Author: NBTC

According to data from BitMEX Research, BlackRock’s Bitcoin spot ETF – IBIT –  has now set a new record, achieving a total net inflow of $2 billion. This feat allows IBIT to maintain its position as the best-performing fund of the bunch, following the approval of 11 Bitcoin spot ETFs by the US Securities and Exchange Commission on January 10. BlackRock’s IBIT Maintains Dominance As Total Net Flows Reach $744.6 Million On January 25, which marked the tenth trading day of the Bitcoin spot ETF market, BlackRock’s IBIT produced an unsurprising positive performance, notching $170.7 million in inflows. This gain…

Ethereum (ETH) is about witnessing a potential sell-off worth $1 billion. This significant transaction is rooted in actions by Celsius, a bankrupt crypto lender. Reports from on-chain analyst Lookonchain indicate that Celsius initiated the transfer of 459,561 ETH, estimated to be worth around $1.014 billion, to various exchanges. The breakdown of this large-scale distribution includes 297,454 ETH ($656.5 million) moved to Coinbase Prime, 146,507 ETH to Paxos Treasury, and smaller sums totaling 7,800 ETH ($17.2 million) sent to FalconX and Coinbase, respectively. Despite this transfer, Lookonchain disclosed that Celsius still maintains a reserve of 62,468 ETH, valued at roughly $139…

The US government has revealed its plans to offload a significant portion of its Bitcoin (BTC) holdings. This move has raised concerns in the crypto community, considering how much selling pressure this could add to what the crypto market is already facing.   US Government To Sell $130 Million Worth Of Bitcoin The Department of Justice (DOJ) gave notice of its intent to dispose of over $130 million worth of Bitcoin. These crypto assets form part of what had been forfeited to the government in its case against Joseph Farace. The DOJ specifically noted that it had seized almost 2875 BTC…

Charles Edwards, the founder of hedge fund Capriole Investments, offered an in-depth analysis of the Bitcoin market yesterday. His review offers a granular perspective on the aftermath of the historic ETF launches, the pivotal role of major players like Grayscale, and the interplay of market mechanics shaping Bitcoin’s trajectory. Bitcoin Market Summary: ETF Launch Edwards acknowledged the ETF launches as a pivotal moment, characterizing it as “ETF Mania.” He emphasized the hindsight realization that the ETF launch triggered a short-term “sell the news event.” Edwards elucidated, “A portion of this can be attributed to the Grayscale outflows of over $4B,…

Michael van de Poppe, a prominent crypto analyst, recently outlined three key factors that could herald a bullish phase for Ethereum, the second-largest crypto by market capitalization. One crucial factor he identifies is Bitcoin’s current behavior. The analyst pointed out that as the market leader, Bitcoin’s recent signs of bottoming out tend to precede altcoin rallies, hinting at a potential upswing for Ethereum. Moreover, Van de Poppe highlights the growing anticipation surrounding spot Ethereum exchange-traded funds (ETFs). According to Van de Poppe, the increasing buzz about these spot ETFs is a significant catalyst that could drive Ethereum’s value over the…

A crypto analyst, Elja on X, predicts that Ethereum (ETH) will reach a staggering $15,000 by 2025 based on technical analysis. The analyst argues that the current bearish sentiment in the crypto market is “temporary.” Moreover, Elja notes that the second most valuable coin by market cap follows a similar fractal pattern that fueled its previous major price rally in 2021. ETH to $15,000 | Source: Elja on X Is Ethereum Ready To Rip Despite The Current Consolidation? Sharing a screen grab of the current ETH price action, Elja says most people in crypto are “short-sighted” and only focus on immediate…

Chinese investors remain resolute in their pursuit of Bitcoin, despite the government’s ban since 2021. Bitcoin continues to attract substantial investment from Chinese capital, as Reuters reports today. Mainland China Is Still Buying Bitcoin Dylan Run, a finance executive in Shanghai, epitomizes this trend. Concerned about China’s economic outlook and the sluggish domestic stock market, Run ventured into Bitcoin in early 2023. As detailed in the Reuters report, he employed an astute strategy, utilizing bank cards issued by rural banks and keeping each transaction below 50,000 yuan ($6,978) to evade regulatory scrutiny. In his view, “Bitcoin is a safe haven,…

The price of Bitcoin has been on a bearish trend for the past few days now, which has led to several crypto analysts predicting an even more bearish action for the crypto asset in the near future. Bitcoin Price To Crash To $38,130 Ali Martinez, a well-known cryptocurrency analyst and enthusiast, has shared a worrying prediction for the short-term price action of Bitcoin. The analyst took to the social media platform X (formerly Twitter) a few hours ago to share his projections with the crypto community. Martinez’s forecast came amidst the recent crash craze encompassing the entire crypto market. The…

Bitcoin ETFs have arrived, courtesy of the approval granted by the US Securities & Exchange Commission. Traders can access platforms of asset managers like BlackRock and Fidelity, and begin their journey with BTC effective January 10, 2024. However, there are certain aspects that the community is still trying to deal with – transparency, hope, and hesitation. Transparency takes center stage On-chain transparency following the approval of Bitcoin ETF applications has been given priority. It had to, given worries about market manipulation and misuse of the mechanism’s use to escape unlawful fund transfers within and across national borders. Bitwise, for one,…

A recent development shows that Bitcoin whales have refused to be deterred by the recent price action of the flagship cryptocurrency. Instead, they have chosen to see it as an opportunity to accumulate more BTC. This move could turn out to be really profitable based on a recent analysis by crypto analyst Ali Martinez.  An Increase In Bitcoin Whales Ali Martinez stated in an X (formerly Twitter) post that 46 new entities now hold 1,000 BTC or more, which represents a 3% increase in just two weeks. Data from BitInfoCharts further shows that there are now 1,898 wallet addresses holding…