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 Eyes $45,000 Amid Anticipation Of FOMC Decision

BitcoinJan 29

After a challenging two weeks resulting in a 21% drop, the Bitcoin (BTC) price rebounded emphatically, closing last week on a strong note. The premier cryptocurrency witnessed a surge that saw it end with a Doji Hammer candle on its weekly chart, signaling a potential bullish reversal. Notably, this uptick has propelled Bitcoin’s value back into its previous range of $41,300 to $45,000. Keith Alan, the co-founder of Material Indicators, highlighted the significance of this pattern, stating, “Looks like we have a Doji Hammer candle forming on the BTC Weekly chart. That typically indicates a bullish reversal is coming. […]…

Bitcoin Whales Increase Their Holdings By $3 Billion

BitcoinJan 28

It’s only been a month into 2024, and Bitcoin has already experienced a whirlwind of activity. These events range from the SEC’s approval of spot Bitcoin ETFs to the cryptocurrency’s price underperforming with a decrease over the past month and selloffs from the Grayscale BTC Trust. Amidst all these, on-chain data has revealed an interesting sentiment of strategic accumulation among whales of the largest cryptocurrency. According to information provided by crypto analytics firm IntoTheBlock, Bitcoin whales have added over 76,000 BTC worth approximately $3 billion to their holdings since the beginning of the year. Bitcoin whales have increased their $BTC…

Analyst Says 'Bitcoin Price Correction Is Over'

BitcoinJan 28

The tides seem to be turning in favor of the Bitcoin price, as the market leader has reclaimed the $42,000 level for the second time in as many days. According to data from CoinGecko, the premier cryptocurrency has managed to register a 1.1% profit on the weekly timeframe. While Bitcoin appears to be garnering positive momentum at the moment, outflows from the Grayscale BTC ETF (GBTC) continue to brew fear of continued bearish pressure in the hearts of investors. However, a prominent crypto analyst has offered insights into the flagship coin’s recent movement, claiming that the price correction is over.…

Analyst Predicts Bitcoin Consolidation, Eyes Long-Term Price Target Of $500,000

BitcoinJan 28

In the last day, Bitcoin (BTC) has notched up minor gains to the tune of 0.7%, pushing its market price above the $42,000 mark. Investors in the world’s leading cryptocurrency are likely encouraged by this recent price gain, following the 20% price decline that trailed the highly anticipated approval of the Bitcoin spot ETFs earlier in January. Amidst many speculations on BTC’s next movement, popular crypto analyst Michaël van de Poppe has released a prediction that indicates Bitcoin’s movement may be restricted for the coming months. Albeit, he projects a massive price surge in future years. Bitcoin Potential Consolidation Paves…

Here Are The Major Drivers Behind The Bitcoin Price Recovery Above $42,000

BitcoinJan 28

Bitcoin recently surged above $42,000, having traded below $40,000 for several days. This market recovery is believed to be a result of different factors, including recent revelations about the US economy. Macroeconomic Factors That Contributed To The Recent Bitcoin Surge The personal income expenditures (PCE) price index, a leading inflation indicator, was released on January 26 and reported to have been lower than expectations. This suggests that inflation in the United States is cooling off, and experts predict that the Federal Reserve will likely reduce their aggressive monetary policies. The Fed’s hawkish stance is known to have a negative effect…

How to Buy, Sell, and Trade ERC-20 Tokens on the Ethereum Network

EthereumJan 27

The Ethereum network stands as a revolutionary innovation in the realm of blockchain technology. It serves as a robust platform for building and deploying decentralized applications (dApps), fueling the growth of decentralized finance (DeFi) and transforming the way we interact with financial services. However, with its widespread adoption and increasing popularity, Ethereum has faced challenges of scalability and high transaction fees, leading to the development of Layer 2 scaling solutions to enhance its capabilities. The Ethereum blockchain hums with innovation, birthing a new breed of digital assets known as ERC-20 tokens. These versatile gems unlock a treasure trove of possibilities,…

BlackRock’s IBIT Maintains Lead In Bitcoin ETF Race, Crosses $2 Billion In Inflows

BitcoinJan 27

According to data from BitMEX Research, BlackRock’s Bitcoin spot ETF – IBIT – has now set a new record, achieving a total net inflow of $2 billion. This feat allows IBIT to maintain its position as the best-performing fund of the bunch, following the approval of 11 Bitcoin spot ETFs by the US Securities and Exchange Commission on January 10. BlackRock’s IBIT Maintains Dominance As Total Net Flows Reach $744.6 Million On January 25, which marked the tenth trading day of the Bitcoin spot ETF market, BlackRock’s IBIT produced an unsurprising positive performance, notching $170.7 million in inflows. This gain…

Ethereum Faces Market Tremors As Celsius Offloads $1 Billion in ETH

EthereumJan 27

Ethereum (ETH) is about witnessing a potential sell-off worth $1 billion. This significant transaction is rooted in actions by Celsius, a bankrupt crypto lender. Reports from on-chain analyst Lookonchain indicate that Celsius initiated the transfer of 459,561 ETH, estimated to be worth around $1.014 billion, to various exchanges. The breakdown of this large-scale distribution includes 297,454 ETH ($656.5 million) moved to Coinbase Prime, 146,507 ETH to Paxos Treasury, and smaller sums totaling 7,800 ETH ($17.2 million) sent to FalconX and Coinbase, respectively. Despite this transfer, Lookonchain disclosed that Celsius still maintains a reserve of 62,468 ETH, valued at roughly $139…

US Government Will Dump $130 Million Worth Of Bitcoin

BitcoinJan 26

The US government has revealed its plans to offload a significant portion of its Bitcoin (BTC) holdings. This move has raised concerns in the crypto community, considering how much selling pressure this could add to what the crypto market is already facing. US Government To Sell $130 Million Worth Of Bitcoin The Department of Justice (DOJ) gave notice of its intent to dispose of over $130 million worth of Bitcoin. These crypto assets form part of what had been forfeited to the government in its case against Joseph Farace. The DOJ specifically noted that it had seized almost 2875 BTC…

Head Fund Guru Predicts 'Opportunity Of The Year'

BitcoinJan 26

Charles Edwards, the founder of hedge fund Capriole Investments, offered an in-depth analysis of the Bitcoin market yesterday. His review offers a granular perspective on the aftermath of the historic ETF launches, the pivotal role of major players like Grayscale, and the interplay of market mechanics shaping Bitcoin’s trajectory. Bitcoin Market Summary: ETF Launch Edwards acknowledged the ETF launches as a pivotal moment, characterizing it as “ETF Mania.” He emphasized the hindsight realization that the ETF launch triggered a short-term “sell the news event.” Edwards elucidated, “A portion of this can be attributed to the Grayscale outflows of over $4B,…