Author: NBTC

Following a period of consolidation near critical support marks defined by the 0.5 and 0.618 Fibonacci retracement levels, alongside the 100-day MA, Ethereum witnessed a modest bullish rebound. However, it still contends with a notable resistance range, the breach of which holds potential for a renewed bullish momentum. By Shayan The Daily Chart Upon examining the daily chart, it becomes apparent that Ethereum’s extended consolidation phase is near pivotal support levels. These points, marked by the 0.5 ($3139) and 0.618 ($2910) Fibonacci retracement levels, along with the crucial 100-day MA, culminated in a slight bullish recovery. This consolidation also coincided…

Dog-themed cryptocurrency Shiba Inu has triggered a massive spike in large holder netflows, albeit a negative one. According to data from on-chain analytics firm IntoTheBlock, Shiba Inu’s large holder netflow has plunged 1,146.68% in the week, with varied implications for SHIB. Large holders netflow provides an idea of the change in positions of whales or large holders. In short, spikes in netflow can be seen as accumulation from large players, while drops point to reduced positions or selling. While the drop in Shiba Inu’s large-holder netflows might suggest reduced positions or selling, it might be essential to consider the broader…

Japan’s current government, led by Prime Minister Fumio Kishida, has championed Web3 development and regulation. Kishida faces party leadership elections in September as the ruling Liberal Democratic Party (LDP) grapples with record-low support, potentially spelling uncertainty for the future of Web3 policy and progress. Japan’s Prime Minister Fumio Kishida and his ruling Liberal Democratic Party (LDP) have shepherded the country’s Web3 strategy along with a host of regulations and plans for the crypto sector. A major corruption scandal, however, bodes ill for Kishida and the party’s future – leaving the country’s crypto progress on uncertain footing. The LDP has maintained…

Bitcoin and the broader cryptocurrency market faced a downturn on Monday, driven by anticipation of a significant Federal Reserve meeting later this week. As investors speculated about the meeting’s implications, the potential for a longer period of higher interest rates created uncertainty, leading to a sell-off. Bitcoin fell to a one-week low of $61,928 in early trading before recovering slightly to $62,387, down about 2% by press time. Federal Reserve’s Upcoming Interest Rate Announcements The Federal Reserve is scheduled to announce its interest rate decision on May 1, with a 95.6% probability of keeping rates unchanged. However, speculation surrounding the…

Ethereum price has dropped below $3,000, hitting lows of $2,942 on Coinbase. The decline in the price of Ethereum comes as spot ETH ETFs saw a tepid debut in Hong Kong. Liquidations hit $320 across the crypto market, with over $96 million in ETH (over $78 million of it in liquidated longs). Ethereum has declined to below $3,000 again as the broader crypto market reels from downside pressure. As Bitcoin retested prices near $60,000 on Tuesday, ETH price moved lower and broke under the psychological $3k level. On crypto exchange Bitstamp, ETH/USD reached lows of $2,945 while the second largest…

According to on-chain data, a substantial amount of 16 million XRP has been transferred from Upbit, one of South Korea’s largest cryptocurrency exchanges, to an unknown wallet. The movement of a large amount of XRP from Upbit to an unknown wallet has led to speculation within the cryptocurrency community about the possibility of a whale buying XRP. The transfer was detected and reported by Whale Alert, a service that tracks large cryptocurrency transactions: “16,000,000 XRP worth $10,027,185 was transferred from Upbit to unknown wallet.” 🚨 16,000,000 #XRP (10,027,185 USD) transferred from #Upbit to unknown wallethttps://t.co/5aLp1phiEs — Whale Alert (@whale_alert) March…

A Russian “crypto ban’ could roll out as early as September 1, top lawmakers in the country have confirmed. Speaking to the media outlet NSN, the Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov said lawmakers will vote on a “ban on organizing the circulation of cryptocurrencies” in the coming weeks. Russian ‘Crypto Ban’ – What We Know Aksakov stated that the bill will stipulate that “only digital financial assets issued in Russian jurisdictions” will be exempted from the new law. These assets will include several Russian bank-issued blockchain-powered digital coins and the Central Bank’s digital…

Ash Crypto’s recent X post analysis challenges the previous belief that Bitcoin’s peak was $74,000, providing a detailed argument rooted in both on-chain indicators and historical price movements. By examining key metrics like the MVRV Z-Score, NUPL, and Pi Cycle Top, Ash Crypto suggests that the current correction in Bitcoin’s price is within normalcy during a bull market, rather than indicative of a definitive market top. Dispelling Bitcoin’s Top Myths Drawing comparisons to previous market cycles, particularly the significant price drops of 50% and 40% during the peaks of 2017 and 2021 respectively, analyst underscores the relatively modest 16% decline…

Ethereum (ETH) price is noting a sharp decline at the time of writing, but it is actually validating a bullish pattern. Supported by the market conditions, the second biggest cryptocurrency on the planet has a shot at $4,000. Ethereum Investors Remain Bullish Ethereum’s price dipped to $3,000 in the last 24 hours, but this validated a key test of the upper trend line of a descending wedge. The altcoin’s potential for gains is backed by the fact that optimism among ETH holders is still alive. As evident from the Net Unrealized Profit/Loss (NUPL) indicator, the ETH holders still hold substantial…

cc0 NFT mfers NFT collection founder Sartoshi launched a memecoin called mfercoin on the Base network early this morning. The new coin was distributed as an airdrop to mfer NFT owners. Mfercoin’s market capitalization has already exceeded $300 million and transaction volume exceeded $76 million. The base price of the mfer NFT has increased significantly by over 60% in the last 24 hours, reaching over 0.6 ETH. However, the memecoin in question lacks any use case or intrinsic value, and its price rises and falls based entirely on speculation. In addition, since it is released by an anonymous developer, there…