Author: NBTC

The bull market euphoria appears to have come to a screeching halt as the crypto market correction continues and digital assets keep dumping. On April 16, prominent market analyst “Cold Blooded Shiller” told his 269,000 followers on X that Bitcoin is “still the cloud that hangs over crypto.” BTC has retreated 15% from its March 14 all-time high, but historical market cycles have seen corrections of more than 30%. This could potentially send BTC prices back to around $51,000, which could send the rest of the altcoins into an even deeper freefall. This is still the cloud that hangs over…

Ethereum hit a two-month high of $3,841 yesterday. Technical analysis indicates resistance at $3,841, and support at $3,367. Ethereum, the second-largest cryptocurrency by market capitalization, experienced a significant surge of nearly 30% yesterday, surprising investors. This comes as Ethereum’s price movement has been relatively stagnant since the start of 2024, even as Bitcoin surged past $73,750.07. Yesterday, Ethereum hit a two-month high of $3,841. Currently, ETH is trading at $3,755.31, with a 3% increase, although its trading volume has decreased by 10%. The recent surge in Ethereum’s price is accompanied by the most bullish crowd sentiment since September, according to…

Farallon Capital Management, Cetera Investment Advisers, and BigSur Wealth Management have reported multi-million dollar investments in spot Bitcoin ETFs in the first quarter. Farallon Capital, a San Francisco-based hedge fund manager, disclosed an $85.2 million investment in Grayscale’s GBTC on May 24. Based on Fintel data, the company is among the 10 firms with the largest GBTC positions. Independent wealth hub Cetera Investment Advisers disclosed a $22.6 million investment in GBTC on May 24, placing it among the 25 firms with the largest GBTC positions. BigSur Wealth Management disclosed a $3.3 million investment in BlackRock’s IBIT on May 22, placing…

Litecoin founder Charlie Lee believes the US Security and Exchange Commission (SEC) will approve a Litecoin (LTC) exchange-traded fund (ETF). Lee shared his views during a recent interview with Bitcoin Bros, noting that its likely not if but when this happens. In his opinion, the LTC creator sees Litecoin as more similar to Bitcoin – which has multiple spot ETFs trading in the United States following a regulatory nod from the SEC early this year. Litecoin creator @Satoshilite optimistic about the prospect of a #Litecoin Exchange-Traded Fund (ETF)https://t.co/ArgUzfunO8 — Litecoin (@litecoin) April 30, 2024 According to Lee, Litecoin is a…

The Biden administration’s stance on crypto appears to be softening. I feel comfortable saying this, despite the yearslong “whole-of-government” onslaught against the industry, due to a few key advancements in recent weeks. Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates. This is an excerpt from The Node newsletter, a daily roundup of the most pivotal crypto news on CoinDesk and beyond. You can subscribe to get the full newsletter here. First, and perhaps most significantly, Monday’s news that the U.S. Securities and…

Bitcoin’s upcoming halving may trigger short-term selling, but Crypto.com CEO Kris Marszalek remains optimistic about its long-term impact on the market. Crypto.com CEO Kris Marszalek anticipates that the upcoming Bitcoin halving event may lead to short-term selling volatility, yet maintains optimism regarding its long-term implications, considering historical patterns in BTC price movements following similar network updates. In an interview with Bloomberg, Kris Marszalek highlighted the historical trend of price increases following halving events but acknowledged uncertainty due to Bitcoin’s recent record highs. In March, Bitcoin’s price set a new all-time high, soaring to $73,750 (CoinMarketCap data), which was the first…

Ethereum has experienced an alarming price surge, increasing by 30% since Monday, and is now nearing $4K for the first time in 70 days. Analysts attribute this rally to the SEC’s more favorable stance on spot Ether ETFs. This change in perspective has prompted market analysts to increase the likelihood of these ETFs being approved to 75%, driven by active discussions about speeding up 19b-4 filings. According to Nate Geraci, a notable commentator on cryptocurrency developments, the SEC is facing a decision deadline this week concerning spot Ether ETFs. SEC decision deadline this week on spot eth ETFs…SEC must approve…

Following the Fed’s decision to keep interest rates steady, many major US banks revised their interest rate forecasts. Here’s a summary of his latest predictions: Bank of America predicts that the first reduction will be made in December 2024 and a total reduction of 25 basis points (BPS) will be made throughout the year. Barclays and BNpp share similar views and estimate that the first reduction will be made in September and December, respectively, and a 25 basis point reduction will be made in 2024. Citigroup expects an earlier and larger reduction, estimating that the first reduction will be made…

CryptoQuant, a famous crypto data insights provider, has recently announced its latest partnership. As per the platform, it is now joining forces with the well-known blockchain platform TON (the open network) to facilitate its clients. On its official account on the social media platform X, the company revealed the details of the respective partnership. We’re thrilled to announce our partnership with @ton_blockchain! 🤝Now, you can access $TON data on CryptoQuant.Check our queries for target=”_blank”>https://t.co/sQecXZqYdU pic.twitter.com/DCvdMAVGhI — CryptoQuant.com (@cryptoquant_com) April 30, 2024 CryptoQuant and TON Join Forces to Improve User and Developer Experience The platform disclosed that, as included in the…

Commissioner Summer Mersinger, of the Commodity Futures Trading Commission (CFTC), is one of the few U.S. regulators who is routinely willing to defend the crypto industry and call out what she sees as overzealous oversight. She will be speaking at Consensus 2024 in Austin, Texas, on May 30. CoinDesk caught up with Mersinger to discuss the Cain and Abel rivalry between the CFTC and U.S. Securities and Exchange Commission (SEC), how her agency decides which enforcement actions to pursue and her views on a variety of issues, including the CME possibly getting into the spot bitcoin market, the emerging world…