Author: NBTC
An analyst has explained that the latest cooldown in the Ethereum futures market could suggest there is potential for a price rise to resume for ETH. Ethereum Funding Rates Have Seen A Decline Recently An analyst in a CryptoQuant Quicktake post explained that the ETH funding rates have seen a cooldown from their previously overheated levels. The “funding rate” refers to the periodic fees that futures contract holders on derivative platforms currently exchange with each other. When the value of this metric is positive, it means that the long contract holders are paying a premium to the shorts to hold…
Bitcoin has been experiencing a downward trend recently, dropping from its 2023 all-time high of about $49,000 to below $41,000 at the time of writing. Despite this significant price correction, popular crypto analyst Kevin Svenson has predicted a new all-time high for BTC in the months after the 2024 Bitcoin halving. Bitcoin Anticipated To Hit New All-Time High Svenson released a YouTube video last week, predicting that BTC’S new all-time high is set for June 2024. Despite the hype surrounding the approval and launch of Spot Bitcoin ETFs, the crypto analyst revealed that Bitcoin has been witnessing significant declines and…
Chris J Terry, a cryptocurrency analyst and enthusiast, has revealed his insights on the price action of Bitcoin, predicting a continuous decline in the price of the crypto asset. Analyst Says Bitcoin Will Continue To Drop The crypto analyst shared his insights regarding Bitcoin with the cryptocurrency community on the social media platform X (formerly Twitter), anticipating a possible “continuation of a flat or declining trend.” He highlighted that the downtrend will continue until Grayscale Bitcoin Trust (GBTC) is fully “liquidated.” According to him, the liquidation will be possible with a whopping $25 billion worth of selling activity over the…
It was a historic moment when the US Securities and Exchange Commission approved 11 applications for the Bitcoin ETF. The community sang praises for estimates that the token will now inch closer to its ATH or at least continue surging every possible day. However, questions surround BTC, talking about the possibility of Bitcoin ever becoming a way for people to hold onto their values. This comes in the wake of price volatility that has not been resolved despite the approval of ETF applications. Not that it was posed since the beginning, considering every financial instrument or investment product is subjected…
Ethereum is devoting its utmost endeavors to mitigating the scalability concern arising from its prohibitively high transaction fees, which have accumulated to $5. This represents a significant barrier to implementing decentralized applications in terms of increased adoption and overall efficacy. At the moment, Ethereum occupies the preeminent position among platforms supporting smart contracts. In contrast, Layer 2 services such as Optimism are increasingly emerging as the most apparent alternatives. It is offering significantly reduced transaction fees, occasionally as little as $0.01. The aforementioned solutions are designed to enhance the Ethereum network by implementing accelerated processing times and decreased transaction fees.…
The rise of digital actuality has caused many unbelievable developments in expertise, however it has additionally created a brand new set of challenges. One in every of these challenges is the emergence of metacrime, a class of crime distinctive to the metaverse. In response to emergence of metacrime, Interpol has proposed the institution of digital metaverse police stations. These digital actuality areas goal to offer providers akin to bodily police stations, equivalent to crime reporting, criticism filings, and internet hosting group conferences. Interpol’s Report highlights the pressing want for legislation enforcement businesses to determine a metaverse police presence. This transfer…
An anonymous Bitcoin whale may have triggered a massive sell-off panic in the crypto market recently. According to an X (formerly Twitter) post by Ali Martinez, the whale sold off a whopping 59,000 BTC totaling over $2.45 billion. Bitcoin Whale Dumps 59,000 BTC In his X post, Martinez announced that a Bitcoin whale has initiated a large-scale dump, selling off approximately 59,000 BTC. He shared a chart displaying the Bitcoin Spend Output Age Bands which revealed that the Bitcoin whale had initially acquired 59,346.950 BTC during the last six months of 2023. A staggering 59,000 $BTC, initially purchased 3-6 months…
The year 2024 marks the dawn of a new era, not just for technology but for finance, as a major victory was achieved for Bitcoin Spot ETFs (Exchang-Traded Funds). It’s now the era where the past will be appreciated for its foresight and doggedness. When the pioneer cryptocurrency and digital currency, Bitcoin launched in January 2009, it was nothing like a real-world asset or of an ‘agreed’ digital value, but an almost neglected bag of gold as it faced enough rejection from all phases. Even with Satoshi’s Whitepaper, Bitcoin wasn’t given a cordial welcome in the world of finance. However,…
The story has not been much different for the price of Bitcoin this week, as the premier cryptocurrency has struggled to capitalize on its recent advancements. According to data from CoinGecko, BTC is down by more than 3% in the past week, putting doubts over the continuation of the bull run. However, the latest on-chain revelation has offered some relief, suggesting that the value of Bitcoin might be up for substantial recovery over the next few weeks. Can Whale Accumulation Trigger Continuation Of Bull Cycle? Popular crypto analyst Ali Martinez revealed – via a post on the X platform –…
Data from the trading analytics platform BitMEX Research reveals that Fidelity’s Bitcoin spot ETF – FBTC – has now witnessed a total inflow of over $1 billion. This development comes as BTC attempts to rebound from its recent dip over the last two weeks with a 1.56% gain in the past day, based on data from CoinMarketCap. Fidelity Joins BlackRock On Exclusive $1-B List, As Grayscale’s ETF Continues To Bleed Following the official launch of Bitcoin spot ETF trading on January 11, Fidelity has now become the second asset manager, with its BTC spot ETF recording an accumulative inflow of…