Author: NBTC

Historically, Bitcoin and the Dollar Index (DXY) have maintained a largely negative correlation. This means that when the dollar strengthens (DXY increases), Bitcoin tends to fall in value, and conversely, when DXY falls, Bitcoin tends to rise. However, analysts predict that this could change and return to a positive correlation. Bitcoin- Dollar Index (DXY) Correlation May Turn Positive! At this point, analysts noted that as a result of option pricing, the negative correlation between Bitcoin and DXY could break down and turn positive around the US election time. Options data from the Chicago Mercantile Exchange shows the one-month BTC call-ask…

Ethereum (ETH) whales are at it again, but this time, they are not selling the cryptocurrency as they did for some parts of the year. Instead, on-chain data shows notable ETH accumulation, with retail investor interest also building up. What does this mean for ETH? BeInCrypto reveals all the details, analyzing the developments and their potential impact on Ethereum’s price. Ethereum Retail Investors, Big Wigs Are Buying On November 29, Ethereum’s large holders’ netflow stood at 28,680 ETH, but today, it has surged to 80,130 ETH. Netflow measures the difference between coins accumulated and those sold by whales. A positive…

Spot ethereum (ETH) exchange traded funds (ETF) in the U.S. saw record daily inflows on Friday, another sign that the second-largest cryptocurrency is gaining momentum as a catch-up trade after vastly underperforming bitcoin (BTC) this year. The nine products combined booked $332.9 million in net inflows during Friday’s shortened trading session, data compiled by Farside Investors shows. BlackRock’s iShares Ethereum Trust (ETHA) and Fidelity Ethereum Fund (FETH) led, attracting $250 million and $79 million in fresh funds, respectively. Friday was the fifth consecutive session with net inflows for the group, and concluded the second strongest week with $455 million in…

Fortnite-like battle royale shooter OpenSeason hosted a 12-hour competition promising players a slice of $350,000 worth of tokens. But instead of airdropping those Ethereum-based tokens, the developers burned them—and will burn many more ahead. By the end of the token purge, 82% of the total supply of the FU Money (FU) token will have been burned, developer Fractional Uprising Studios told Decrypt’s GG. The team claims this is a move to help support the token’s health… and have a laugh while doing it. Last week, OpenSeason’s creators announced the Mega Jeet competition—”jeet” being crypto slang for someone who sells quickly…

Ethereum has recently been making waves for the right reasons, providing bullish cues to its native token, ether (ETH). Now, the cryptocurrency’s price chart reveals a compelling pattern reminiscent of the set-up in bitcoin (BTC) before it chalked out a record rally last month. Ether’s three-line break chart, which filters out day-to-day noise and erratic price movements, shows the cryptocurrency’s eight-month corrective trend, characterized by lower highs and lower lows, has ended and the broader uptrend from the October 2023 lows near $1,500 has resumed. Such breakouts often trigger a bullish cascading effect on price by attracting new buyers and…

SAFE token recorded a massive 66% surge in value following its listing announcement on the Upbit exchange. The news triggered a trading frenzy as Korean investors bought the token. Upbit, Korea’s leading crypto exchange, introduced new trading pairs for SAFE, the multi-purpose utility token of the Safe{Core} ecosystem, against the Korean won (KRW), Bitcoin (BTC), and Tether (USDT). Trading began on October 24 at 6:00 PM KST. Spotonchain Reports Increased SAFE Accumulation According to Spotonchain, the number of first-time buyers saw a dramatic increase, with over 1.35 million SAFE tokens, valued at $2.24 million, bought within an hour of the…

Ether (ETH) has underperformed rivals bitcoin (BTC) and solana (SOL) year-to-date, but ETH exchange-traded fund (ETF) inflows have inflected suggesting this period of underperformance may be over, broker Bernstein said in a research report Monday. The broker noted that on Friday Blackrock’s spot ether ETF saw inflows of $250 million, versus only $137 million of inflows for the asset manager’s larger spot bitcoin ETF. “This creates favorable demand-supply dynamics for ETH,” analysts led by Gautam Chhugani wrote. Ether staking yields could be another tailwind for the cryptocurrency. Bernstein noted that initial ether spot ETF applications did not include yields due…

A fake pump.fun token reached a peak of more than 2,000,000% before flooring hard after taking advantage of the hype surrounding the flavia meme coin, run by flavia an AI agent created by Trevor McFedries. The flavia-impersonator meme coin was flagged as a scam by market traders that were on the look-out for flavia trading activity. Bearing the same name as the original, “flavia is online“, some traders fell for the elaborate set-up and impossibly high gains. One trader admitted to losing all his funds in the tradeoff due to the account being suspended in just 24 hours after it…

Félix and Bitso use the Stellar network to enable fast and affordable remittances for U.S.-based Latino immigrants sending money to Latin America. The partnership plans to expand financial services across Latin America, offering more accessible options. The collaboration between Félix, Bitso, and the Stellar network is transforming cross-border remittances for U.S.-based Latino immigrants, according to a recent report. By integrating blockchain technology and USDC stablecoin, the partnership delivers faster, cheaper, and safer ways to send money to Latin America. Conventional methods of remittances are still a tedious process. Senders can visit physical locations, pay expensive transaction charges, and expose themselves…

Bitcoin price continued its strong rebound as it rose for three consecutive days, reaching its highest level since July 29. Bitcoin (BTC), the original cryptocurrency and largest crypto by market cap, retested the psychological level of $68,000, meaning it has jumped by almost 40% from its lowest level in August. There are rising odds that Bitcoin will continue climbing. For one, the crypto fear and greed index moved from the greed zone of 37 last week to 58. BTC and other cryptocurrencies often rally when there is a sense of greed in the market. Bitcoin price has also formed a…