Author: NBTC
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…
Bitcoin has uptick to $50k as the article is being drafted. More surges could be on the way; however, traders may want to be cautious about where the prices move on the graph. Bitcoin is looking to hold the price steady prior to the Halving event. There is low selling pressure now, and the task is to sustain a higher buying pressure. That will pave the way for a larger price rise. Things working for Bitcoin are Ordinals and a new interest in Bitcoin-based applications. There is a positive shift in the way in which the community now perceives the…
Plutus V3 is live on SanchoNet. The team has launched it with advanced Plutus primitives along with more tools for Cardano developers looking to write smart contracts. The overall objective is to support features pertaining to governance and voting. Moreover, Plutus V3 supports interoperability between blockchains and enhances the adoption rate of smart contracts. Input Output Global has been working on it in collaboration with MLabs. Plutus V3 works in the background to make sure that developers have all the tools per the industry standard. It builds on the Valentine upgrade, which added support for SECP elliptic curves. One feature…
Bitcoin, the biggest crypto in the world, has finally hit the 50,000-dollar mark. The crypto reached this benchmark for the first time in over two years. In the past year, Bitcoin has achieved a whopping 129.19% surge based on CoinMarketCap data. In the past month, the crypto has surged 16.42%, and it gained 3.93% in the past 24 hours. Antoni Trenchev, Nexo’s co-founder, stated that reaching $50k is a massive milestone for BTC. Since the launch of the Bitcoin ETF, this benchmark has established psychological support for crypto. The entire crypto market enjoyed a boost starting this week. Coinbase gained…
Bitcoin is set to conduct its fourth halving in April 2024. The biggest crypto in the world has been on a roll for several months. The bullish surge began with speculations that the SEC had approved the first US Bitcoin ETF. The momentum continued for months until the SEC granted clearance for a handful of Bitcoin ETFs. Now, Bitcoin is trading at the $50,000 mark, with a 4.04% surge in the past 24 hours. The asset has gained 17.14% in value in the past 7 days, and the latest BTC forecast sees it going even higher. With Bitcoin’s fourth halving…
In Grayscale’s latest report, “2024 Halving: This Time It’s Actually Different,” Michael Zhao, provides an in-depth analysis of the evolving dynamics within the Bitcoin ecosystem as the next halving event approaches in mid-April 2024. The report argues for a significant departure from previous cycles, underlined by the advent of spot Bitcoin ETFs in the United States, evolving investment flows, and innovative use cases emerging within the Bitcoin network. The Essence Of Bitcoin Halvings Halvings, designed to halve the reward for mining Bitcoin transactions every four years, are pivotal in maintaining Bitcoin’s scarcity and disinflationary profile. Zhao articulates, “This disinflationary characteristic…