Author: NBTC
Seasoned trader Peter Brandt says Bitcoin (BTC) is flashing a common bull market pattern that typically precedes a burst to the upside. The trader, who gained legendary status after calling the 2017 Bitcoin collapse, says BTC may soon rally to around $80,000 as it threatens to take out its short-term diagonal resistance. However, Brandt warns that BTC may witness a significant correction after the rally to follow a pattern commonly seen in Bitcoin bull markets. “This same basic pattern has been common in past bull markets in Bitcoin.” Source: Peter Brandt/X Looking at the trader’s chart, he seems to suggest…
Financial giant BlackRock late Wednesday amended its filing with the SEC for its proposed spot Ethereum exchange traded fund (ETF). The May 29 update for the iShares Ethereum Trust is the first tangible sign of progress toward the market availability of an ETH-based ETF since the bombshell approval of the new financial vehicle last week. “This is almost certainly the engagement we were looking for,” observed Bloomberg ETF analyst James Seyffart on Twitter. “Issuers and SEC are working towards spot Ethereum ETF launches.” His colleague Eric Balchunas concurred that it was a “good sign,” noting that the other applicants will…
TL;DR Core (CORE) has significantly outperformed Bitcoin and many other major cryptocurrencies with a 350% price surge this year. Other digital assets related to BTC’s ecosystem, such as Sovryn (SOV) and Ordiswap (ORDS), also reported notable gains, with increases of 210% and 100%, respectively. CORE Leads the Pack Bitcoin (BTC) has been making serious waves since the beginning of the year, with its price rising from approximately $42,000 on January 1 to almost $67,000 on April 24 (a 60% increase). However, some cryptocurrencies related to its ecosystem have witnessed even more substantial gains over the same period, and Core (CORE)…
Users of social media platforms like X and Instagram are accustomed to seeing crypto millionaires posting snapshots of their extravagant lifestyles. However, one nation’s millionaires are notably absent from the gaudy feed of crypto influencers: China. In an attempt to enforce communist culture on mainland residents, the country’s internet regulator recently outlawed extravagant displays of wealth on social media. China’s Cyberspace Administration attracted attention to the rule by deleting a number of popular celebrities’ social media accounts. These included the 4.3 million-follower account of ‘China’s Kim Kardashian’ Wang Hongquanxing, which now shows an inaccessibility notice for ‘violation of self-discipline.’ “Once…
The debate about the Bitcoin (BTC) and gold rivalry took a new turn when legendary trader Peter Brandt weighed in on the conversation recently. In a post on the X app, Peter Brandt shared a chart, where he proved that over the past year, Bitcoin has reigned supreme over gold. Bitcoin versus gold rivalry For centuries, gold has served a dominant function as a hedge against inflation and as a store of value. Its efficiency as a store of value is, however, being questioned with the emergence of Bitcoin. While gold has a mild growth rate, Bitcoin has proven to…
The blockchain address – 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e – supposedly owned by DBS held 173,753 ETH at press time, according to Nansen. The address has already made $200 million from its ether holdings. DBS, the largest bank in Singapore, is an ether (ETH) whale, according to on-chain analytics firm Nansen. The blockchain address – 0x9e927c02c9eadae63f5efb0dd818943c7262fb8e – supposedly owned by DBS held 173,753 ETH, worth $647 million at press time. At the time of writing, Ether changed hands at $3,730. Nansen said that the address has made over $200 million from its ether holdings. CoinDesk reached out to DBS seeking confirmation of the holdings.…
In a series of substantial transactions that have caught the attention of the community, XRP whales have transferred over $20 million worth of the digital asset to unidentified wallets. These transactions, coupled with a recent uptick in the price of XRP, have sparked speculation and debate about the future trajectory of the cryptocurrency. 🚨 19,904,968 #XRP (10,921,539 USD) transferred from #Binance to unknown wallethttps://t.co/OthEaCLoXS — Whale Alert (@whale_alert) April 24, 2024 Whale Alert, a prominent X account known for tracking and reporting large crypto transactions, reported a significant transfer, stating that nearly 19.9 million XRP, valued at approximately $10.9 million,…
SEC Commissioner Hester Peirce proposed a cross-border digital securities sandbox in response to a joint consultation by the Bank of England and the Financial Conduct Authority (FCA). The proposal aims to foster innovation and enhance regulatory oversight by allowing firms in both the United Kingdom and the United States to experiment with distributed ledger technology (DLT) under a unified regulatory framework. “This joint proposal reflects a commendable commitment to incorporating innovation into the financial system,” Peirce stated in the response. She advocated for including US-domiciled firms in the UK’s digital securities sandbox (DSS), suggesting that expanded eligibility would promote cross-border…
The Bitcoin price has seen a notable fluctuation, briefly surpassing $72,500 on Monday before dipping below the $70,000 threshold on Tuesday. This movement can be attributed to a risk-off sentiment among investors, largely in anticipation of the latest US Consumer Price Index (CPI) figures today. Following a low of $68,200 on Tuesday, Bitcoin managed a slight recovery, stabilizing above $69,400 at the time of reporting. Concurrently, the Hong Kong Securities and Futures Commission (SFC) has updated its registry of virtual asset management funds early on April 10. Notably, the SFC is poised to announce the inaugural list of four Bitcoin…
Samson Mow, a vocal Bitcoin supporter and boss of the Bitcoin-focused company Jan3, continues to criticize Ethereum and all other altcoins, praising Bitcoin as the only worthy digital currency. This time, he took to his X (formerly known as Twitter) handle to talk about the recently approved spot Ethereum ETFs and bash them too. “S-coins do not help Bitcoin” The topic of Mow’s tweet published earlier today was “s-coins” as Bitcoin maximalists like to refer to altcoins, showing there disapproval. Commenting on the spot Ethereum ETF approval that took place last week, Samson Mow said that “s-coins do not help…