Author: NBTC
A crypto strategist known for earning the “Master Trader” rank on the digital asset exchange Bybit believes Bitcoin (BTC) is setting the stage for a renewed bull market. In a new video, pseudonymous analyst Bluntz tells his 288,200 followers on the social media platform X that Bitcoin has been seeing shallower dips in the low time frame since printing its August low at around $49,000. According to Bluntz, Bitcoin appears to be forming a series of 1-2 Elliott Wave structures, indicating that BTC is preparing for an explosive upside move. “If we can see these wave twos, [they’re] getting shallower…
Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure. Here’s the latest news in the DePin sector: Peaq announced a launch date for its new token and broader functionality for its “peaqosystem,” GAIB and io.net teamed up for outreach solutions in their shared GPU/AI compute sphere, and Roam is transforming into a DePin telecom layer. Peaq Announces Blockchain and Token Launch Date Peaq, the Layer-1 blockchain ecosystem for DePins, recently announced a widespread launch of their protocol and new PEAQ token. The firm has already been incorporating dozens of projects into the “peaqosystem”,…
Certain class action claims in a lawsuit against Ripple and its chief Brad Garlinghouse are moving to final judgement, marking a major win for the crypto firm which may help its ongoing case against the Securities and Exchange Commission (SEC). On Thursday, Judge Phyllis Hamilton granted a move to final judgement on settled class claims and has ordered remaining unsettled claims to be paused. This decision has shortened the class action lawsuit’s timeline and has paved the way for a trial to commence on January 21, 2025. Plaintiffs in the class action lawsuit argue that Ripple sold XRP between 2017…
As stated in the statement made by cryptocurrency analysis firm QCP Capital, there were significant fluctuations in the cryptocurrency market last week. Bitcoin (BTC) retested the local high of $69,500, which had not been reached since July, but failed to break through, leading to a pullback. According to cryptocurrency analytics firm QCP Capital, BTC found support at $65,000 and is currently forming a consolidation pattern. Despite the volatility, QCP Capital noted continued interest from institutional investors. Bitcoin spot ETF net inflows reached $997.7 million this week, marking the third consecutive week of positive flows. This trend is seen as a…
Cathie Wood’s Ark Invest is optimistic about a more favorable environment for cryptocurrency in the US, tied to new policies under President-elect Donald Trump. The asset manager is popular for operating the ARK 21Shares Bitcoin ETF (ARKB), which currently has $4.44 billion in net assets. IPO Windows For Circle and Kraken, Ark Invest Says In its latest newsletter, the asset management firm expressed optimism that Trump’s return to the White House could allow digital asset firms like Circle and Kraken to go public and achieve regulatory clarity. “Among the possibilities are…the re-opening of the initial public offering (IPO) window for…
Tokenomist revealed that $2.6 billion in new token supply is set for release in November. The data tracker specified that approximately $1.7 billion would be unlocked linearly while $900 million in tokens would be unlocked on a cliff basis. According to data from Tokenomist, over $2 billion worth of tokens from projects such as Avalanche and Arbitrum will be unlocked in November. The data tracker revealed token unlocks would include linear and cliff releases. Major crypto projects, including Arbitrum, to unlock in November The upcoming token unlock highlights the end of the different projects’ vesting periods. The token calendar contains…
As Trump gears up for another term, could his potential Treasury Secretary pick, Scott Bessent, finally bring a crypto-friendly approach to the highest levels of U.S. economic policy? Table of Contents Paulson’s exit shifts the spotlight to Scott Bessent The man behind the Treasury Secretary buzz Bessent’s crypto vision A last-minute challenger emerges Paulson’s exit shifts the spotlight to Scott Bessent As Donald Trump prepares for a second term in office, the spotlight has turned to the key role of the U.S. Treasury Secretary — a position with profound influence over the nation’s economic policy, global trade, and the broader…
Bitcoin dominance, a metric that measures the cryptocurrency’s share of the market, has now approached 60%. It is now up by nearly 10% over the past month alone with no altcoin season in sight. The flagship cryptocurrency now boasts its biggest share of the market since April 2021. Back then, Bitcoin’s market share collapsed as much as 16.64% within a single month. In September 2022, Bitcoin’s dominance briefly collapsed below the 40% mark amid a grueling bear market to reach a local low of 38.84%. Bitcoin’s dominance is likely to climb higher Now, the crypto king is ruling the roost…
The Federal Reserve’s outlook on interest rates is up in the air as inflation keeps rolling strong. Later today, the Bureau of Labor Statistics (BLS) will release its latest consumer price index (CPI) numbers, and economists are bracing for a third straight month of solid inflation growth. They’re forecasting that the core CPI—an index that strips out volatile food and energy prices—will tick up by 0.3% for October. Meanwhile, the broader CPI is expected to climb by 0.2%. This comes right after a few interest rate cuts aimed at cooling things down. In September, the Fed made a half-point cut,…
DOGE’s increase is largely attributed to a renewed endorsement from Elon Musk linked to his proposal for a “Department of Government Efficiency” (D.O.G.E.). U.S.-listed spot bitcoin ETFs experienced net outflows, with significant withdrawals from major funds like Fidelity’s FBTC and Ark Invest’s ARKB, except for BlackRock’s IBIT which saw inflows. The crypto market’s reaction appears influenced by the narrowing lead of Donald Trump in election polls, traditionally seen as more favorable towards cryptocurrencies, some traders said. Dogecoin (DOGE) was the only major token in green ahead of the widely-watched U.S. elections, with some expecting a marketwide surge in the coming…