Author: NBTC
On-chain data shows an Ethereum metric is giving a bullish signal as the cryptocurrency’s price has broken past the $2,400 barrier during the past day. Ethereum Has Continued To Leave Exchanges Recently In a CryptoQuant Quicktake post, an analyst explained the recent relationship between the Ethereum price and data of the exchange netflow indicator. The “exchange netflow” here refers to a metric that keeps track of the net amount of the asset entering or exiting out of the wallets of all centralized exchanges. The indicator’s value is calculated by subtracting the outflows from the inflows. When the flow has a…
Fidelity has published its quarter breakdown, showing how the market may react for Bitcoin and Ethereum. Per that report, the short and long term outlook is positive. The conclusion reflects sentiments as of the end of 2023. It does, however, consider the upcoming Bitcoin Halving, emphasizing how it may boost the price of BTC. For ETH, it is likely to rely on the next upgrade, which is scheduled to happen in 2024. Bitcoin rose by ~154% by the end of 2023 and is now up by 92.63% in the last 12 months. Bitcoin halving will programmatically occur in April to…
The launch of Bitcoin dates back to January 2009. It is credited to the efforts of Satoshi Nakamoto. While the actual identity of Nakamoto remains a mystery, it is becoming clearer every day that the goal is to have a decentralized and digital currency for people across the world. One of the few drawbacks that it has been experiencing pertains to volatility. This is evident from the most recent fall to a value of less than $40,000 hours after it surpassed the milestone of $47,000. That raises the question of whether Bitcoin is headed toward a new height or if…
The BNB Beacon Chain (BEP2) is expected to collapse within the following months completely. Binance assists users by providing support for the BEP2 network and facilitating the transition process. The project team formally proclaimed this in January of 2024. Binance has proactively established connections with all registered projects with tokens listed on the BEP2 network. The objective is to determine whether or not they effectively commence a continuous shifting procedure in the presence of their token holders. Users are strongly advised to deposit BEP2 Binance-pegged tokens, or B-tokens, into their Binance accounts before the BEP2 network goes offline. After the…
Bitcoin is back above $44,000 for the first time since the Spot Bitcoin ETFs were approved for trading in January. This price surge is believed to be due to several factors that have played out in favor of the bulls in recent times. BTC Whales Accumulate More Bitcoin Citing data from Glassnode, crypto analyst Ali Martinez revealed recently that Bitcoin whales have been accumulating more BTC, with around 73 new addresses now holding 1,000 BTC or more. This figure is said to mark a 3.66% increase in the last two weeks, thereby continuing the accumulation trend. NewsBTC had previously reported…
Avalanche recently announced supporting Citi FX solution under project guidance. The network released an official post and tweet to inform users about the development. The post read that Citi leveraged Avalanche to test an app to price and execute bilateral spot FX trades. With Citi’s on-chain solution, users can track real-time price quotes. At the same time, the solution records simulated trade executions on the Avalanche network. It supports cryptographically and immutably secure trade data record-keeping. This application is a core part of Project Guardian, a collaborative effort by the MAS (Monetary Authority of Singapore) and the financial market. Recently,…
Bitcoin (BTC) has started riding the recent bull market wave and rising with fresh gains after weeks of sluggish momentum, with crypto analysts predicting more potential gains for the leading cryptocurrency asset in the coming days. Bitcoin To See A Correction After Surging To $45,000 A cryptocurrency expert from Cheeky Crypto has made a daring forecast for Bitcoin. The analyst revealed his recent projections during one of Cheeky Crypto’s latest episodes on YouTube. His predictions came in light of the price of Bitcoin closing Wednesday on a positive note, leading the altcoin market as a whole with it. As the…
The Bitcoin price has experienced a notable increase of over 4% in the last 12 hours, marking a departure from the recent lull. This movement follows a bull pennant breakout, with the price of Bitcoin now aiming for the $55,000 mark. The 4-hour (BTC/USD) chart below shows Bitcoin trading at $44,609, having just breached the confines of a bullish pennant pattern—a bullish continuation signal frequently followed by an upward price trajectory. BTC price, 4-hour chart | Source: BTCUSD on TradingView.com What This Means For Bitcoin Price The pennant, which is characterized by converging trend lines following a substantial price move,…
Bitcoin (BTC) shook off recent bearish whispers and roared back to life on Wednesday, clawing its way past $44,000 and marking a four-week high as the top crypto asset approaches the vaunted $45K level. This bullish charge was fueled by a potent cocktail of factors, from resurgent accumulation by major investors to record highs in US equity markets and a surprise regulatory shift from Thailand. Bitcoin Surges Amid Whale Activity The day began with Bitcoin hovering around $42,700, but it quickly gained momentum, reaching a peak of $44,300 – its loftiest perch since January 12th. This 2.5% surge in 24…
Bitcoin miner reserves can often be a tell for where the market could be headed next due to their large holdings. These reserves going up or down can pinpoint how miners are looking at the market, and a drop in their reserves can be bad for the BTC price. Miners Reserves Drop By 14,000 BTC Bitcoin miners, who are responsible for confirming transactions on the blockchain and keeping the network safe, seem to be turning toward selling rather than accumulating. According to a CryptoQuant report, these miner reserves have seen a notable drop since 2024 began. Their holdings dropped by…