Author: NBTC

NBTC

NBTC is the editorial account for NBTC News, covering Bitcoin, Ethereum, DeFi, blockchain infrastructure, exchanges, mining, regulation and digital asset markets. The editorial team focuses on clear sourcing, timely updates and practical context for crypto readers.

Ethereum ETFs May Not Receive As Much Interest as Bitcoin, According to Analysts! Here's Why!

EthereumJun 8

The launch of US exchange-traded funds (ETFs) for Ethereum (ETH), the second-largest cryptocurrency, could face significantly less demand compared to spot Bitcoin products, casting a shadow on Ethereum's outlook, according to analysts. Doubts Over US Ethereum ETF Demand Pose Challenge for Second-Largest Cryptocurrency BlackRock Inc. and Fidelity Investments are among the issuers seeking to list Ethereum ETFs pending final approvals from the Securities and Exchange Commission (SEC). But JPMorgan Chase & Co. strategists predict that net inflows into Ethereum ETFs will be much smaller than the $15.3 billion flowing into Bitcoin ETFs this year. Five-month-old Bitcoin ETFs have capitalized on…

Bitcoin Broke Record After Record, Risk Appetite Increased: New ATH Expectations Increased!

BitcoinJun 8

While all eyes on the Bitcoin and cryptocurrency markets are on the Non-Farm Employment data coming from the USA today, ETF inflows in Bitcoin are breaking new records. In addition to the ETF records, another record came for Bitcoin. Accordingly, Bitcoin open positions peaked at $37 billion and a new record was broken in BTC futures positions. Back-to-back records for Bitcoin indicate positive market sentiment and expectations that BTC will reach all-time highs in the coming weeks. According to Coinglass data, more than $ 5 billion open position has been added in Bitcoin since Monday, while the BTC price increased…

Ethereum’s Prospects for Hitting New All-Time High a ‘Certainty,’ Says Crypto Trader – But There’s a Catch

EthereumJun 8

A widely followed crypto analyst believes Ethereum (ETH) is heading to new all-time highs (ATHs). Pseudonymous crypto trader Altcoin Sherpa tells his 216,900 followers on the social media platform X that ETH will likely have a massive breakout against Bitcoin (ETH/BTC). However, the trader warns that the 200-week exponential moving average (EMA) continues to act as resistance for the ETH/BTC pair and there may be more downside before a breakout. “ETH: ETH/BTC has underperformed for a while now, interesting to see that the 200-week exponential moving average is still bearish (last time it was bearish like this was March 2021).…

Monica Long says ‘SEC is not a friendly entryway for us in the US’

LegalJun 8

Monica Long, President of Ripple, joined Arjun Kharpal, Senior Correspondent for CNBC, at Money 20/20 to discuss the infrastructure needed for crypto implementation. Their conversation centered around the theme of “Building Infrastructure Fundamentals,” which focused on traditional financial institutions’ perception and adoption of digital assets. Long noted a significant shift in U.S. legislation and traditional finance institutions, citing the Bitcoin ETF approval in the U.S. as a crucial moment for crypto adoption. “BlackRock’s involvement was a big moment,” Long said. Many financial institutions have been slowly adopting crypto tech, acknowledging it as a contemporary financial framework, Long said. Clearer regulations…

Buying Pressure, Open Interest, Funding Rates

BitcoinJun 8

The current situation for Bitcoin (BTC) reveals a pronounced demand shock, with prices steady at around $71,000. Demand from institutional investors, especially through spot Bitcoin Exchange-Traded Funds (ETFs), fuels this increase. Spot Bitcoin ETFs have experienced unprecedented net inflows. For the past 18 days, they have recorded continuous positive inflows, the longest streak since their inception. Is Bitcoin Awaiting Explosive Price Growth? Among Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) is particularly noteworthy. It accumulated $350 million on Thursday, the highest in the last two trading months. In total, IBIT has acquired nearly $780 million worth of Bitcoin over the…

A Giant Leap Forward for Institutional Crypto Investments

DeFiJun 8

In a significant development for decentralized finance (DeFi), Fireblocks has announced its integration with dYdX, enhancing access to one of the leading DeFi protocols that specializes in derivatives trading. This integration marks a notable advancement in the availability of institutional-grade tools for participating in the DeFi ecosystem, particularly in the trading of derivatives like perpetual futures. dYdX, known for its non-custodial trading platform, offers a dynamic environment for trading major cryptocurrencies without requiring actual possession of the assets. The collaboration between Fireblocks and dYdX is poised to streamline institutional and sophisticated investors’ entry into DeFi derivatives trading. By leveraging Fireblocks’…

Will the Bulls Stage a Comeback?

EthereumJun 8

Ethereum price started a downside correction from the $3,885 resistance zone. ETH is now back below $3,800 and might continue to slide toward $3,720. Ethereum started a pullback after it failed to clear the $3,880 resistance. The price is trading below $3,840 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support near $3,830 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh upward move unless there is a close below the $3,720 support. Ethereum Price Dips Again Ethereum price extended its increase above the…

Shiba Inu Burn Rate Skyrockets by 172% as SHIB Price Rebounds

AltcoinsJun 8

Dog-themed cryptocurrency Shiba Inu (SHIB) has seen its burn rate skyrocket by an astounding 172%, coinciding with a robust rebound in its market price. The increase in the SHIB burn rate has resulted in a significant number of tokens being sent to a "dead" wallet, where they can no longer be accessed or traded. According to the Shibburn X handle, a total of 5,221,667 SHIB tokens were burned in six transactions, representing a 172.16% increase in the burn rate. In the past 24 hours, there have been a total of 5,221,667 $SHIB tokens burned and 6 transactions. Visit https://t.co/t0eRMnyZel to…

Global rules needed to spur blockchain trading of assets, report says

LegalJun 8

June 6 (Reuters) - Trading stocks and bonds on blockchains at scale will remain a dream unless a global standard for cross-border activity is established that allows assets to move seamlessly across blockchains, according to a report published on Thursday. So-called tokenised assets - which represent the underlying assets - are exchanged on distributed ledger technology (DLT) that are also used for cryptocurrencies. Banks hope tokenised asset trading takes off as a way to make trading faster, cheaper and more transparent. However, a lack of cohesive global regulation is keeping assets from moving smoothly across different blockchains. Industry executives at…

US Non-Farm Employment Data Announced! What Was the First Reaction of Bitcoin (BTC) and the Dollar?

BitcoinJun 8

Leading cryptocurrency Bitcoin is struggling to maintain its position above $70,000 as it continues to consolidate. While some analysts expect a rise in Bitcoin over the weekend and in June, all eyes on BTC and altcoins today are turned to the economic data coming from the USA. The data announced on the first Friday of each month is closely followed by investors and stakeholders to understand the state of the economy. The data disclosed is as follows: Non-agricultural employment Data: Announced 229k – Expected 182k – Previous 175k Unemployment data: Announced 4% – Expected 3.9% – Previous 3.9% Bitcoin's reaction…