Author: NBTC
After months of fluctuations, bitcoin has finally surged past $65,000, reigniting optimism among investors. Since its fall in July 2024, the world’s largest cryptocurrency has struggled to reclaim this level. Its recent movement led to millions in liquidations, but investor sentiment remains bullish, with 93% now in profit. Despite the excitement, there are concerns about whether this is the beginning of a sustained rally or a temporary spike. Bitcoin’s price movement and technical analysis Bitcoin is currently trading at $67,126, solidifying its support at the upper boundary of a parallel channel that has constrained its price movement since March 2024.…
Ethereum is on a strong upward trajectory, rising more than 6% in the past 24 hours to reach a current price of $3,700. While Bitcoin recently smashed through its all-time high, Ethereum still lags behind its ATH of $4,810. Ethereum’s Price Surge: Over 6% in 24 Hours Ethereum has been on a bullish run, gaining over 6% in the past 24 hours to reach $3,700. This surge reflects the market’s renewed interest in altcoins, especially as Bitcoin nears the $100,000 mark. Unlike Bitcoin, which has recently breached its ATH, Ethereum remains below its record high of $4,810. Despite this, Ethereum’s…
With the growing adoption of the crypto space, latest reports now suggest that South Korea’s cryptocurrency trading volume has been on a rise, with senior citizens taking advantage of the growing crypto investment trend. According to Korean media reports, the monthly trading volume of stablecoins on South Korea’s top five centralized exchanges i.e., Upbit, Bithumb, Coinone, Korbit, and GOPAX, have reached approximately 16.17 trillion Won ($11.5 billion) in November 2024. The current figures represent a sevenfold increase from the 2 trillion Won recorded at the beginning of the year and mark the first time monthly stablecoin trading has surpassed 10…
As crypto markets remain broadly bullish, several airdrops provide exciting opportunities to earn tokens without any initial capital. Airdrop farmers looking for top campaigns with tier-one investor backing have a long list to select from. Five Airdrops With Tier-1 Backing Discover the top 5 potential airdrops and learn which venture capitalists are backing them. Story Protocol The project forayed into Web3 to tokenize and share Real-World Assets (RWAs) considered intellectual property (IP). This creates a way for owners to generate profit and share revenue. Although the status of the airdrop remains unconfirmed, Story Protocol has garnered up to $134 million…
CEO of MicroStrategy Michael Saylor received advice from well-known Bitcoin critic Peter Schiff in a recent Twitter exchange that could best be described as sarcastic. Schiff suggested that Saylor take out a second loan of $1 billion and invest it in DJT stocks, which he claims are more valuable due to their higher volatility in response to Saylor’s assertion that the value of Bitcoin is derived from its volatility. Schiff’s reasoning aims to ridicule Saylor’s conviction that Bitcoin is a volatile asset that is worth investing in. If value were solely determined by volatility, he suggests that Bitcoin would be…
ETH forms a bullish pattern on the monthly chart, with key resistance at $4,000. A confirmed breakout above $4,000 could push ETH toward $8,000, marking a mid-term move. The $3,400 support provides a critical safety net during retracements if upward momentum slows or stalls. Ethereum’s price action is currently showing the advancement of an ascending triangle on the monthly chart, indicating a possible breakout. Analysts point to this pattern as a key structure for determining the ETH’s movement. Technical Analysis of the Ascending Triangle The formed pattern is a well-known bullish continuation structure, characterized by a rising support line and…
Renowned crypto-focused economist Timothy Peterson has issued a stern warning about the economic outlook, predicting a major bear market and a potential recession on the horizon. Peterson, who is known for developing a unique economic metric called the Secular Market Indicator, shared his concerns in a public statement that sparked controversy among investors. Peterson introduced his Secular Market Indicator six years ago in the Journal of Wealth Management. The metric is designed to gauge whether the economy is poised for long-term growth or stagnation, and the analyst claims it offers insights that go beyond traditional tools like the Shiller P/E…
According to data from Arkham Intelligence, an unknown whale took practically 12.7 billion Shiba Inu (SHIB) tokens from the largest crypto exchange in the United States, Coinbase, late yesterday. This amount of the popular meme-inspired cryptocurrency is equivalent to just over one-fifth of a million dollars and represents nothing out of the ordinary. However, the on-chain history of the address behind the large withdrawal opens a veil that hides something more interesting. Thus, the wallet under the address “0x0907A” already contained a rather large block of Shiba Inu tokens which, with a new addition, began to equal 135.45 billion SHIB,…
Historically, Bitcoin and the Dollar Index (DXY) have maintained a largely negative correlation. This means that when the dollar strengthens (DXY increases), Bitcoin tends to fall in value, and conversely, when DXY falls, Bitcoin tends to rise. However, analysts predict that this could change and return to a positive correlation. Bitcoin- Dollar Index (DXY) Correlation May Turn Positive! At this point, analysts noted that as a result of option pricing, the negative correlation between Bitcoin and DXY could break down and turn positive around the US election time. Options data from the Chicago Mercantile Exchange shows the one-month BTC call-ask…
Ethereum (ETH) whales are at it again, but this time, they are not selling the cryptocurrency as they did for some parts of the year. Instead, on-chain data shows notable ETH accumulation, with retail investor interest also building up. What does this mean for ETH? BeInCrypto reveals all the details, analyzing the developments and their potential impact on Ethereum’s price. Ethereum Retail Investors, Big Wigs Are Buying On November 29, Ethereum’s large holders’ netflow stood at 28,680 ETH, but today, it has surged to 80,130 ETH. Netflow measures the difference between coins accumulated and those sold by whales. A positive…