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.

Bitcoin (BTC) aims for a new ATH after today's breakout

BitcoinJun 6

Today, Bitcoin seems particularly fit on the graphic front: BTC marks a +4.40% and approaches to set a new ATH in view of the implementation of the halving for the cryptographic protocol. The bullish breakout of the symmetrical triangle could push the cryptocurrency prices around $80,000. Meanwhile, derivative market data gives hope that Bitcoin could explode in a short time: the open interest on BTC has returned above 20 billion dollars. Let’s see all the details below. Bitcoin (BTC) breaks out to the upside the symmetrical triangle on the daily time frame and aims for a new ATH Euphoria returns…

Stacks Nakamoto upgrade unfolds a new era for the Bitcoin L2

AltcoinsJun 6

Bitcoin layer-2 solution Stacks initiated the rollout of its Nakamoto upgrade shortly after the halving last Friday. This significant development is designed to enhance transaction throughput and unlock Bitcoin finality for layer-2 transactions. The Nakamoto upgrade aims to enable faster block processing and ensure all settlements are finalized on the layer-1. This will allow Bitcoin to remain secure while being programmable, similar to Ethereum and Solana Virtual Machines. Muneeb Ali, the co-founder of Stacks, told Blockworks that the Nakamoto upgrade and the general growth of Bitcoin layer-2 infrastructure may revive interest in the Bitcoin blockchain itself. Read more: Bitcoin’s block…

What They Mean and How Binance Is Complying

LegalJun 6

Main Takeaways New stablecoin rules imposed by the EU's Markets in Crypto-Assets (MiCA) framework are coming into effect from June 30, 2024, impacting the stablecoin and wider digital-asset market throughout the European Economic Area (EEA). This blog describes Binance's approach to complying with the new rules. Binance will restrict the availability of Unauthorized Stablecoins for EEA users, implementing phased changes and product restrictions to ensure compliance and minimize market disruption. Binance's approach aims to fulfill MiCA objectives smoothly by transitioning users from Unauthorized Stablecoins to Regulated Stablecoins over time, as more Regulated Stablecoins become available in the market. On June…

Ryan Salame is whitewashing his role at FTX and Alameda

ExchangesJun 6

Despite Ryan Salame pleading guilty to conspiracy to make unlawful political contributions and conspiracy to operate an unlicensed money transmitter, you wouldn’t be able to tell from his presence on X (formerly Twitter). The former co-CEO of FTX Digital Markets is begging to be interviewed, providing political commentary, stating he’s ready to release a memoir, and denying much of his role at FTX and Alameda (despite his guilty plea). Salame insists that there’s much more to the FTX and Alameda sagas, but hasn’t clarified what new information he has to provide and no one has publicly stated that they’ll be…

Crypto expert Ali Martinez forecasts $85,000 Bitcoin target incoming

BitcoinJun 6

As the cryptocurrency sector opens the week on a more bullish note, its representative asset Bitcoin (BTC) has surpassed a critical resistance level and is looking at an imminent breakout that could culminate with an $85,000 price peak, according to a renowned crypto expert. Specifically, professional crypto trader Ali Martinez has recently observed that Bitcoin appeared to be breaking out of its symmetrical triangle chart pattern and that holding above $70,8000 would make $85,000 its next target, as he explained in an X post on April 8. Bitcoin price prediction Indeed, as Martinez’s analysis demonstrates, the flagship decentralized finance (DeFi)…

Crypto Whale Returns, Buys $26.7M Worth of ETH Amidst Market Surge

EthereumJun 6

A whale, a large holder of cryptocurrency, is back in the market to buy more ETH tokens after a large investment. A little earlier today, this whale sent 7,000 ETH, which at the time was equivalent to approximately 26. 7 million USD, back to Binance. This comes even as Ethereum is trading at $3,814. Giant whale with a 76.6M profit from $ETH just returned to accumulate more tokens! An hour ago, the whale withdrew 7K $ETH ($26.7M) from #Binance at $3,814. Notably, the whale withdrew most $ETH during last year's bear market and then deposited $ETH to CEX whenever the…

What’s behind Celo’s pivot to Ethereum?

AltcoinsJun 6

After nine months of deliberation, the developers behind Celo have chosen OP Stack as the infrastructure for the project’s migration to Ethereum. In a Monday forum post, cLabs, which is the software company behind Celo, said it would be putting the OP Stack migration up for a community vote. If successful, the layer-2 would be set to go to testnet in summer 2024. CLabs first said it would migrate to a layer-2 in July 2023. Celo and Optimism’s native tokens were both up roughly 5% amid a mostly flat day in crypto markets, according to CoinGecko. Celo’s layer-1 went to…

Former Binance CEO CZ Begins 4-Month Prison Sentence in California

LegalJun 6

Binance founder Changpeng “CZ” Zhao has reported to a federal prison in California where he will spend the next four months for failing to implement an adequate know-your-customer (KYC) program at the world's largest cryptocurrency exchange. Zhao, a Canadian national, pleaded guilty to violating the Bank Secrecy Act (BSA) in November. In April, a federal judge sentenced CZ to four months in prison – a much shorter sentence than the three years federal prosecutors requested, but more than other crypto executives like former BitMex CEO Arthur Hayes received for the same crime. At a net worth of $36.5 billion, according…

Bitcoin Price Eclipses $72,000: 5 Major Factors

BitcoinJun 6

In the early US hours of Monday, Bitcoin witnessed a significant surge, with its price climbing above the $72,000 mark. The ascent, marked by a more than 4.5% increase within a mere five-hour window from below $69,500 to an intra-day high of $72,579, can be attributed to a confluence of factors that have stirred the crypto market. #1 Strong Bitcoin Spot Demand The rally appears to be fueled by robust demand in the Bitcoin spot market, hinting at the potential sustainability of the move. Crypto analyst Daan Crypto Trades (@DaanCrypto) noted the healthy market dynamics, stating on X, “Funding rates…

How Much Will Ethereum Spot ETFs Increase ETH Price? Analyst Presents Three Scenarios and Three Prices

EthereumJun 6

Florent Koenig, macro analyst at SwissBorg, recently shared his views on the potential impact of Ethereum Spot ETFs on the ETH price. In his analysis, he provides a detailed scenario of what we can expect when ETH Spot ETFs begin trading. Predicting potential inflows into Ethereum ETFs is complicated. Koenig decided to rely on estimates from various experts to obtain a range of expected values. Here's what he found: Goldman Sachs expects the new spot ETH ETFs to attract modest net inflows of $1 billion to $3 billion over the remainder of the year. Bloomberg Senior ETF Analyst Eric Balchunas…