Author: NBTC
Bitcoin faces mounting pressure as crucial indicators signal a potential drop to the $53,541 mark. With sellers gaining momentum and technical charts flashing red, the cryptocurrency is struggling to find a foothold in a volatile market. Traders are watching closely to see if the bearish trend will continue or if a reversal is on the horizon as BTC hovers near critical support levels. The next few days could be crucial in determining Bitcoin’s short-term trajectory. As Bitcoin faces increasing selling pressure, this article explores the recent bearish signals affecting its price movement, analyzing key technical indicators that suggest a potential…
Crypto investment products experienced inflows of $901 million this month, marking the fourth-largest inflow on record, per data from CoinShares. Crypto investment products recorded inflows of $901 million in October, marking the fourth-largest inflow month on record and accounting for 12% of total assets under management. Data from CoinShares indicates that year-to-date inflows now total $27 billion, nearly tripling the previous record of $10.5 billion set in 2021. CoinShares head of research James Butterfill says current Bitcoin (BTC) prices and flows are “heavily influenced by U.S. politics, with the recent surge in inflows likely linked to the Republicans poll gains.”…
Aptos Foundation has announced that Stacks, the Bitcoin Layer 2 protocol, will integrate Bitcoin into the Aptos ecosystem. Bitcoin layer-2 solution Stacks (STX) is introducing its Bitcoin-backed asset, sBTC, to the Aptos network, enabling developers to incorporate sBTC into decentralized applications. According to a press release shared with crypto.news, this move will allow Bitcoin (BTC) to be used across decentralized applications built on Aptos (APT), which is powered by the Move programming language. At the core of this integration is sBTC, a Bitcoin-backed token that enables Bitcoin to be securely transferred to Layer 2 networks like Stacks. With sBTC, Bitcoin…
Former President Donald Trump has publicly pledged to remove current SEC Chair Gary Gensler if he wins the 2024 presidential election, promising to appoint a more crypto-friendly regulator. This decision could shift regulatory oversight of the crypto and financial markets. However, questions about the president’s authority to remove SEC commissioners without cause have raised legal concerns. If Trump wins, one of these things will happen:1. @GaryGensler resigns promptly, as is the tradition when there is a change in administration. 2. Trump asks for Gensler’s resignation on Day 1 and he complies.3. Trump replaces Gensler as SEC Chairman, but allows him…
Crypto exchange BITPoint Japan becomes the first ever in Japan to start listing the memecoin “PEPE.” The frog-based popular meme crypto, PEPE will be available for spot trading, lending, and savings. Ranked 24th on Coinmarketcap with the staggering cryptocurrency market capitalization of 4 Billion, the crypto is exchanging hands at $0.059521 after going up by 0.44%. BitPoint Japan announced the start of trading of the cryptocurrency PEPE, the first memecoin in Japan to be listed. The token will be available for spot trading, lending, and fixed investment on the exchange. PEPE is a crypto asset created in 2023 and based…
Researchers from the non-profit organization Exponential Science and University College London have pointed out that Bitcoin mining bans might have unintended environmental consequences that could increase carbon emissions by up to 2.5 million tonnes annually. In the paper titled “The Unintended Carbon Consequences of Bitcoin Mining Bans: A Paradox in Environmental Policy,” the researchers examined how concerns over Bitcoin mining’s environmental impact have prompted various governments to consider or implement bans on cryptocurrency mining. However, these well-meaning policies may have had the opposite effect of shifting mining operations to regions with higher carbon emissions. The research team, consisting of Dr.…
UBS Asset Management, a subsidiary of Zurich-headquartered investment bank UBS, has launched its inaugural tokenized fund on the Ethereum blockchain, aiming to expand access for its clients. According to a Nov. 1 statement, the new product — the “UBS USD Money Market Investment Fund Token” or “uMINT” — offers clients an innovative investment solution. Token holders will gain access to UBS Asset Management’s institutional-grade cash management strategy, which utilizes high-quality money market instruments under a conservative, risk-managed framework. Thomas Kaegi, Co-Head of UBS Asset Management, emphasized that the launch aligns with increasing investor interest in tokenized assets. He commented: “We…
A top trader and on-chain analyst has issued a critical Bitcoin (BTC) warning. Ali Martinez, renowned for his insightful analysis of the market, has predicted that the BTC price may be heading toward a massive crash. He took to X (formerly Twitter) to warn his 70.1K followers about the dark times ahead. Martinez explained that the TD Sequential indicator on the two-month price chart has given a major sell signal for Bitcoin. He is now anticipating a price correction and revealed that if BTC loses the crucial $51,000 support level, one of the biggest Bitcoin crashes could happen. This crash,…
After a downtrodden September, non-fungible token (NFT) sales dropped further in October, totaling $361 million—a 36% decrease. NFT Sales Fall 36% in October, Totaling $361 Million NFT sales in October didn’t quite bounce back, showing a 36% decline after September’s 47.9% dip. The month saw around $361.5 million in sales, with Ethereum NFTs holding the lead. Ether-based NFTs brought in over $120 million, a 34.11% slide from September. Bitcoin NFTs followed, reaching $69.6 million in sales, though this too marked a 27.17% dip. Solana secured the third spot, logging $66.26 million—down 22.94% from September. October’s NFT sales volume from cryptoslam.io.…
Data from Indonesian regulators reveal that more than 60% of crypto investors in Indonesia consist of Gen Zs and Millennials in the age range of 18 to 30 years old. According to a report by local Indonesian media Kompas.id, cryptocurrency is becoming increasingly popular amongst young Indonesian, specifically those in the Gen Z and Millennial age groups. Data from The Indonesian Commodity Futures Trading Regulatory Agency, known locally as Bappebti, reveal that by Sept. 2024, as much as 26.9% of crypto investors are aged 18 to 24 years old. Meanwhile, 35.1% of investors are in the ages between 25 to…