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Author: 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.

After Higher Than Expected Inflation Data, US President Joe Biden Talks About The Time For A Rate Cut

In light of the higher-than-expected inflation figures in the USA, FED official Barkin and US President Joe Biden made separate statements on the subject. Barkin expressed that he was optimistic about the progress made on inflation and said, “I think we have made a lot of progress on inflation.” Addressing the issue of artificial intelligence, Barkin predicted, “Artificial intelligence will develop rapidly and replace some jobs.” Despite concerns in some quarters, Barkin dismissed the idea that commercial real estate (CRE) poses a systemic risk. “I don't see any suggestion that CRE is a systemic risk,” he said. In his latest…

Markets

Analyst Predicts Parabolic Rally for Bitcoin, Says Time for Altcoins To Make Way for King BTC

A closely followed crypto strategist thinks that it’s about time for Bitcoin (BTC) to steal liquidity from altcoins. Pseudonymous analyst Credible tells his 382,300 followers on the social media platform X that a parabolic rally to a six-figure price tag is in sight for Bitcoin. “It’s time for alts to make way for king BTC again. Who’s ready to get this parabolic show on the road?” Credible uses the Elliott Wave theory, which states that a bullish asset tends to complete five-wave rallies before a period of consolidation. Looking at the trader’s chart, he seems to predict that BTC will…

Bitcoin

Brevan Howard’s crypto fund up 35% in Q1, outpaces hedge fund

Brevan Howard’s BH Digital crypto fund emerges as a standout performer so far in the hedge firm’s ecosystem, boasting gains of nearly 35% in Q1. BH Digital, a Brevan Howard crypto fund that manages $1.7 billion, returned 34.5% in Q1, outpacing the hedge firm’s flagship Master Fund, according to a Bloomberg report, which cites people familiar with the matter as a source. With the latest performance data, BH Digital gained over 50% since the fund started trading in March 2022, the people added. As per the report, Master Fund — manages around $12 billion and invests in equities, fixed income,…

Markets

Bitcoin No Longer Trading at a Premium on Coinbase, Data Show

The so-called Coinbase premium has evaporated, indicating a weaker stateside buying pressure. At press time, bitcoin was trading at $64,000, down over 12% from record highs reached last week. A market dynamic that characterized bitcoin’s (BTC) recent rally to record highs has changed, signaling a weaker stateside demand for the leading cryptocurrency. The seven-day moving average of the so-called Coinbase Premium indicator, which tracks the spread between bitcoin’s prices on the Nasdaq-listed Coinbase (COIN) exchange and the offshore giant Binance, has flipped negative, according to data tracked by CryptoQuant. In other words, bitcoin is now trading at a discount on…

Bitcoin

Stablecoins Are Beneficial to U.S. Economy, Tether's Custodian Says

Stablecoins boost demand for U.S. Treasury notes, said Howard Lutnick, the CEO of Tether custodian Cantor Fitzgerald. Lutnick says China may see a potential digital dollar as a spy wallet. One of the long-running debates in the crypto market is whether U.S. dollar stablecoins – cryptocurrencies whose value is pegged to the currency – strengthen the greenback's global dominance. According to Cantor Fitzgerald's CEO, they do and are beneficial to the world's largest economy. "Dollar hegemony is fundamental to the United States of America," Howard Lutnick said during a Chainalysis Conference on Wednesday, according to Bloomberg. "It matters to us,…

Markets

Peter Schiff Warns About Major Bitcoin (BTC) Crash

Infamous gold bug Peter Schiff recently took to X (formerly Twitter) to predict a major Bitcoin (BTC) price crash. The largest cryptocurrency has so far dropped 12.9% from its all-time high of $73,737 which was achieved on March 14. Has Bitcoin peaked? Schiff recalled a trend during which many proponents of Bitcoin were adding laser eyes to their social media profiles. This happened at the peak of the bull market euphoria in 2011. The somehow cringe-worthy trend involved major celebrities and even politicians like Wyoming Senator Cynthia Lummis. The trend attracted a lot of mockery after the price of the…

Bitcoin

DePIN Platform Uplink Raises $10M Led by Framework Ventures

Uplink, a company attempting to democratize internet access, announced a $10 million funding round led by Framework Ventures. The firm is a Decentralized Physical Infrastructure Network (DePIN), a sector that data provider Messari estimates could have a market value of $3.5 trillion by 2028. DePIN projects connect blockchain technology with physical systems and often offer tokens to incentivize people to crowdsource the infrastructure. Uplink provides decentralized network connectivity with the aim of creating better distributed and user-operated infrastructure. According to the company, the idea is to reduce reliance on traditional centralized telecommunication providers. Users and enterprises will be able to…

Markets

Bitcoin’s Slump Sees Crypto Bulls Staring at $440M in Liquidations

Bitcoin’s drop below $64,000 led to over $440 million in losses for futures traders, with significant liquidations on Binance and OKX exchanges. Major cryptocurrencies like Ethereum, Solana, and Dogecoin also suffered losses, with expectations of bitcoin falling further to $55,000 amidst record-high outflows from Grayscale’s GBTC. A brief bitcoin (BTC) slump to under $64,000 caused over $440 million in liquidation for crypto futures traders betting on higher prices. Some traders expect bitcoin to reach the $55,000 level in the short term. Long bets on bitcoin took on $100 million in losses alone, with ether (ETH), Solana’s SOL and dogecoin (DOGE)…

Bitcoin

Solana’s DeFi Protocol Marginfi’s TVL Declines 25% Due to CEO’s Resignation

In a dramatic turn of events, marginfi, a prominent player in the Solana decentralized finance (DeFi) ecosystem, saw a sharp 25% decline in its Total Value Locked (TVL). This happened right after CEO Edgar Pavlovsky announced his resignation. How Marginfi Users Reacted to CEO’s Resignation The sudden departure sparked a withdrawal frenzy, with users pulling out nearly $100 million. Pavlovsky’s exit marked the climax of brewing internal strife, leading to significant unrest within the platform. He left, citing discrepancies with the operational ethos of Marginfi. Consequently, the TVL nosedived to around $600 million, reflecting the eroding trust and uncertainty among…

DeFi

7-Day NFT Sales Increase by 37%, Bitcoin-Based Collections Lead

Sales volumes of non-fungible tokens (NFTs) recorded a more than 37% increase to $277 million in the seven-day period ending April 11. Six of the top 10 collections with the largest sales volumes were Bitcoin-based NFTs. Some experts attribute the renewed interest in NFTs to the rise of real-world assets and NFTs with built-in utility. Wash Volumes, Transactions Decrease According to the latest data from Cryptoslam, the seven-day sales volumes of NFTs as of April 11 were $277 million, a more than 37% increase from the sales recorded in the previous period. During this period, the Uncategorized Ordinals compilation led…

NFT