Author: NBTC
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…
On the 6th of September, the US market of exchange-traded funds saw another day with huge outflows. Spot On Chain, a famous on-chain analytics provider, revealed that the Bitcoin ETFs witnessed a massive $170M in outflows while Ethereum ETFs recorded $6M in withdrawals. The analytics platform took to its official X account to offer insights into the present outlook of the ETF market. 🚨 US #ETF 06 SEP: 🔴$170M to $BTC and 🔴$6M to $ETH🌟 BTC ETF UPDATE (final): -$170M• None of the US Bitcoin ETFs have seen any inflows for 2 consecutive days.• The total flow for the week…
FLOKI’s 24-hour trading volume surged to $492 million, outpacing SHIB and WIF. Integration with DWF Labs Liquid Markets attracted institutional investors, boosting FLOKI’s volume. FLOKI’s innovative ecosystem and community engagement are reshaping the memecoin landscape. FLOKI has made a significant leap in the crypto market. In just 24 hours, its trading volume soared to an impressive $492 million. This surge has outpaced both Dogwifcoin (WIF) and Shiba Inu (SHIB), which recorded volumes of $408 million. But what fueled the latest performance? 🚨 JUST IN: $FLOKI ( @RealFlokiInu ) flips $WIF and $SHIB in 24 hour trading volume🟧 @RealFlokiInu 24h Volume…
After undergoing a flash crash, the price of Bitcoin (BTC) has made a significant recovery, with analysts maintaining that the maiden cryptocurrency is destined for a further bull run. Particularly, in a TradingView post on August 8, Alan Santana offered a comprehensive outlook on Bitcoin’s potential price trajectory, drawing attention to key indicators and patterns. According to the expert, Bitcoin’s monthly Relative Strength Index (RSI) is currently at 57.59. While this reading generally indicates a bullish trend, Santana warned that the RSI’s downward trajectory could spell trouble for Bitcoin in the short term. Historically, an RSI in the bullish zone…
On September 6, Jesse Pollak, the lead developer of Coinbase-backed Ethereum Layer-2 network Base, announced that three congressional candidates had begun accepting cryptocurrency donations through the platform. Although Pollak did not disclose their names, this move highlights the growing acceptance of crypto donations in the current election cycle. Crypto Donations Gain Momentum via Base Pollak mentioned that Supportcrypto.org, a website run by Digital Democracy, onboarded the congressional candidates. Supportcrypto.org allows users to donate using over 240 cryptocurrencies, including Bitcoin and Ethereum, or through credit card payments. The platform claims that crypto donations are faster, more secure, and comply with US…
A crypto pundit calls for patience among Shiba Inu proponents, spotlighting the time it took Dogecoin to rise to significant success. Shiba Inu (SHIB) caught the attention of the broader crypto community following its meteoric surge in the 2021 bull run. Launched in August 2020 by Ryoshi, SHIB quickly skyrocketed to become the second-largest meme coin by market cap. In doing so, Shiba Inu surpassed the expectations of many, including Ethereum founder Vitalik Buterin. Shiba Inu Rich History Its astronomical rise, which transformed a $12 investment to $1 million in just over a year, has triggered optimism of a repeat.…
Theta Labs has signed a multi-year agreement with Seoul Women’s University to provide its AI research lab access to Theta EdgeCloud’s decentralized GPU computing power. As stated in a press release shared with crypto.news, the partnership will allow the AI to Everything lab at SWU to leverage Theta EdgeCloud’s decentralized network of GPUs, reducing costs and boosting computational power for their AI research across healthcare, bioinformatics, and finance. Built on top of the Theta Network (THETA), Theta EdgeCloud is a DePIN-powered hybrid cloud-edge computing platform. It utilizes over 30,000 distributed nodes to offer scalable, cost-effective GPU computing resources for AI,…
Bitcoin has been on the rise as the Bank of Japan announced that it will not raise interest rates anytime soon and global markets are recovering. While the BTC price rose above $62,000 this morning, leaving the bears in the lurch, Matrixport analysts said that Bitcoin could rise with the US inflation data to be announced next week. Matrixport analysts said in their latest report that they expect Bitcoin and the market to react positively if the US inflation data falls below 3%. “A relief rally may be imminent as Bitcoin awaits US inflation data next week. Bitcoin is currently…
In the past 15 days, the stablecoin economy experienced modest yet steady expansion, adding $1.08 billion to its overall value. During this time, tether’s market capitalization increased by 790 million. Modest $1.08B Growth in Stablecoin Market Since Aug. 23 Growth in the stablecoin economy has slowed, though it continues to expand, as highlighted by recent statistics. From Aug. 23, 2024, to Sept. 7, 2024, the stablecoin market grew from $169.72 billion to $170.80 billion, a gain of $1.08 billion. On Saturday, the stablecoin economy dominated trade volume, contributing $80.16 billion of the $114.2 billion traded in the last 24 hours.…
The crypto market is undergoing a major bearish retreat as Bitcoin (BTC) has forced other assets to a new low, including Dogecoin (DOGE), per CoinMarketCap data. While the price of Dogecoin took the bearish bait, other important metrics have stayed elevated. Dogecoin price sends bullish signal with volume boost At the time of writing, the price of Dogecoin had added a new zero and was changing hands for $0.09925, down by 6.25% in 24 hours. Rather than focus on this price outlook to redefine the next pace, investors have chosen a more bullish path for DOGE. The trading volume has…