Author: NBTC

ETH price movement in the 2-week chart showed an inverse head and shoulders pattern, suggesting a potential bullish reversal. Starting from the low of around $1,985, Ethereum’s price formed the “head” of the pattern in October, rallying to the neckline near $4,000 before pulling back to form the “right shoulder” at a higher low, indicating increasing market confidence. ETH Price Action Intensifies The price oscillated around $3,960, approaching the critical neckline. This pattern was significant because a breakout above the neckline at $4K could confirm the pattern, potentially propelling Ethereum towards $7,250. This scenario remains conditional on continued buying pressure…

Defaults on credit card loans are skyrocketing in the US. Lenders are now witnessing a 14-year high in credit card defaults, reports the Financial Times. The bad credit forced lenders to collectively write off a whopping $46 billion in loans that are considered seriously delinquent in the first nine months of 2024. Based on data compiled from the Federal Deposit Insurance Corporation (FDIC) and the US banking industry information platform BankRegData, the figure represents a 50% year-over-year increase. According to BankRegData, Capital One customers are facing the highest credit card delinquencies, with a total delinquent amount of $7.68 billion, representing…

Cosine, the founder of SlowMist, took over his social media platform and expressed his disagreements with Forbes article that classified Monero (XMR) as a “zombie coin”. Back in March 2024, Forbes published an article which highlighted “zombie coins”. These coins refer to cryptocurrencies that have substantial valuation but limited utility beyond speculative trading. These coins are considered “undead” because they continue to trade despite offering little to no real-world benefits. Monero (XMR) was one of these 20 zombie coins. According to Cosine, Forbes must have misunderstood the fact that XMR is a privacy focused cryptocurrency that allows for anonymous and…

According to a recent Clear Street report, Bitcoin miners are pursuing yield strategies for their BTC holdings and diversifying into AI compute. The report, titled ‘BTC Mining: 2025’s Key Themes Emerge,‘ outlines three themes for 2025: generating revenue on bitcoin reserves, leveraging existing infrastructure for HPC initiatives, and benefiting from a shift in US regulatory leadership. Bitcoin yield and spot ETF upgrades Clear Street’s authors indicate that several miner management teams are investigating ways to create income from stored BTC, with securities lending described as a potentially viable approach pending regulatory adjustments. The report states that a new SEC stance…

Bitcoin is currently testing levels below the crucial $95k mark and is down by more than 4% in the last 24 hours. In the meanwhile, PlanC (@TheRealPlanC) shared a bold prediction about MicroStrategy’s Bitcoin accumulation strategy, suggesting that the company could hold over 1 million Bitcoins by January 1, 2030. The prediction is based on a polynomial fit, which is a statistical method used to project future trends based on past data. According to this analysis, MicroStrategy could own exactly 1,039,965 BTC by the given date. PlanC also highlighted that the current trend shows the company is ahead of schedule…

Ethereum (ETH) has broken free from nearly two weeks of consolidation under $3,524, marking a significant price breakout. The altcoin king is now closing in on the critical $3,721 barrier, with bullish momentum supported by strong investor activity. Ethereum appears poised to continue its climb toward the $4,000 milestone. Ethereum Investors Are Bullish The exchange net position change highlights a substantial outflow of 89,000 ETH, equivalent to approximately $323 million. These outflows signify heightened accumulation as investors transfer their assets off exchanges to secure long-term holdings. As Ethereum’s price rises, the fear of missing out (FOMO) could further drive demand…

Treasury Secretary Janet Yellen is urging Congress to act as the debt ceiling deadline approaches. In a letter to Speaker of the House Mike Johnson, Yellen says the government will likely reach its debt limit sometime in January, largely because of obligations related to Medicare payments – forcing the government to take “extraordinary measures” to pay its bills. The Treasury has previously used the term “extraordinary measures” to refer to suspending investments in certain entitlement programs, pausing sales of Government Series treasury securities and other accounting maneuvers to keep the government running. Says Yellen, “Treasury currently expects to reach the…

Representative Michael Collins, a Georgia Republican, has disclosed trades in the meme coin “Ski Mask Dog,” according to financial reports filed with the House of Representatives. CONGRESS MEMBERS ARE NOW TRADING MEME COINS… (I’m not even kidding) Congress member Michael Collins just filed for his purchase of a crypto meme coin called “Ski Mask Dog” Which part of the cycle are we in? pic.twitter.com/jVTtrBhWdF — Stocktwits (@Stocktwits) December 3, 2024 As per Stocktwits’ post on X, the disclosure shows that Collins invested between $1,000 and $15,000 in the token through two separate transactions between December 1 and December 2, 2024.…

CleanSpark Inc., a publicly traded Bitcoin mining company, mined 668 Bitcoin in December 2024. The company sold 12.65 Bitcoin during the same period at an average price of $101,246 per Bitcoin (BTC). By year-end, CleanSpark held 9,952 Bitcoin in its reserves, according to a company release. For 2024, CleanSpark reported mining a total of 7,024 Bitcoin, marking a significant increase in its operational capacity. The company’s computing power, or hashrate, grew to 39.1 exahashes per second, reflecting the speed and power of its mining operations. Additionally, CleanSpark improved its energy efficiency, reducing energy consumption per unit of work to 17.59…

Bitcoin is witnessing a surge of on-chain activity, with daily active addresses nearing 1 million, data indicates. Bitcoin’s (BTC) march to $100,000 has driven a surge in on-chain activity, with data from IntoTheBlock showing a shift in the cryptocurrency’s long-term activity trend. In a post on X on Nov. 26, on-chain analysts highlighted that the number of daily active addresses on the Bitcoin blockchain is “approaching 1 million,” calling it the “first prolonged increase of this scale since 2021.” Bitcoin’s long-term activity trend has decisively shifted, with on-chain activity seeing significant growth.The number of daily active addresses is approaching 1…