Author: NBTC

NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

Bitcoin Eyes $220K as RSI Data Suggests Cycle Top Not Yet In

BitcoinDec 3

Bitcoin historical price patterns, especially as it pertains to its monthly RSI, suggest that the firstborn crypto has not yet witnessed its top for this cycle. This is according to a recent analysis by crypto trader and market analyst Mags (@thescalpingpro). He suggested that if history repeats, Bitcoin’s price could surpass the $200K mark, citing the current position of the monthly Relative Strength Index (RSI). The accompanying chart shared by Mags shows Bitcoin’s price movements during previous cycles. Data from the chart confirms that each of these cycles has featured halvings, bottoms, and bull runs. Bitcoin RSI and Halving Trends…

Poloniex exit leaves Ethereum stUSDT nearly abandoned

AltcoinsDec 3

Staked USDT (stUSDT), a protocol that supposedly invests in US Treasury securities to pay yields to users who ‘stake’ their tether tokens, has seen its utilization on Ethereum collapse as Justin Sun-owned Poloniex has exited its position, according to onchain data. Staked USDT is a token that has historically been used by entities and wallets closely connected to Sun, representing a majority of all tethers in reserves at HTX, a cryptocurrency exchange he advises. Additionally, on Ethereum, huge portions of this token were controlled by 0x176F3DAb24a159341c0509bB36B833E7fdd0a132, an address that was previously tagged as “Justin Sun 4” on Etherscan but is…

Coinbase Exits Turkey Plans, Adjusts USDC Rewards Amid MiCA Compliance

ExchangesDec 3

Coinbase has withdrawn its pre-application to enter Turkey’s cryptocurrency market, according to a November 29 update from the country’s financial regulator, which listed the company among those requesting liquidation. Separately, Coinbase will discontinue USDC rewards in the European Economic Area (EEA) starting December 1, citing compliance with the MiCA regulation in a November 28 email to customers. QNB Digital Assets, a division of Qatar National Bank in Turkey, also filed for liquidation. Other entities marking closure include Bitget, Finceptor, Koinim, Stanfex, and XYZ Technology. Despite these exits, companies like Bitfinex, Bitbns, Bitlo, OKX, and Rain Software continue to pursue licenses…

Bitcoin price eyes $88,000 by year-end with incoming breakout

BitcoinDec 3

Bitcoin (BTC) has shaken off months of stagnation, sparking a breakout that points to a renewed bullish trajectory, with one analyst eyeing a potential surge to $88,000 by the end of 2024. After reclaiming the $65,000 mark, bullish momentum is rapidly building for an “Uptober” rally, driven by strong technical indicators and patterns that mirror previous price surges. Notably, Bitcoin’s current cycle exhibits fractal patterns similar to those seen in past rallies, particularly the surge from October 2023 to March 2024, as highlighted by TradingShot. “Bitcoin has started to live up to the ‘Uptober’ meme as in recent days it…

Paycoin adds Payment Card Industry (PCI) support for Vietnamese merchants

AltcoinsDec 2

In a groundbreaking move to advance compliance and security in the digital payments industry, a cryptocurrency platform, Paycoin, has added support for the Payment Card Industry (PCI) for Vietnamese merchants. Paycoin (PCI) is LIVE! Here is a video of using PCI for payment in Vietnam! We are steadily expanding our merchants globally. Starting from the US, Thailand, and now Vietnam! We are in the process of obtaining more merchants within the Asian countries. Stay tuned! Watch on Twitter View replies 10:18 am · 24 Oct 2024 That reflects Paycoin’s dedication to ensuring heightened security for cryptocurrency transactions in the Vietnamese…

Users Demand Clarity Over Frozen Funds

ExchangesDec 2

The dispute between Binance and WazirX has intensified, with users demanding accountability from both platforms. Allegations of frozen funds, hacking incidents, and regulatory scrutiny have fueled the controversy. Binance CEO Changpeng Zhao (CZ) expressed his concern on social media, noting his limited ability to act while facing legal challenges in the United States. His tweets sparked a debate about user protection and platform responsibility. Read also: WazirX’s Tarnished Reputation: A $230M Hack and a Botched Response CZ reminded users of his previous advice to transfer funds from WazirX to Binance. He stated that users with funds on WazirX should move…

Bitcoin Failure to Close Above $68K Could Trigger 30% Price Drop to $47K: Analysis

BitcoinDec 2

Bitcoin (BTC) is again at a critical juncture. The top cryptocurrency has broken above its August highs and is now challenging a long-term resistance zone. According to analyst Rekt Capital, Bitcoin’s successful attempt to overcome the August peak positions it to face more substantial resistance located at the top of a downward channel. In an earlier analysis, the analyst noted that this level has historically been a problematic barrier for Bitcoin, as it is where past bullish rallies were rejected. Highlighting the significance of this milestone, Rekt Capital pointed out that the August peak resistance had led to a price…

Jito DAO may start taking in MEV fees

AltcoinsDec 2

This is a segment from the Lightspeed newsletter. To read full editions, subscribe. Solana could be seeing a substantial change in who benefits from the blockchain being built. A proposal from Jito’s DAO would send 3% of all maximal extractible value (MEV) tips collected by the protocol to the DAO treasury and to TipRouter, an in-house program developed for Jito’s forthcoming restaking platform. Jito Labs has also pledged to reduce its own tip share from 5% to 3%, meaning 6% of all Jito MEV tips would be taxed under the new program, up from 5% currently. The proposal estimates the…

Justin Sun-advised HTX has redeemed 7,300 WBTC it did not disclose

ExchangesDec 2

HTX, the Justin Sun-advised crypto exchange, has been rapidly redeeming massive quantities of wrapped bitcoin (WBTC). This started on November 24 with HTX redeeming approximately 5,182 bitcoins and has continued with the additional redemption of 2,166 bitcoins on December 1. Both of these transactions were unusual to observe, given that WBTC has no 24-hour volume on HTX. Additionally, there is no WBTC included in the proof-of-reserves for HTX. Furthermore, neither of the two bitcoin addresses that these redemptions largely ended up in, 1Fgpaz4kXyz35WKMGk2Yo19mR9pk3KC8zx and 1Apv2EuoHyCpKsxdFEPv5GSddqDMt3bTN6, are included in the proof-of-reserves. Read more: Justin Sun’s USDD removes 12,000 BTC without DAO…

Analyst Predicts Strong BTC Returns for the Rest of October

BitcoinDec 2

Pseudonymous crypto analyst Aylo recently shared his thoughts on Bitcoin’s historical performance from mid-October onward, highlighting intriguing patterns for both short-term and medium-term holders. Aylo pointed out that Bitcoin has shown positive returns between October 15 and the end of the month in nine out of the last eleven years, making it an appealing period for short-term investors. According to Aylo, this historical pattern should give speculators additional confidence, especially given Bitcoin’s typically favorable outcomes during this period. Aylo also discussed the potential for medium-term investors holding Bitcoin from October 15 until the year’s end, though the results are more…