Author: NBTC

Ethereum price climbed higher above the $2,600 resistance. ETH outpaced Bitcoin and is holding gains above the $2,580 support zone. Ethereum extended its increase above the $2,650 resistance zone. The price is trading above $2,550 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,590 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a downside correction if there is a move below the $2,580 support. Ethereum Price Eyes More Upsides Ethereum price remained in a positive zone above the $2,500 resistance. ETH even outpaced BTC and…

Bitcoin’s share in international transactions hit a decade high in 2023, while foreign holdings of U.S. government bonds held steady, Credit Agricole said in a note to clients. USD’s persistent lead means investors could continue to park money in the currency during times of stress in the global economy. Since bitcoin’s (BTC) inception over a decade ago, crypto propounders have been obsessed with “de-dollarization,” a term used to describe shifting away from the U.S. dollar’s (USD) role as the global reserve currency. The calls grew louder last year as several regional banks in the U.S. faced turmoil and the federal…

In a recent development blog update, Ed Tubbs, senior software engineer at the Dogecoin Foundation, outlined a series of ambitious plans for the year. According to Tubbs, the past year has been a significant one for Dogecoin, with the launch and continuous improvement of key initiatives such as GigaWallet, LibDogecoin, and RadioDoge. Yet, the foundation is not resting on its laurels. With a freshly updated Trailmap expected next week, the Dogecoin team is preparing for what’s dubbed as a “groundbreaking” year ahead. A Libdogecoin update The foundation has been hard at work, culminating in the release of libdogecoin 0.1.3. This…

During his recent appearance at the CNBC’s Squawk Box show, VC investor, Bitcoiner and entrepreneur Anthony Pompliano talked about Bitcoin and spot BTC ETFs – those were launched a month ago, on January 11 after the much-anticipated approval of the Securities and Exchange Commission and its chairman Gary Gensler. Pompliano (known within the cryptocurrency community as “Pomp”) stated that Wall Street “not just likes, but loves Bitcoin.” He also mentioned that the recently launched spot ETFs have set a record in the history of this type of asset. Bitcoin ETFs set new record on Wall Street Talking about the Bitcoin…

Bitcoin’s implied volatility has crashed since the SEC’s approval of spot ETFs, a lesson for volatility traders as the focus shifts to ether ETF optimism. Traders looking for clues on how ether may perform ahead of and following the potential ETF launch later this year may want to track how options are priced. Nearly a dozen spot bitcoin (BTC) exchange-traded funds (ETFs), assets that invest in the actual token, began trading in the U.S. on Thursday. The highly-anticipated investment products came into effect after years of wait as the Securities and Exchange Commission (SEC) approved them on Wednesday. While several…

Bitcoin spot ETFs in the US just hit a new record for weekly cash flow as they wrapped up their first month on the market.Last week, these funds received approximately $1.2 billion in assets. BitMEX research reports that this nearly doubles the $700 million from the week before. This increase coincides with a slowdown in withdrawals from another major Bitcoin fund, the Grayscale Investments’ Bitcoin Trust ETF (GBTC). The fastest-growing US spot bitcoin funds also made ETF history. Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC) eclipsed $3 billion in assets last week, joining BlackRock’s iShares Bitcoin Trust (IBIT) in that…

In a recent development, seasoned trader Peter Brandt has reevaluated his stance on Ethereum (ETH) after considering the market implications of a Bitcoin (BTC) ETF approval. Brandt disclosed his change of stance in a recent post on X, as ETH recaptures $2,600. The veteran analyst noted that he is known for his “strong opinions, weakly held” approach, stressing the importance of adapting trading strategies based on changing market realities. Brandt’s Initial Rising Wedge Prediction Brandt, who initially subscribed to the belief of a substantial rising wedge formation in Ethereum, now suggests a deviation from this anticipated pattern. Recall that he…

A new report reveals the impressive growth and impact of Crypto Valley, a leading web3 and blockchain hub located in Switzerland. The report analyzes the ecosystem, venture funding, and sector insights of the crypto hub. Interestingly, these areas recorded considerable growth, as the global crypto market witnessed a recovery last year following the implosions of 2022. Per the report, the leading 50 entities in Crypto Valley saw their value soar, doubling to $382.93 billion in 2023. The region now hosts 1,290 companies, marking a 13.6% rise from the previous year, with nearly 40% of them headquartered in Zug, the heart…

A little-known altcoin is surging over 45% during the last day as a new community proposal passes to upgrade the protocol’s token. In a new video update, John Patrick Mullin, the chief executive of Mantra Chain (OM) says that the community recently voted on making OM the project’s sole token, causing OM to spike. “We actually didn’t decide to do that, a community member issued a proposal on the DAO. Shout out to The King, one of our community members from a long time ago, an OG member, who effectively put forth the proposal on the Mantra DAO (decentralized autonomous…

This week, Bitcoin and the rest of the crypto market anticipate a slew of macroeconomic data from the United States. The market awaits the release of January CPI data on Tuesday, Feb. 13, 2023, which could have a significant impact on the price and volatility of Bitcoin. Bitcoin is frequently sensitive to macroeconomic events and indicators, such as Consumer Price Index (CPI) data, which tracks changes in the cost of goods and services. The CPI data indicate the degree of inflation in the economy, which influences the value of the U.S. dollar and interest rates set by the Federal Reserve.…