Author: NBTC

With the official start of summer, analysts say Bitcoin, the world’s largest cryptocurrency, may experience a stagnant period in June. Bitcoin rose 13% in May, its eighth monthly gain in nine months and its best month since February, when it rose 44%, according to Coin Metrics. This increase can be attributed to last week’s ETH-led rally, which occurred before the SEC approved a rule change allowing Ethereum ETFs in the US. This led to a 20% increase in ETH in two days. Aspiring holders of ETH ETFs are now required to fill out S-1 registration forms for individual funds. With…

Ethereum price failed to clear the $3,650 resistance. ETH declined again after the Fed decision and now shows bearish signs below the $3,550 level. Ethereum started a fresh decline below the $3,580 support zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $3,610 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it stays below the $3,600 resistance zone. Ethereum Price Dips Again Ethereum price attempted a recovery wave above the $3,550 and $3,580 resistance levels. However, ETH…

The discussion about which altcoin might next secure exchange-traded funds (ETFs) approval has intensified. Among the candidates, Solana (SOL) stands out, given its significant market presence and strong following. Solana, the fifth largest cryptocurrency with a market cap exceeding $66 billion, is often referred to as an “Ethereum killer.” This reputation, along with its popularity, makes it a prime candidate for ETF approval. However, achieving this approval involves overcoming significant obstacles. Hurdles for Solana’s ETF Approval A primary challenge for Solana is the absence of a regulated futures contract market. Unlike Bitcoin and Ethereum, which have futures products listed on…

Prominent Bitcoin advocate and the co-founder of the MicroStrategy business intelligence giant Michael Saylor has published a tweet about Bitcoin as if to show confidence in the largest cryptocurrency by market capitalization value as it has suddenly lost the $68,000 price level overnight. Saylor’s tweet contains an AI-generated image with an image of a physical Bitcoin and bees, stating: “Bitcoin is a Swarm of Cyber Hornets.” #Bitcoin is a Swarm of Cyber Hornets. pic.twitter.com/hbUEt1G9EN — Michael Saylor⚡️ (@saylor) June 1, 2024 Certain macroeconomic factors have influenced this sudden Bitcoin price decline. The personal consumption expenditures (PCE) price index faced a…

Ethereum (ETH) bulls got a taste of fire on June 11th as the altcoin’s derivatives market witnessed a dramatic surge in long liquidations. According to data from Coinglass, this event marked the highest level of long liquidations since May 23rd, signifying a significant correction for traders who bet on rising prices. Crimson Chart: Long Positions Liquidated Overconfident investors piled into long positions, essentially placing a wager that Ethereum’s price would climb. However, the market had other plans. An unexpected price drop sent shivers down the spines of these bulls, triggering a wave of liquidations. As the price dipped below a…

The U.S. Securities and Exchange Commission (SEC)’s approval of a rule change allowing Ethereum ETFs could mark a historic shift in cryptocurrency investing, according to VanEck CEO Jan van Eck. Van Eck, who follows developments in the cryptocurrency market closely, called the SEC’s move “one of the most surprising things he has seen regarding securities regulation in his career.” VanEck became the first company to apply to the SEC for permission to list its proposed Ethereum ETF. With initial approval in place, the company can now begin the process of bringing the product to market, although the exact timeline remains…

Speaking before the Senate Appropriations Committee, SEC Chairman Gary Gensler said he anticipates S-1s for spot Ethereum ETFs will be approved by the end of the summer. Fox correspondent Eleanor Terrett shared details of the Ethereum ETF conversation between SEC Chairman Gary Gensler and US Senator Bill Hagerty. Gensler said “throughout this summer,” while Hagerty said “by the end of the summer.” “I would dream sometime during this summer…” Gensler said in response. “If you’re telling me these applications will be approved by the end of the summer, I appreciate that,” Hagerty said. said” Clarifying on details here: Gensler said…

The Shiba Inu ecosystem team shares a new update about the play-to-earn (P2E) version of its upcoming Collectible Card Game (CCG), Shiba Eternity. In an X post yesterday, Shiba Inu’s marketing lead, Lucie, disclosed that the highly anticipated blockchain version of Shiba Eternity is nearing its launch. She emphasized that the game already has a mobile version that allows players to earn ‘Kibbles.’ What We Know About Shiba Eternity So Far Shiba Eternity is getting very, very close! You can already play and train on the mobile version, where you can earn Kibbles. The blockchain version will be different, though.…

Bitcoin, the pioneer of blockchain technology, has faced challenges as its adoption has grown. With its original design allowing only seven transactions per second, the network often struggles with scalability, leading to high fees and slower transaction times. To address these issues, Bitcoin layer two (L2) solutions have emerged. These projects aim to enhance the Bitcoin blockchain by developing an execution layer that processes transactions off the main chain, thereby increasing throughput and maintaining security. These L2s also enable new functionality, like smart contracts. What Are Bitcoin Layer Twos? Bitcoin layer twos (L2s) are secondary protocols or networks built on…

Readers will find today’s analysis of Ethereum (ETH) interesting. On June 11, about 542,000 ETH moved out of exchanges— the largest outflow of the year. However, the trend did not take long to change, prompting speculation that the potential increase to $4,000 may be delayed. Ethereum Opens the Floor for Bears According to data from CryptoQuant, the number of ETH withdrawn from exchanges has decreased. For instance, the figure recorded on June 12 fell by almost half from what it was the day before. As of this writing, BeInCrypto observes that 70,839 ETH has flown out of top exchanges. In…