Author: NBTC

Bitcoin could potentially retest its all-time high later this year should the U.S. economy avoid a recession, Grayscale Research says. Despite the recent roller-coaster of volatility in the crypto market, analysts at Grayscale Research forecast that prices could climb higher in the coming months. In an Aug. 8 research report, Grayscale analysts suggested that if the U.S. economy achieves a “soft landing” and avoids recession, token valuations could rebound, with Bitcoin (BTC) potentially revisiting its “all-time high later this year.” “Shifts in the U.S. political landscape around the crypto industry may also reduce downside risks to valuations compared to past…

Market analysts suggest investors may have overreacted to Fed governor Christopher Waller’s latest speech, while some warn there is still no clear evidence to support a 50 basis point rate cut. Waller’s highly anticipated speech triggered significant market volatility, largely due to his promises of “strong action” and potentially “early rate cuts” if necessary, according to analyst Cameron Crise. However, Crise noted that the market may have overlooked the conditional nature of Waller’s remarks, particularly the emphasis on the word “if.” In his speech, Waller expressed optimism that the economic expansion would continue and spent considerable time explaining why the…

XRP investors could witness their holdings surge to unprecedented levels if XRP ever reached the audacious $10,000 price target. The crypto market has not been particularly favorable to some assets, including XRP. Since hitting an all-time peak of $3.31 in January 2018, XRP has failed to surpass this price level. Within this period, other crypto assets have witnessed new heights across two market cycles. For instance, Bitcoin (BTC) surpassed its 2017 peak of nearly $20,000 during the 2021 market cycle. The premier crypto asset hit a new high of $69,000 in November 2021. Following this top, BTC again reached a…

Cryptocurrency and broader financial markets showed signs of stabilization midweek after experiencing significant declines from August 2 to August 5. Crypto Assets and Financial Markets Stabilize After Recent Drops Despite traditionally low correlation between major tokens and other asset classes, recent volatility in traditional markets has impacted crypto valuations. The decline began after a weaker-than-expected U.S. employment report on Aug. 2. The report pointed to a rise in the unemployment rate reminiscent of past recessions, raising fears of an economic downturn. This led to weaker performance in cyclical assets like stocks, while strengthening traditional safe havens like U.S. Treasuries, the…

Welcome to the On the Margin Newsletter, brought to you by Ben Strack and Casey Wagner. Here’s what you’ll find in today’s edition: Making sense of the jobs report that didn’t necessarily clear up what size rate cut the Fed could opt for. The formalized call for a crypto question at next week’s presidential debate, and why it’s needed. Friday means a recap of economic data and developments! More Goldilocks data sends markets lower The pivotal report that some analysts say will determine the size of the Federal Reserve’s interest rate cut later this month is here, and, shocker, it…

XRP is down nearly 4% in the last 24 hours, with the recent crash coinciding with an enormous whale movement from Ripple. The recent XRP price drop is a product of a broader crash affecting the entire crypto market. Amid the turbulence, market tracking resource Whale Alert recently spotlighted the movement of 200 million XRP worth $118.9 million from a Ripple wallet to an unknown address, “rP4…xv3.” Whale Alert on X Details of the Transactions Data from XRPL explorer Bithomp confirms that the transaction occurred yesterday at 19:30 UTC, with the recipient address “rP4…xv3” also belonging to Ripple. Following this…

Crypto is a shifting and complex space. As it matures, analysts and enthusiasts are constantly seeking ways to understand and predict Bitcoin’s behavior. One intriguing concept that has gained attention is the Bitcoin power law. This statistical model attempts to shed light on Bitcoin’s long-term price trajectory, sparking both excitement and controversy within the crypto community. At its core, the Bitcoin power law is a mathematical relationship between Bitcoin’s price and time. It works by plotting historical price data on a logarithmic scale, specifically looking at the log of price versus the log of time. This data is then fitted…

In a significant development in the sector of MEV bots, an exclusive transfer witnessed a massive yield from only $100. A popular blockchain analytics firm Arkham disclosed that a bot going by “0x12F” conducted a timely trade through Uniswap, resulting in the exploitation of an illiquid pool for a huge yield in COMBO tokens. This bot just turned $100 into $37K INSTANTLYMEV Bot 0x12F purchased $37K of COMBO tokens with only 0.05 ETH.It could do this because one unlucky user had just sold $37K of COMBO into an illiquid Uniswap pool – and received only $27 in return.The bot paid…

The Tron blockchain has reduced gas fees on SunPump by 50%, with Justin Sun encouraging users to take advantage of the platform’s low transaction costs. The controversial crypto executive hinted at further developments aimed at boosting daily transactions and increasing market share. SunPump has quickly gained attention, offering a platform for token generation that is beginning to overshadow Solana’s Pump.fun. Tron Reduces Gas Fees By 50%on SunPump Justin Sun shared the news in a Tuesday announcement, following up on a commitment he made last week to lower fees and raise the energy cap without affecting profitability. As of August 22,…

Bitcoin’s price has finally found support and is demonstrating a rapid recovery. Yet, there is still one major obstacle it needs to break through. Technical Analysis By TradingRage The Daily Chart On the daily chart, the BTC price has experienced a massive drop since getting rejected from the $68K resistance level. However, the decline has come to a halt at around the $50K mark, and the market has since spiked back above the $60K resistance level. Currently, the price is testing the 200-day moving average, which is located around $61K. For BTC to continue its bull run, the 200-day moving…