Author: NBTC
Ethereum (ETH) is nearing the $2,000 psychological support level, raising concerns about a potential breakdown as ETFs continue to register outflows. As Bitcoin witnesses a quick pullback under $83,000, Ethereum is close to testing its $2,000 psychological mark. With a pullback of nearly 12% in the past 24 hours, the Ethereum market cap is down to $252 billion. As the declining trend in Ethereum gains momentum, is the $2,000 support level breakdown inevitable? Let’s find out. Ethereum Price Tests $2,000 Support In the 4-hour price chart, Ethereum showcases a steep correction with two consecutive completion-range breakdowns. After the breakdown of…
Tether, the world’s largest stablecoin, has announced that Simon McWilliams will succeed Giancarlo Devasini as chief financial officer as the firm once again commits to a “full audit.” Devasini will continue as its chairman. Tether’s promise of an audit of its reserves dates back to the company’s launch, and the fact that it’s remained unaudited has been a common rallying cry for its detractors. Click to enlarge. Tether apparently believes an audit is ‘crucial’ On March 9, 2015, Tether announced that it had partnered with Factom “to innovate our transparency and audit strategy.” Despite this announcement, the partnership didn’t result…
For the token to reach its one-dollar value and $500 billion market cap, the Shiba Inu community would have to burn 99% of the SHIB supply. Despite Shiba Inu’s persistent troubles on the back of the ongoing market drawdown, market participants have maintained confidence around its potential recovery. Amid this optimism, analysts such as Javon Marks have projected rebound targets to levels like $0.0001553 for the mid-term. Interestingly, proponents have continued to eye longer-term targets at the $0.001 and even $0.01 regions. Despite the pessimism surrounding these projections, discussions around Shiba Inu claiming a massively ambitious $1 price have also…
Bitcoin (BTC) is once again at a turning point. The latest chart shared by “Mags” on X platform takes a look at the digital asset’s long-term cycle and its possible next phase. The chart zeroes in on Bitcoin’s cyclical nature, especially its price moves around halving events. According to a Mag’s post, Bitcoin usually follows a fairly predictable pattern. It kicks off with the halving event, then a strong rally, hitting a peak before a bear market takes over. Finally, once the cryptocurrency hits rock bottom in the bear market, it turns bullish again with the next halving event. Halving…
As US President Donald Trump becomes one of the most influential factors in the cryptocurrency market, his statements and moves can cause the market to rise or fall. The closest example to this is the rise experienced on Sunday and the fall that followed immediately thereafter. While Bitcoin (BTC) and altcoins witnessed a massive surge on Sunday when Trump announced the US Strategic Crypto Reserve, the market crashed after the new tariff plan for Mexico and Canada came into effect. Billions of dollars were liquidated during the pump dump of the last few days, while some investors made huge profits.…
US President Donald Trump’s proposal to create a cryptocurrency strategic reserve has sparked a huge backlash, with financial expert and investor Anthony Pompliano describing the idea as “crazy.” Speaking at Varney & Co, the founder and CEO of Professional Capital Management expressed skepticism about the inclusion of multiple cryptocurrencies in the proposed reserve. The plan, which reportedly involves holding five or six different digital assets, has drawn comparisons to a hedge fund. Pompliano questioned how the government would determine the allocation of assets within the reserve, particularly how it would balance assets like Bitcoin and Solana: “How do you decide…
Changpeng CZ Zhao just bought 1 BNB worth of $TST (approximately 5,400), and now he’s figuring out how to add it to a liquidity pool (LP). The former Binance CEO admitted via a post on X that the process wasn’t as easy as expected, even for someone who built the world’s largest crypto exchange. “DEX is so much harder to use. 27 minutes to do a test buy… Still haven’t figured out how to add to the liquidity pool. And you have to do this while they are all watching on the blockchain,” CZ wrote. On-chain details of CZ’s TST…
The leading coin, Bitcoin, has been trading within a narrow range since the beginning of February. It has struggled to break out of consolidation as both buying and selling pressures remain subdued. On-chain data suggests that this period of sideways movement could persist due to weakening activity on the Bitcoin network. Bitcoin Could Face Prolonged Sideways Movement as Network Activity Drops According to a recent report by pseudonymous CryptoQuant analyst Avocado_onchain, Bitcoin network activity has been steadily declining, contributing to BTC’s recent narrow price movements. If this continues, “we must consider the possibility of another prolonged consolidation phase, similar to…
An ether (ETH) position worth more than $126 million came within 4% of being liquidated amid a crypto market plunge on Tuesday. ETH has now retraced more than the entirety of Sunday’s rally, shedding 22% of its value in the past 48 hours as it trades at $2,080. A fortuitous bounce at $2,000 protected Ethereum’s decentralized finance (DeFi) ecosystem from a series of liquidations on collateralized debt platform MakerDAO. The first level sat at $1,929 with another two positions set to be liquidated at $1,844 and $1,796. The combined value of all three positions is $349 million. Price action is…
This is a segment from the Empire newsletter. To read full editions, subscribe. It’s hard to deny that crypto is having a moment, especially when the President of the United States posts about crypto on a Sunday morning. While that’s currently the bullish force pushing us forward to start the week — after a less than stellar time last week — it’s hard to say whether the positive momentum is enough to last. Here’s the good thing though: We don’t necessarily need to just rely on posts from world leaders to legitimize the space, we’re seeing that happen in a…