Author: NBTC
BlackRock is expected to close the market at a total volume of $5 billion. The predicted estimate is based on the number for February 14, 2024, when IBIT—that is, iShares Bitcoin Trust—bagged a daily volume worth $720 million. That is the highest figure since the time of the launch of IBIT. The rise is built on what has happened in the last 3–4 days. The lowest that the daily volume went to was on February 6, 2024. A total of approximately $50 million was recorded on that day. However, it followed a constant rise on February 13, 2024, taking it…
AltLayer, a pioneering decentralized platform that allows rollup network building in collaboration with smart contract development giant Matter Labs, has finally been revealed, marking another significant success for the cryptocurrency and blockchain industries. By integrating Matter Labs’ ZK-rollup-based zkSync protocol, this agreement would boost Ethereum’s scalability and efficiency. AltLayer provides a platform with resources and architecture for developers and users to roll out utilizing its more advanced ZK Stack rollup SDK. The name ZkSync has been associated with cutting-edge technology, resulting in two advantages: vastly faster transaction processing speed and significantly lower gas fees. This is a significant advantage for…
Matt Dines, the Chief Investment Officer at Build Asset Management, has identified a classical ‘Cup and Handle’ pattern in the Bitcoin (BTC) price chart, which he believes could signal an impending rally to $75,000. This technical formation is often considered a strong bullish signal and is closely watched by market analysts and traders. Bitcoin Price Validates Cup And Handle Pattern The ‘Cup’ part of the pattern, resembling a bowl or rounding bottom, began forming in March 2022 when the price plunged below $48,000 and entered one of the longest Bitcoin bear markets. The pattern reached its lowest point at approximately…
Bitcoin bulls are back in charge, with the world’s leading cryptocurrency surging past $52,000 on Wednesday following a long hiatus. This rally comes on the heels of a brief dip below $50,000 triggered by hotter-than-expected US inflation data, but investors shrugged it off, demonstrating resilient confidence in the digital asset’s future. Bitcoin is up more than 21% so far this year. Bitcoin Shows Mettle With $52K Breach This latest surge marks a significant milestone, not just for Bitcoin but for the entire cryptocurrency ecosystem. After 26 months, the top crypto asset has officially surpassed the coveted $1 trillion market cap, a…
Ripple, a market leader in enterprise blockchain and cryptocurrency services, will acquire the certified platform for digital assets Standard Custody & Trust Company. This exemplifies Ripple’s commitment to regulatory compliance, enabling the organization to expand its existing product line and explore additional prospects. By means of this acquisition, Ripple will gain Standard Custody’s money transfer certification and limited purpose trust charter, which will contribute to its growing portfolio of accreditations. A Monetary Authority of Singapore Major Payment Institution License, a New York BitLicense, and approximately forty money transmitter certificates are all held by Ripple and its subsidiaries. An additional accreditation…
On Tuesday, the Bitcoin price plunged from $49,900 to $48,300 following the release of the US inflation data. As NewsBTC reported, the data came in hotter than expected. Instead of 2.9%, headline CPI came in at 3.1%, while the core CPI was even at 3.9% instead of the expected 3.7%. The traditional financial market reacted negatively and dragged Bitcoin down with it, as expectations for interest rate cuts have shifted further into the future. The prediction markets are now pricing in only 4 rate cuts in 2024 after CPI inflation reached 3.1% in January. This is a huge drop in…
Bitcoin, the undisputed king of cryptocurrencies, is making headlines again with a recent price surge that has pushed it past the coveted $50,000 mark. This rally, coupled with an “extreme greed” reading on the Crypto Fear and Greed Index, paints a picture of a market brimming with optimism, but also raises concerns about potential overheating. Greed Galore: Index Hits Highest Since ATH The Crypto Fear and Greed Index, a widely used indicator of investor sentiment, recently skyrocketed to 79, its highest level since November 2021, when Bitcoin peaked at a record-breaking $69,000. This “extreme greed” reading suggests that investors are…
In recent weeks, Ethereum has witnessed a noticeable uptick in its market price, reaching a one-month high and showcasing a growing demand for the asset. Amid this development, the on-chain analytics platform Lookonchain revealed an Ethereum whale’s noteworthy strategy, marking a bold stance on Ethereum’s future trajectory. Strategic Accumulation Amid Rising Prices According to Loookonchain, an unknown whale has been actively increasing their Ethereum holdings, utilizing the Spark platform’s revolving loan feature. Spark platform is a decentralized finance (DeFi) product that enables users to borrow stablecoins like USDC or DAI against their cryptocurrency holdings. This investor has managed to withdraw…
Tuur Demeester, a Bitcoin OG and researcher for Adamant Research shared his bullish outlook for Bitcoin via X (formerly Twitter), anticipating its price could escalate to between $200,000 and $600,000 by 2026. Demeester’s prediction is predicated on the influx of trillions of dollars through global bailouts and stimulus measures, which he believes will significantly propel Bitcoin’s valuation. He remarked via X (formerly Twitter), “In ’21 bitcoin topped at $69k. I’m targeting $200-$600k by 2026. Fueled by $ trillions in global bailouts/stimulus,” indicating a strong conviction in the cryptocurrency’s future amidst expansive monetary policies. In ’21 bitcoin topped at $69k. I’m…
Wall Street titan and Asset manager Franklin Templeton has applied for an Ethereum Spot Exchange-Traded Funds (ETF) after a struggle to gain approval for their Bitcoin Spot ETF in early January. Asset Manager Files For Spot Ethereum ETF Asset managers have gravitated toward the Ethereum spot ETF since the United States Securities and Exchange Commission (SEC) approved the Spot Bitcoin ETF. Franklin Templeton is the latest manager to apply with the SEC to get approval for this financial product. The asset manager’s move came after successfully introducing the BTC spot ETFs. This is a notable step toward making more crypto…