Author: NBTC

Bitcoin (BTC) price slipped over four percent in the past 24 hours to retest the support range between $62,000 and $61,000. The flagship coin had stabilized around $63k during the early New York session as long-term holders remained unshaken. According to on-chain data analysis provided by Santiment, Bitcoin addresses holding between 1k and 10k coins accumulated 80,544 units since March 1. Remarkably, Bitcoin addresses holding between 10k and 100k wallets have accumulated almost 92k units since the beginning of March. Top Reasons Bitcoin Bears Reigned BTC Halving Volatility With about four days to the fourth Bitcoin halving, overall trading volume…

Electric Coin Company appears to be shifting its Zcash funding approach, calling for decentralization. The Electric Coin Company (ECC), a firm behind the Zcash cryptocurrency, has announced a shift in its funding approach for the token, signaling a departure from direct protocol funding and advocating for decentralization as the current development fund, established in 2020, is set to expire later this year. In a statement released on May 1, the Colorado-based company expressed concerns about the current funding model, referring to it as the “dev tax,” and highlighted the need for community-driven initiatives to determine the future of Zcash. “Some…

Mining is one of the oldest and most sure ways to make money in crypto — instead of the hassles of day-trading coins, miners literally join the other side by producing these coins themselves. But how have recent events affected this side of the crypto world? The Impact of Bitcoin Halving and Price Dynamics As the cryptocurrency landscape continually evolves, recent events like Bitcoin halving have significantly influenced market dynamics. Following the halving, Bitcoin’s price experienced an expected, but exciting surge, driven by heightened demand and reduced supply of new coins entering the market. This event was crucial for miners…

Global asset management firm Alliance Bernstein has explained that bitcoin’s bullish trajectory should resume after the upcoming halving event. The firm’s analysts described: “We believe it is always new demand catalysts that lead to bitcoin price appreciation in every cycle.” Bernstein’s Analysts on Bitcoin’s Price Post-Halving Global asset management firm Alliance Bernstein’s analysts Gautam Chhugani and Mahika Sapra shared their perspectives on the Bitcoin halving in a note to clients on Wednesday. They wrote: We expect bitcoin’s bullish trajectory to resume post-halving, when the mining hash rates have adjusted and ETF inflows resume back (negative to flat flows last 10…

Argo Blockchain, a publicly-listed cryptocurrency mining company, announced its unaudited financial results for the first quarter of 2024, which showed an improvement compared to the same period last year. The company reported a revenue of $16.8 million, a 4% increase from the previous quarter, and a threefold reduction in net loss to $3.2 million. Compared to last year, revenues grew by almost 50%. The company successfully increased its mining margin to $6.4 million from the $5.2 million reported the previous year, resulting in a gross profit of $1.9 million compared to a loss in Q1 2023. Argo mined a total…

Federal Reserve Chair Jerome Powell has indicated that interest rate cuts may be further off than anticipated. He cites recent inflation data that defies earlier expectations of a rapid decline. The decision signals a potential shift in the Fed’s approach. It will also potentially reopen the debate about Bitcoin’s effectiveness as an inflation hedge. Is Bitcoin Still a Safeguard Against Inflation? Powell acknowledged that despite initial progress, inflation rates have yet to show sustained improvement towards the Fed’s 2% target. “The recent data have clearly not given us greater confidence … Given the strength of the labor market and progress…

The Axie Infinity Origins Season 8 has finally ended, and the Postseason has started. The main highlight of the Postseason is the upcoming Elite 8 tournament, which features giveaways of up to 600 Axies followed by several new updates. Also read: Up to 20,000 AXS in Rewards in Axie Infinity Homeland Cooking Showdown The Axie Origins Elite 8 tournament will take place on 25th May at 7:00 AM EST following the end of season 8. It will feature the top 8 players from the previous season competing against each other for a shared prize pool of 3,000 AXS. Elite 8…

Many enthusiasts in the Bitcoin community were anticipating the next halving to coincide with Saturday, April 20, 2024, but the latest data suggest it will likely occur a day earlier, on April 19. Despite a recent uptick in mining difficulty, miners have managed to maintain a high hashrate, resulting in block times dropping below the average ten-minute mark. Fierce Competition Among Mining Pools as Bitcoin Halving Looms As of this writing, only 519 blocks remain until the Bitcoin halving, anticipated this week at block 840,000. The forecasts now point to the event unfolding on April 19, deviating from the initial…

It has come to light, thanks to data from IntoTheBlock, that the volume of large transactions involving the popular meme cryptocurrency Shiba Inu (SHIB) has increased 165% in the past 24 hours from 3.73 trillion SHIB to 6.18 trillion SHIB. In monetary terms, this change was reflected in an increase in transaction volume from $82.69 million to $138.2 million. In total, there were 241 such transactions of whales, as the major players in the crypto market are called, over the past day. It is important that only those transactions whose size amounted to at least $100,000 are taken into account.…

Bitcoin (BTC), the world’s largest digital asset, has a major support at the $62K price level as per the data provided by UTXO Realized Price Distribution (URPD), and it is imperative for the leading cryptocurrency to hold above this price region. As per a post by technical analyst @ali_charts on social media platform X (formerly known as Twitter), if Bitcoin holds above $62,000 and breaks above the $66,250 price level, the bull run will resume. However, if the digital asset fails to hold above $62,000, it might retest the nearest major support at $51,500, which is another major demand area…