Author: NBTC
The year 2024 marks the dawn of a new era, not just for technology but for finance, as a major victory was achieved for Bitcoin Spot ETFs (Exchang-Traded Funds). It’s now the era where the past will be appreciated for its foresight and doggedness. When the pioneer cryptocurrency and digital currency, Bitcoin launched in January 2009, it was nothing like a real-world asset or of an ‘agreed’ digital value, but an almost neglected bag of gold as it faced enough rejection from all phases. Even with Satoshi’s Whitepaper, Bitcoin wasn’t given a cordial welcome in the world of finance. However,…
The story has not been much different for the price of Bitcoin this week, as the premier cryptocurrency has struggled to capitalize on its recent advancements. According to data from CoinGecko, BTC is down by more than 3% in the past week, putting doubts over the continuation of the bull run. However, the latest on-chain revelation has offered some relief, suggesting that the value of Bitcoin might be up for substantial recovery over the next few weeks. Can Whale Accumulation Trigger Continuation Of Bull Cycle? Popular crypto analyst Ali Martinez revealed – via a post on the X platform –…
Data from the trading analytics platform BitMEX Research reveals that Fidelity’s Bitcoin spot ETF – FBTC – has now witnessed a total inflow of over $1 billion. This development comes as BTC attempts to rebound from its recent dip over the last two weeks with a 1.56% gain in the past day, based on data from CoinMarketCap. Fidelity Joins BlackRock On Exclusive $1-B List, As Grayscale’s ETF Continues To Bleed Following the official launch of Bitcoin spot ETF trading on January 11, Fidelity has now become the second asset manager, with its BTC spot ETF recording an accumulative inflow of…
In an encouraging development for the crypto space, Tether, the issuer of the world’s largest stablecoin USDT, has doubled down on its Bitcoin investment momentum by acquiring a staggering 8,888 BTC, further diversifying its portfolio. Tether Increases Its Bitcoin Holdings Tether has recently made its third largest Bitcoin purchase, as the stablecoin issuer added a total of 8,888 BTC valued at $380 million at the time of purchase. This brings its total BTC holdings to 66,465 BTC, valued at $2.81 billion with an average buy price of $42,353. This transaction was captured by BitInfoCharts data, which also showed the previous…
Rekt Capital, a well-known cryptocurrency analyst and enthusiast, has revealed the potential directions that the price of Bitcoin could take in light of the upcoming fourth BTC Halving. Potential Retracement For Bitcoin With the halving event approaching, analysts are debating what steps Bitcoin should take after its recent breach from the macro downtrend. One of those is Rekt Capital, who has weighed in on the particular issue and made a comparison to past trends. The crypto analyst shared his latest projections during one of his YouTube predictions videos for Bitcoin. In the video, Rekt Capital delves in on the “next…
The economic metaverse is on a steep development trajectory, with gross sales hitting US$ 61.8 billion in 2022 and forecasted to soar at a compound annual development fee (CAGR) of 25.3% from 2023 to 2033. Integrating this expertise into industries resembling automotive manufacturing is powering a brand new wave of innovation, with analysts predicting the Industrial Metaverse Market will develop from US$ 80.1 billion in 2023 to a staggering US$ 765.8 billion by 2033. Reworking Industrial Processes The economic metaverse can speed up how companies design, simulate, and check merchandise. By using digital prototyping, automotive producers can now iterate designs…
Bitcoin dropped below $41,000 in the last 24 hours before making a recovery to rise above that level once again. This has become the current reality of the flagship crypto token’s price, which has continued to decline since the Spot Bitcoin ETFs were approved. This is surprising considering that these funds were projected to help boost Bitcoin’s price upon launch. Why Bitcoin’s Price Could Be Dipping Bloomberg analyst James Seyffart provided insight into what could be the reason for Bitcoin’s declining price as he revealed that Grayscale’s GBTC has experienced an outflow of $2.2 billion since its conversion to a…
NEAR Foundation has announced the merging of NEAR DA and Polygon CDK. The technical integration aims to pass on the benefits of cost-effective data availability to rollups, particularly at a time when data publishing costs are at their highest. NEAR DA has been chosen for its efficiency and robust availability of data. Data availability has been specifically crafted to help developers simplify the network structure and reduce overall cost. Polygon CDK, on the other hand, has been chosen for the level of simplicity that it provides to developers who are looking to architect L2 chains with a set of configurations…
Bitcoin has recently dropped to its one-month low after the ETF-led enthusiasm has waned. The biggest crypto in the world fluctuated around 40,000 dollars before stopping at 40,843 dollars. BTC gained 157% value in 2023, largely because of the anticipated January 11 launch of the first Bitcoin ETF fund in the US. Traders have also bet on the looser monetary policy in the past several months. However, it appears that the ETF enthusiasm driving BTC has ultimately subsided. The cryptocurrency is trading at 41,358 dollars, down 10.42% in the past seven days. Given its volatile nature, traders closely examine numerous…
The Bitcoin price experienced a further sell-off yesterday and fell by more than 5% intraday to as low as $40,660. Since the year-to-date high of $49,000 on January 11, the BTC price has dropped by as much as 17%. However, according to renowned crypto analyst Jacob Canfield, this may not be the end of the correction. In a recent analysis, Canfield warned that more downside could be on the cards in the short-term. The analyst, known for accurately predicting the local top of Bitcoin, addressed the prevailing uncertainty in the market. “The question that everyone is asking now is ‘where…