Author: NBTC

The cryptocurrency market is under significant downward pressure, causing the Ethereum price to fall below the psychologically important mark of $1,700. Ongoing macroeconomic stress factors, outflows from spot ETFs, and systematic liquidations of long positions have plunged the second-largest cryptocurrency into a deep correction phase. Based on current market data from the 4-hour charts, Ethereum is currently in a heavily oversold area. For traders and investors, the urgent question now is where the price floor can be established. Ethereum Price Analysis: $ETH Coin Breaks Below $1,700 The market structure of Ethereum has continuously deteriorated over the past few weeks. After…

Norway’s largest pension fund manager, KLP Kapitalforvaltning AS, has increased its exposure to Bitcoin indirectly by adding approximately $20.5 million worth of shares in MicroStrategy (MSTR), the software firm known for its substantial corporate Bitcoin holdings. The move, disclosed through data tracked by BitcoinTreasuries, brings KLP’s total stake to 104,680 shares, up from 95,160. KLP’s Growing Indirect Bitcoin Bet KLP, which manages roughly $110 billion in assets, has been gradually increasing its position in MicroStrategy over recent quarters. The latest purchase reflects a broader trend among institutional investors seeking Bitcoin exposure through publicly traded companies that hold the cryptocurrency on…

Flare Network CEO Hugo Philion has criticized Cardano, arguing that the network has underperformed in decentralized finance (DeFi) despite its early start. A recent statement from Hugo Philion has captured the crypto community’s attention after he openly criticized Cardano. His remarks directly respond to bold claims made by Cardano founder Charles Hoskinson about bringing programmability to Bitcoin and institutional assets. Key Points Flare CEO Hugo Philion criticized Cardano for underperforming in DeFi despite its early launch. On-chain data from DeFiLlama shows Flare boasts a TVL of $159 million, surpassing Cardano’s $131 million. Philion dismisses Cardano’s chances of leading Bitcoin-based DeFi…

Former Federal Reserve Chair Jerome Powell used his first public speech since leaving the top job to deliver a warning about political pressure on the US central bank. Speaking while accepting the John F. Kennedy Profile in Courage Award in Boston, Powell said the Federal Reserve is facing a “stress test” and argued that its ability to operate independently is critical to maintaining public trust. The remarks came just weeks after Powell’s term as chair ended on May 15, and Kevin Warsh took over leadership of the central bank. Powell Pushes Back Against Political Interference Powell did not mention President…

Movement, a project originally designed to linkblockchains built using the Move programming language with Ethereum, is pivoting toward cross-border payments, remittances and dollar savings products, reflecting a broader shift across the increasingly crowded layer-2 landscape. The company behind the blockchain said Tuesday that it had secured access to licensed payment systems in the U.S., Canada and European Union, and would focus on building stablecoin-based settlement infrastructure for emerging markets. The direction change comes as a number of layer-2 projects reassess their original scaling-focused roadmaps amid growing competition and declining differentiation among networks. With dozens of Ethereum scaling chains now competing…

Bitcoin ($BTC) is embarking on a recovery, trading above $78,000 on Thursday after support around the key Exponential Moving Averages (EMAs) earlier this week. The leading cryptocurrency is up by nearly 2% in the last 24 hours. Significant outflows from Bitcoin ETFs, including approximately $648 million in net redemptions on May 18, led by BlackRock’s IBIT, affected Bitcoin’s price earlier this week. However, the outflow has declined over the past few days as buyers have absorbed the pressure. The momentum indicators are improving, suggesting that the bulls are regaining control of the market. Spot Bitcoin ETF outflows decline Bitcoin recorded…

Ethereum price remained under heavy selling pressure for a fourth straight day on Friday as liquidations, sustained ETF outflows, and a major technical breakdown pushed $ETH to its lowest level this year. According to data from crypto.news, Ethereum ($ETH) price traded near $1,680 on June 5 after falling almost 5% on the day. The decline followed a sharp move below $1,825, a level traders had watched as one of the last major supports before the $1,600 and $1,500 zones. Ethereum’s selloff accelerated after a crowded long trade unwound across crypto futures markets. CoinGlass data showed more than $1.2 billion in…

This is an excerpt from CoinDesk newsletter ‘Daybook.’ Sign up here, if you haven’t already. While bitcoin remains pinned above $80,000, another interest rate-sensitive corner of the crypto market is booming and may suck capital out of other coins. The total value locked in tokenized Treasuries has surged to $15.35 billion, topping the mid-April peak of around $15.10 billion, according to rwa.xyz data. This comes as markets price in a higher probability of a Federal Reserve interest-rate hike (yes, an increase in borrowing costs), a stark shift from expectations for rapid rate cuts baked in earlier this year. “The June…

Former Ripple CTO David Schwartz has addressed criticism surrounding his past decisions to sell $XRP, arguing that selling is not morally inferior to holding. The recent community discussion revolves around his earlier actions and his more recent skepticism about extreme $XRP price predictions. Having doubted $XRP’s potential to reach $0.25 in its early days, Schwartz now questions the prospect of a $100 or $10,000 price. Key Points Schwartz sold most of his $XRP when it hit $0.10, having never believed it would reach $0.25. He argues that if wealthy investors believed $XRP had a 1% chance of hitting $10,000, buying…

Any whale activity in a risk-off market tends to trigger a strong market reaction. That impact becomes even more significant when a long-dormant wallet suddenly becomes active. Recently, a similar Ethereum move caught attention across the market. According to Lookonchain, a wallet inactive for three years sold 10,000 $ETH, receiving $17.72 million in $USDC at an average price of $1,772. Notably, this $USDC flow is worth watching. According to DeFiLlama data, nearly $3.5 billion has flowed out of the stablecoin market this week alone, contributing to a decline of over 1.07%. Meanwhile, $USDC’s market cap has also softened, with eight…