Author: NBTC

Bitcoin’s price has been dropping rapidly due to the increasing geopolitical conflict in the Middle East. At the same time, the U.S. economy has proven to be resilient, and this has caused an increase in bets on higher interest rates. This has reduced the market’s risk appetite, further hurting Bitcoin. The Bitcoin Halving 2024 is just two days away, and there is much speculation about whether the BTC price will crash once again or make a sharp rebound. Here are the top factors contributing to the current market sentiment Assessing the Reasons Behind the Dip The ongoing geopolitical tension is…

Ethereum remains above $3,100, with potential for a breakout towards $4,000. The SEC’s imminent decision on spot Ethereum ETFs could significantly impact the market outlook. The approval of the ETFs could drive Ethereum to new highs, while rejection may lead to a drop below $3,000. Ethereum remains above $3,100, with bulls solidifying their stance. Following a brief rally last week, buoyed by improving macroeconomic factors, Bitcoin and Ethereum saw modest gains, with Bitcoin exceeding $67,000 and Ethereum surpassing $3,100. Analysts are closely watching Ethereum’s potential breakout towards $4,000. The SEC’s decision on spot Ethereum ETFs is imminent, starting with VanEck’s…

The crypto market has recently witnessed a trend of tokens launching with high fully diluted valuations (FDVs) but low initial circulating supplies. This structure, often driven by venture capital (VC) funding and upbeat market sentiment, can lead to unsustainable price appreciation post-token generation event (TGE) and significant selling pressure once tokens unlock. According to a recently released report from Binance Research, aggregated data from Token Unlocks and CoinMarketCap indicate that approximately $155 billion worth of tokens will unlock between 2024 and 2030. Binance Research suggests that without increased buy-side demand, these unlocks could exert substantial downward pressure on token prices.…

Two wallets transferred 211 billion SHIB tokens to Coinbase, worth $5.16 million, sparking mixed reactions. SHIB’s price surged by 7.65%, with market capitalization and trading volume also rising. Recent Bor and Heimdall hard forks on Shibarium aim to enhance utility, potentially influencing SHIB’s prospects. In a significant trading activity, two wallets identified as ‘0x6a43..’ and ‘0xef01..’ transferred 211 billion Shiba Inu (SHIB) tokens to Coinbase, a major cryptocurrency exchange. The transactions, valued at approximately $5.16 million, occurred over the past 24 hours, according to on-chain tracker The Data Nerd. Within 10 hours, 2 Wallets (have the same amount of $SHIB)…

The Bitcoin price has recently experienced heightened volatility, causing the largest cryptocurrency in the market to briefly drop below the significant threshold of $60,000 for the first time since March 5. This price decrease comes just days before the highly anticipated Halving event scheduled for Friday. This event has traditionally been viewed as a positive catalyst for Bitcoin’s value due to its impact on token supply. However, market participants are questioning whether the Halving’s effects are already factored into the current market conditions, leading to extended bearish sentiment. Long-Term Bullish Outlook Prevails Bitcoin’s decline saw it plummet by 5% to…

Ethereum (ETH) crypto funds suffered over $23 million in weekly outflows, despite digital asset products witnessing $932 million in inflows for the same period, according to asset management firm CoinShares. The outflows are tied to a growing skepticism over the likelihood of the SEC approving a spot ETH exchange-traded fund (ETF) in the US. Bitcoin remained the favored asset, attracting $942 million in inflows, while there was a negligible amount directed towards short Bitcoin positions, indicating a generally positive investor outlook. Altcoins also experienced inflows, with Solana, Chainlink, and Cardano receiving $4.9 million, $3.7 million, and $1.9 million, respectively. Crypto…

Bitcoin price has tested $60,364 to $62,412 range, a crucial support zone, one too many times. FOMO and hype about BTC halving remains down amid enhanced market risk linked to geopolitical tensions. Bernstein report says ETF inflows will resume and Bitcoin bull market will continue after BTC halving. Bitcoin (BTC) price is dropping amid elevated risk levels in the market. It comes as traders count hours to the much-anticipated halving event. Amid the market lull, experts say we may not see a rally until after the halving. Daily digest market movers: Bernstein experts don’t expect Bitcoin rally until after halving…

While Bitcoin rose after the US data announced last week, the latest inflation data balanced the worsening situation. Following these economic data, two FED members spoke on the first day of the week. Making statements about the course of inflation and the FED’s monetary policy, Atlanta Fed President Raphael Bostic and Fed Vice President for Supervision Michael Barr evaluated the data. FED member Bostic spoke first and stated that inflation would eventually reach the 2% target and that it would take some time. Stating that the FED is not yet in a position to signal a return on interest rates,…

Bitcoin mining company BitFuFu has rolled out its financial report per Q1, showcasing a 150% increase in total revenue compared to Q1 2023. Bitmain-backed public cryptocurrency mining company BitFuFu’s total revenue in Q1 soared to $144.4 million, representing an increase of 149.0% from $58.0 million in the same period of 2023 driven by the surge of demand for cloud-mining solutions. In the Q1 earnings report, BitFuFu Leo Lu attributed the growth to the firm’s “asset-light strategy,” adding that the chosen approach “flexibly adjusts and optimizes mining equipment to maximize profitability.” “Our cloud-mining solutions allow us to reduce revenue volatility created…

Bitcoin price is still struggling below the $65,000 resistance zone. BTC must stay above the $60,000 support zone to avoid a major decline. Bitcoin is still struggling to gain pace for a move above the $65,000 resistance zone. The price is trading below $63,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $62,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $63,000 resistance zone. Bitcoin Price Remains At Risk Bitcoin price failed to clear the $64,500…