Author: NBTC

Price fluctuations are prevalent in the world of Bitcoin. Indeed, one of the most common patterns in cryptos is seeing prices fall and then bounce back up. Liquidity cleansing is a phenomenon that exists not only in Bitcoin but in most financial markets as well. It usually begins when Bitcoin’s large holders, also known as whales, begin transferring most of their Bitcoin to exchanges. This transfer of money is actually called selling pressure. Detecting Selling Pressure in #Bitcoin with CDD Data and Its Impact on Prices“Without breaking this pressure, new uptrends won’t emerge. The last high CDD data in the…

Ethereum emerged as the best-performing cryptocurrency over the past week as its price rose by more than 6% to over $3,300. Notably, blockchain analytical firm Santiment reported that the price increase coincided with a significant drop in transaction fees, which hit its lowest point in six months. Ethereum Gas Fees Hit Six-Month Low Ethereum’s average transaction fee is approximately $1.12, marking its lowest daily average cost since October 18, 2023. The introduction of the Dencun upgrade and the lull in the broader crypto market has resulted in less on-chain activity, driving Ethereum gas fees down. This decline follows a peak…

Notable figures in the XRP community have engaged in intense debate about the role of Ripple’s On-Demand Liquidity (now Ripple Payments) in propelling XRP’s market value. Ripple ODL Cannot Help XRP Price Grow Renowned crypto author Panos Mekras has asserted that Ripple’s XRP-based solution for cross-border payment solutions, no matter how successful, will not inherently impact the price of XRP. Mekras argues that Ripple’s ODL is engineered to be demand-neutral. He highlighted that ODL transactions primarily involve instant buying and selling of XRP, with no inherent demand for XRP originating from ODL itself. When I said that a while ago,…

As Bitcoin’s value overtakes major currencies by 99.5%, is this the start of a new era where digital currencies challenge traditional financial systems? The global economy has faced severe challenges in recent years, including rampant inflation and slowing growth rates since the post-pandemic era. In the U.S., recent reports indicate a slower-than-expected GDP growth of 1.6% in Q1, missing forecasts of 2.5% growth and falling well below the 3.4% recorded in Q4. Simultaneously, the core PCE (personal consumption expenditures) price index—an essential gauge of inflation for the Federal Reserve—has risen by 3.7% annually in Q1, overshooting expectations set at 3.4%.…

Justin Sun, the popular entrepreneur who founded the Tron blockchain, has recently voiced his opinion on the Ethereum ETFs. As per Sun, the current scenario around the authorization of the Ethereum exchange-traded funds is not very optimistic and the authorities won’t approve them in May. The famous entrepreneur took to its official X account, saying that the crypto market still requires significant preparation. My honest opinion (NFA) is that an Ethereum ETF won’t be approved in May. The crypto industry still needs to prepare for a long-term education with regulators, focusing on helping them understand crypto. But we’ve always been…

The Grayscale Solana Trust (GSOL) has seen its value surge to unprecedented levels, signaling bullish sentiment toward Solana (SOL) among institutional investors. The enthusiasm for Solana investment products reached a new peak as Nic Puckrin, CEO and cofounder of The Coin Bureau, highlighted the astonishing premium that GSOL shares are trading at compared to the actual spot price of SOL. According to a recent tweet by Puckrin, GSOL is trading at a remarkable $433, whereas Grayscale’s February fact sheet reveals that each share of the trust holds approximately 0.377 SOL. This indicates a premium of 5.8 times over the spot…

Bitcoin and the broader cryptocurrency market fell on Monday, as investors and speculators braced themselves for a major Federal Reserve meeting later this week. Anticipation grew around the meeting’s potential indication of higher-for-longer interest rates, prompting market participants to gird themselves for potential effects on digital assets. Bitcoin sank to a one-week low of $61,928 in early trading on Monday before recovering slightly to trade down about 2% at $62,387 at press time. The demand for approximately a dozen U.S. spot Bitcoin ETFs remains moderate. Bitcoin’s 2024 gain has slowed to over 47% from more than 70% in mid-March, when…

Ethereum price rallied above the $3,300 level. ETH tested the $3,350 resistance and recently started a sharp decline below $3,300. Ethereum rallied toward $3,350 before the bears appeared again. The price is trading below $3,220 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $3,250 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it trades below the $3,165 support. Ethereum Price Trims Gains Ethereum price started a strong increase above the $3,200 level. ETH outperformed Bitcoin and even cleared the…

Following Dogwifhat’s meteoric rise to the top of the crypto market, Anatoly YAKOVENKO, one of the founders of Solana, took to social media to discuss the growing trend, sharing his views on the controversial tokens. Yakovenko’s remarks come amid Dogwifhat’s impressive rise to 29th place among memcoins by market capitalization, with a market value of $4.7 billion. The cryptocurrency’s rise has rocked the crypto sphere as it has overtaken established rivals such as Arbitrum (ARB) and Pepe Coin (PEPE). In his recent social media post, Yakovenko condemned the nihilistic logic that suggests meme coins can absolve their “bad” nature through…

As the majority of assets in the cryptocurrency sector open the new week trading in the red, Bitcoin (BTC) is leading the trend, with flagship decentralized finance (DeFi) asset back in the $62,000 zone weeks after hitting a new all-time high (ATH) at $73,738, leaving investors to wonder about its near-term future. Specifically, Bitcoin is down 15.26% from its ATH, which it reached on March 14 this year, and the upcoming month of May, which is traditionally a challenging month for the crypto sector, could spell more trouble for its largest asset by market capitalization. BTC price prediction Indeed, crypto…