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.

Real Reasons For Bitcoin Crash Revealed, Not GBTC

BitcoinJan 24

In his latest essay, Arthur Hayes, the founder of BitMEX, articulates a contrarian perspective on the recent downturn in Bitcoin’s price, refuting the mainstream narrative that attributes the decline to outflows from the Grayscale Bitcoin Trust (GBTC). Instead, Hayes points to macroeconomic maneuvers and monetary policy shifts as the real drivers behind Bitcoin’s volatility. Monetary Policy And Market Reactions Hayes kickstarts his analysis by shedding light on the US Treasury’s recent strategic shift in borrowing, a decision announced by Janet Yellen on November 1. This pivot towards Treasury bills (T-bills) has triggered a substantial liquidity injection, compelling money market funds…

Ethereum Whale Transfers Across Exchanges And DeFi, What Is Going On?

EthereumJan 24

An Ethereum (ETH) whale has recently executed a series of transactions, carrying out a considerable movement of funds across various platforms. The blockchain analytics platform Spot On Chain initially brought to light this activity, involving roughly $46.02 million in ETH tokens. Deciphering The Whale’s $46M ETH Transfer Across Major Platforms The whale, operating through a network of eight wallets, initiated the withdrawal of these funds from major exchanges, Binance and Bitfinex. The complexity of these transactions did not end there. Following the withdrawals at an average price of around $2,419 per ETH, the whale engaged with Lido, a prominent liquid…

Bitcoin Evangelist Does Not See Bitcoin Hitting $30K

BitcoinJan 24

In the midst of the tumultuous landscape of the price volatility of Bitcoin, a prominent figure stands out, exuding unwavering optimism amidst the chaos: Samson Mow, the self-proclaimed evangelist of the cryptocurrency. Recently transitioning from his Chief Strategy Officer role at Blockstream to assume the position of CEO at Jan3, an entity focused on facilitating Bitcoin adoption at a nation-state level, Mow is placing a substantial bet on the future of the digital gold. Bitcoin Proponent Sees Investor Hopes Dashed Amidst whispers of a potential plunge below the $30,000 mark, Mow remains resolute in his positive outlook. Dismissing concerns, he…

Ethereum Evening Star Could Mean Lights Out On Bull Run

EthereumJan 24

Ethereum over the last several weeks finally began to gain some strength against Bitcoin and other top performing cryptocurrencies. But in the past few weeks, the upside has since been almost entirely erased. The up – then right back down – price action has formed a potential bearish Japanese candlestick reversal signal. Will ETHUSD continue down further, or surge back into an uptrend? We’ll explore the technical signals to watch for. Ethereum ETHUSD Possible Reversal Signal The two top cryptocurrencies by market cap, Bitcoin and Ethereum, have had an unusual divergence between the two assets in terms of price action.…

This Massive $500 Billion Investment Could Send Price Above $50,000

BitcoinJan 23

Previous speculation has resurfaced regarding one of the largest potential Bitcoin buy-ins in the history of cryptocurrency. According to crypto analyst Justin Verrengia, there are indications that Saudi Arabia and Qatar may be gearing up for an enormous Bitcoin purchase, with an official announcement anticipated in the coming week. Saudi Arabia, Qatar Rumored To Purchase 1 Million BTC In a recent video published on X (formerly Twitter), Verrengia, the host of the popular crypto channel Crypto News Alert spoke on the recent rumors sparked by crypto analyst Mark Keiser regarding a potential large-scale Bitcoin purchase by Middle Eastern country Saudi…

Chinese Metaverse Takes Shape with New Standardization Working Group

MetaverseJan 23

The idea of a metaverse, a digital shared area the place customers can work together in numerous methods, has been gaining traction globally. In response to this development, the Chinese language authorities has taken proactive steps in direction of establishing requirements for a Chinese language metaverse platform. This month, the Ministry of Trade and Data Expertise (MIIT) introduced the formation of the Metaverse Standardization Working Group. This group includes Chinese language universities, authorities establishments, and tech giants akin to Tencent, Huawei, and Baidu. With their mixed experience, the group goals to form China’s metaverse future by establishing guidelines for metaverse…

Bearish Sell Signal Triggers As Bitcoin Falls Below $39,000

BitcoinJan 23

Bitcoin price is struggling to stay above $39,000 per coin and as it sinks lower, an ominous bearish technical signal is triggering. Bitcoin Selloff Prompts Possible Change In Momentum Selling pressure driven by FTX’s estate dumping nearly $1 billion in Grayscale GBTC shares caused Bitcoin price to lose the $39,000 level today, currently trading around $38,900 at the time of this writing. The selloff hasn’t fallen deep enough for a convincing breakdown of the key psychological level, however, a bearish crossover of a momentum technical tool could trigger additional downward price action. The recent drop has caused the weekly LMACD…

Why experts think Bitcoin will break its all-time high in 2024

BitcoinJan 23

Bitcoin is not behaving the way crypto enthusiasts thought it would after the Bitcoin ETF approval by the SEC. There was an uptick for the next two days, with prices reportedly touching the milestone of $48k; however, it was soon overtaken by the sentiments of the bear when the coin went for free fall. The current condition is such that BTC is way below $40,000, exchanging hands at $39,811.45. Nevertheless, experts are confident that Bitcoin will hit a bull run before ending in 2024. Predictions estimate that the BTC price may inch closer to its all-time high of $65,000 before…

Bitcoin Price Drops Sub $39,000

BitcoinJan 23

The Bitcoin price has plummeted below the $39,000 mark, the lowest level since December 2. This significant drop can be attributed to three main factors that have collectively contributed to the current market sentiment and price action. #1 Selling Pressure From Grayscale’s GBTC Outflows The market has been heavily influenced by the continuous outflows from the Grayscale Bitcoin Trust (GBTC). Bloomberg analyst James Seyffart commented on the severity of the situation, stating, “Woof. BAD day for Bitcoin ETFs overall in the Cointucky Derby. GBTC saw over $640 million flow out today. Outflows aren’t slowing — they’re picking up. This is…

JP Morgan Reveals Likelihood Of Spot Ethereum ETFs Getting Approved

EthereumJan 23

Now that Spot Bitcoin ETFs have been approved by the United States Securities and Exchange Commission (SEC), the crypto space anticipates more ETFs to enter the market, particularly Spot Ethereum ETFs. Despite this, analysts at JP Morgan, an American multinational financial service firm, have revealed a less than optimistic outlook for the potential approval of Ethereum Spot ETFs. Ethereum Spot ETF Approval Prospects In a note to clients issued on Thursday, January 18, JP Morgan analysts led by Nikolaos Panigirtzoglou, the Managing Director at the financial service firm, expressed their reservations regarding the anticipated approval of Spot Ethereum ETFs by…