as global markets respond to shifting economic and monetary conditions. Bitcoin and Ethereum Lead the Charge Unsurprisingly, Bitcoin (BTC) remained the top choice for investors, accounting for the lion’s share of the inflows. According to CoinShares’ Digital Asset Fund Flows Weekly Report,…
Floki [FLOKI] is struggling to regain its footing amidst recent market volatility. Despite being up by 30.5% from its recent lows, FLOKI faces significant resistance and bearish indicators. Current technical evaluations indicate a potential further price drop, urging caution among investors. Discover the latest insights on FLOKI’s price movement, technical resistance levels, and what lies ahead for investors in the volatile crypto market. FLOKI’s Struggle to Reclaim Fibonacci Support Levels Floki [FLOKI] has been caught in a downward trend, showing no definitive signs of recovery from its recent price drops. Even though it has experienced a 30.5% increase from its…