Author: NBTC
Will Bitcoin’s near-60% dominance surge translate into a breakout above $100K with the help of November’s market-shaping events, or will unexpected factors derail BTC’s upward journey? Table of Contents BTC dominance holds strong amid market shifts BTC ETFs closing in on major milestones Election odds and what they mean for Bitcoin’s future Crypto and macro perspective BTC dominance holds strong amid market shifts As autumn peaks, Bitcoin’s (BTC) market dominance—the percentage of the total crypto market cap it holds—is creating an intriguing scenario. Currently, at around 59.7%, a level last reached in April 2021, it appears set to cross the…
CryptoPunks reestablished a floor price of $100,000 this week amid major gains for Bitcoin and the broader cryptocurrency market, marking a resurgence for the prominent NFT project following months of diminished demand. This marks the first time the CryptoPunks floor—aka the price of the cheapest asset listed on a marketplace—has been above $100,000 since June according to data from NFT Floor Price. The rise in floor price has been buoyed by a sharp increase in trading volume for the Ethereum NFT collection, which traded more than $14.5 million in the last week and registered more sales in the last four…
The rise of memecoins is an important milestone of the crypto community and Binance research credits increased the money supply for it. As investors have more appetite for high-risk assets, memecoins have tripled in value. But, they are speculative and very reactive to influence. They have clocked a 22% surge on the back of the US election result. 75% memecoins were born last year A recent Binance report revealed that the rising money supply has driven more investment into riskier crypto assets, including memecoins. Its market value has tripled relative to altcoins since 2022. The report highlights that with regulators…
The U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler could soon step down, a move that might positively impact the ongoing Ripple lawsuit. Recently reelected, pro-crypto President Donald Trump has previously promised to fire Gensler on his “day 1” in office. This has indeed put pressure on the SEC Chair to resign before January 2025 while the XRP case proceedings continue. Will SEC Chairman Resign This Week? A notable trend suggests Gensler may follow suit, as past SEC chairs have resigned shortly after opposing presidents won elections. For instance, Mary Jo White announced her resignation just days after Trump…
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe. As the work week kicks off, bitcoin clocked another Monday surge — this time to $69,000. We had reported on BTC eclipsing $69k earlier this month, before retreating. Similarly to a week ago, the asset dropped today following its breach of that mark. It settled at roughly $68,980 by 2 pm ET — flat over the week, but up 1.5% from 24 hours ago. VanEck crypto research head Matthew Sigel noted this morning on CNBC that bitcoin, which had lagged with low volatility before the 2020…
Political memecoins tied to U.S. elections, like MAGA and DJT, are surging, with over 100 tokens recently launched on Ethereum and Solana. PolitiFi tokens, including MAGA and PEOPLE, now hold a market cap exceeding $600 million, driven by election-related social media buzz. Market data reveals heightened crypto interest in political tokens, reflecting a growing link between major events and digital assets. As the U.S. presidential election comes to an end, the cryptocurrency market is experiencing a notable increase in politically themed tokens. Over the past 24 hours, these tokens have emerged with high trading volumes and significant social media engagement.…
Fairshake and its affiliated Super PACs, Protect Progress and Defend American Jobs, were very active contributors to this election cycle, spending successfully across a variety of different races. Protos used Federal Election Commission data compiled by OpenSecrets to help determine which states were the largest recipients of funds from these crypto industry-affiliated entities. This approximately $133 million in spending was dominated by Ohio, where over $40 million was spent by Defend American Jobs to support the campaign of Republican Bernie Moreno, who has clinched the state’s Senate race. Read more: Crypto promises that Donald Trump must now live up to…
Cryptocurrency analytics firm CryptoQuant recently shared its observations of Bitcoin’s market dynamics, explaining key signals that point to a potential price increase. According to the firm, Bitcoin miners are holding their assets strategically, indicating confidence in an impending price increase. “We have consistently emphasized the importance of miners’ actions within the Bitcoin network, as these key participants play a key role in every cycle and often drive increased price volatility,” CryptoQuant’s analysis said. Miners are important participants in the Bitcoin ecosystem, often adjusting their sales patterns to market conditions, affecting supply and influencing price trends. CryptoQuant’s report noted that during…
The SEC has escalated its crackdown on crypto market manipulation, filing charges against multiple market makers and individuals for allegedly using deceptive tactics—such as wash trading and volume inflation—to mislead investors about the demand for various crypto assets marketed as securities. The following opinion editorial was written by Alex Forehand and Michael Handelsman for Kelman.Law. SEC Charges a So-Called Market Maker and Two Employees in a Crackdown on Manipulation of Crypto Assets Offered and Sold as Securities In a sting operation emblematic of a John Grisham novel, the SEC charged ZM Quant Investment Ltd.—a British Virgin Islands entity—with manipulating markets…
Bitcoin nears $70,000 as miners’ accumulation suggests market confidence. Key Takeaways Bitcoin miners are accumulating BTC, indicating optimism for a price rally. The MPI remains low, suggesting miners are holding their positions for potential gains. Bitcoin miners hold as the Miner Position Index (MPI) indicator points to a potential price rally. The MPI, which tracks miners’ Bitcoin movements to exchanges, is signaling strong accumulation, according to a CryptoQuant-verified author. Bitcoin Miners’s Position Index Chart (CryptoQuant) This pattern has been a consistent marker of price rallies in previous cycles, and the current MPI reading shows miners accumulating rather than liquidating. When…