Author: NBTC
The price of Bitcoin has surged 10% in the past week and traded above $68,200 today, its highest level since late July. Despite its volatile performance over the past three months, experts suggest that Bitcoin is poised to make significant progress before the end of the year. Here’s what experts say about Bitcoin’s trend and the factors affecting its price: Initially, the upcoming US presidential election was seen as a source of uncertainty for Bitcoin’s price, but the outlook has changed. Alex Thorn, head of research at Galaxy Digital, wrote in a recent note that a victory by both Donald…
Ethereum (ETH) derivatives traders have reacted to the altcoin’s failure to sustain the $3,500 level by increasing their short positions. This surge in bearish bets suggests that a majority of traders anticipate further price declines for ETH. However, do other metrics align with this sentiment? This on-chain analysis explores whether these traders might be making the right call — or if the data hints at a potential rebound. Ethereum Shorts Outpace Longs Amid Profit-Taking As of this writing, the liquidation map reveals that Ethereum derivatives traders have opened short positions totaling $918 million since the cryptocurrency’s price drop yesterday. In…
In a recent tweet, Shiba Inu’s pseudonymous marketing lead, Lucie has announced that an important upgrade for Shibarium NFT holders is coming. Now, these holders are going to have enhanced opportunities using their Shiboshi non-fungible tokens. “Shiboshis strategic upgrade” Lucie shared the details of what she called an upcoming “strategic upgrade” for holders of Shiboshi NFTs. The marketing lead revealed that those users that hold Shiboshis are going see “Big things are on the way for Shiboshis on Shibarium.” In particular, there will be “new opportunities and exciting ways to engage.” Among those new opportunities, Lucie tweeted, will be enhanced…
The Financial Conduct Authority has reduced enforcement timelines to enhance efficiency, according to a five-year plan, which focuses on efficiency, innovation, tackling financial crime, and empowering consumers. The regulator is now inviting industry stakeholders to join in improving the financial industry, which is based on confidence and growth. The FCA has concluded its current three-year strategy and is now targeting a more ambitious framework spanning five years. In a speech at TheCityUK National Conference, Emily Shepperd, FCA’s Chief Operating Officer, highlighted that the regulator’s goals include enhancing regulatory efficiency, boosting consumer confidence, and fostering innovation. Shepperd also highlighted a commitment…
W-Coin decided to make its community more active, introducing a token burn for accounts logging out for more than three days. W-Coin decided on a launch with a 70% community allocation and already offers a tap-to-earn mini app. The Telegram W-Coin project, a tap-to-earn tokenized game, will introduce a new mechanism for user engagement, per the announcement. The tap-to-earn game aims to allocate WCOIN tokens for activity. To counteract idle accounts, the game will introduce W-Burn. If users are offline for three days, 5% of their balance will be burned daily until the next login. This will ensure only active…
Bitcoin continued its upward momentum, climbing for the fourth time in five days as speculators target $70,000 amid growing enthusiasm for the cryptocurrency. The largest cryptocurrency rose 2.9% to $68,898, surpassing the level reached on Wednesday and the highest since July 29. Bitcoin last traded at $70,000 on June 12. “Momentum is strong and the path of least resistance is to the upside given the macroeconomic backdrop,” commented Jaime Baeza, managing partner at crypto hedge fund AnB Investments. Investors have poured more than $1.8 billion into U.S. ETFs holding bitcoin this week, according to Bloomberg data. The investment products were…
Ethereum price remained supported above the $3,220 zone. ETH is consolidating and might aim for a move above the $3,400 resistance. Ethereum started a fresh increase from the $3,250 support zone. The price is trading above $3,350 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $3,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it clears the $3,400 resistance zone. Ethereum Price Remains Stable and Eyes More Upsides Ethereum price remained supported above $3,200 and started a fresh increase while…
While 2024 will be the year of memecoins, especially Solana (SOL)-based memecoins attracted a lot of attention. While both institutional and retail investors have been buying heavily in SOL-based memecoins, one of them has been Wintermute, a leading market maker in the cryptocurrency industry. Wintermute, who has been buying many memecoins, most recently bought Solana-based memecoins MICHI and GOAT. According to Onchain data, Wintermute has acquired MICHI and has become the third largest holder. Accordingly, Wintermute began accumulating MICHI and purchased 5.56 million MICHI worth $1.4 million. With this purchase, it became the third largest owner of MICHI. MICHI, which…
The incoming administration of President-elect Donald Trump is reportedly planning to enhance the authority of the Commodity Futures Trading Commission (CFTC). The administration seeks to grant CFTC the authority to oversee a large segment of the $3 trillion digital asset market. CFTC to Takeover SEC’s Responsibilities The initiative reflects a broader Republican strategy to reduce the regulatory scope held by the Securities and Exchange Commission (SEC) over the crypto sector, a hallmark of President Joe Biden’s administration and SEC Chairman Gary Gensler’s tenure. The CFTC, responsible for supervising the $20 trillion U.S. derivatives market, manages trading in futures, options, and…
Publicly traded bitcoin (BTC) miners are approaching the milestone of an aggregated $40 billion market cap, according to Farside data, doubling in seven months as bitcoin’s price rocketed through multiple record highs to approach six figures for the first time. Miners’ biggest challenge is revenue. The reward they receive for confirming blocks on the Bitcoin blockchain was cut 50% in April, when their combined market cap was about $20 billion. In this current epoch, only 450 bitcoin are mined a day and fees paid to miners remain at cycle lows, just 10 BTC ($946,000) on Nov. 27 according to Glassnode…