NFT News by Thebittimes.Com

Crypto markets have been running wild, and Bitcoin ($BTC) has been moving like a small cap in loose monetary conditions. People might not want to hear this, but things need to cool off before another leg up. Time for a pull-back? After melting charts , the OG of crypto may need a breather . Here’s what you could buy in the meantime . Presales offer a harbour from volatility, and regarding what crypto to buy today, Galaxy Fox ($GFOX) is garnering a lot of attention. This presale gem could let investors dodge the incoming dip and pick up right where they left off with the arrival of meme mania chapter two. Bitcoin ($BTC) time for a pull-back?  Bitcoin has been melting the charts, and February represented its second-largest candle in history- the largest by a longshot in dollar terms. TradFi money has been driving this wild price action, and institutional demand has been racing ahead of issuance from miners. Demand overtaking supply is the most basic ...

Bitcoin price hit $30,369 on Saturday, its highest level since July. While bulls could push higher in coming weeks, the immediate outlook suggests a bearish flip. Crypto analyst Ali points to the TD Sequential indicator as hinting at a sell signal. Bitcoin price rose to its highest level since July when it broke above $30k to reach highs of $30,369 on Saturday. BTC is indeed looking for its fourth-biggest weekly gains year-to-date. However, although the benchmark crypto trading around $29,950 at the time of writing, an analyst says further retreat is possible given the potential for a key bearish signal .On the upside, market observers see a flip and weekly candle close above $31k as what bulls need to take control of the prevailing volatility. BTC price shows sell signal According to crypto analyst Ali, the potential for a head-and-shoulders pattern for BTC on the daily chart has received greater attention across the market. And in a chart shared on X on...

Bitcoin is steady on December 13 during the Asian session after regaining bullish momentum above the $17,000 level. Similarly, Ethereum has followed suit, gaining control above $1,272 as investors await the US CPI figures, which are scheduled for 13:30 GMT. The global crypto market cap increased 0.27% to $848.96 billion in the previous day, as major cryptocurrencies traded in the green early on December 13. The total crypto market volume in the last 24 hours has increased by 29.04% to $35.10 billion. DeFi's total volume is currently $2.13 billion, accounting for 6.06% of the total crypto market 24-hour volume. The total volume of all stablecoins is now $33.82 billion, accounting for 96.35% of the total 24-hour volume of the crypto market. Let's take a look at the top 24-hour altcoin gainers and losers. Market Braces for US CPI Today The final significant piece of economic news before the Fed meeting, November inflation data, is expected to show easing price ...

Sourc: AdobeStock / amixstudio Repeated blackouts in several parts of Cuba have reportedly made operating cryptocurrency mining rigs impossible - and mining unsustainable. Many Cubans have lost thousands of dollars that they had invested in crypto mining equipment and graphics cards, according to a report by CubaNet. Numerous young Cuban entrepreneurs saw crypto mining as a way to earn these assets, which would provide them with valuable benefits, including online purchases abroad, as well as sending remittances and payments for services, among others. Per one such investor, however, the renewed energy crisis and blackouts in Cuba have had a devastating result for this industry, saying that, "Mining becomes more difficult or almost impossible every day, since deciphering a block can take days with the equipment turned on without interrupting the process and that in Cuba today is impossible.” Raydel González, a young computer scientist and a miner, went o...

On December 3, Bitcoin, the leading cryptocurrency, struggled to break above the $17,250 level, and it is now heading lower to $16,900. Similarly, Ethereum, the second-most valuable cryptocurrency, has fallen after being rejected at $1,300 and is now consolidating near $1,275. On December 3, major cryptocurrencies were mostly trading in the green, with the global crypto market cap up 0.92%  to $859.91 billion over the previous day. Over the last 24 hours, overall crypto market volume fell over 12% to $89.31 billion. The entire cryptocurrency market volume in the last 24 hours is $38.08 billion, a 10% fall.  The overall volume in DeFi is currently $2.84 billion, accounting for 7.5% of the entire 24-hour volume in the crypto market. The overall volume of all stablecoins is now $35.45 billion, accounting for 93% of the total 24-hour volume of the crypto market. Let's take a look at the top 24-hour altcoin gainers and losers. Top Altcoin Gainers and Losers Thre...

Source: Adobe/JHVEPhoto Only bitcoin (BTC) should be considered a commodity for regulatory purposes, and not ethereum (ETH), Rostin Behnam, chair of the Commodity Futures Trading Commission (CFTC), said in a recent speech. The view that BTC is the only cryptocurrency that can be considered a commodity is of major importance for the crypto space, and could potentially spell trouble for ETH and other tokens going forward. It also contradicts previous remarks from Behnam, who in October suggested that ETH could also be a commodity. During the event, Behnam commented on his experience working with bitcoin as a regulator, and admitted that the asset is difficult to regulate within the current framework. “[Bitcoin is] unlike any commodity we have dealt with,” Behnam said. If ETH is instead deemed a security for regulatory purposes, a stronger regulatory crackdown on both ETH as well as nearly all other altcoins can be expected from US regulators. Such a scenari...

During the UK session, the Bitcoin price prediction remains bullish; however, BTC has to violate a double top resistance level of $17,250 before showing a further upward trend.  On November 30, Federal Reserve Chairman Jerome Powell spoke at the Hutchins Center on Fiscal and Monetary Policy about the state of the economy, inflation, and the changing labor market. Powell forecasted that smaller-scale interest rate increases would begin in December. According to CME Group's FedWatch Tool, the Federal Open Market Committee (FOMC) meeting in December is expected to increase by 25 to 50 basis points rather than 75 basis points. The cryptocurrency and stock markets reacted positively to Powell's Brookings Institute speech, in which he noted promising inflation improvements that could lead to softer rate hikes.  Following Jerome Powell's speech, BTC/USD and several other cryptocurrencies are rising today. US Dollar Continues to Cool Off The US dollar ind...

Source: Scharfsinn86/Adobe South Korean police and prosecutors have quadrupled the amount of money they are spending on crypto monitoring tools in the past 12 months. Per Chosun Ilbo, law enforcers have spent some $2.4 million on crypto monitoring software and crypto-specific training for officers in the past year. Last year, that figure stood at $653,000. Police forces across the country have been forming specialized crypto units, which has led to an increase in spending. But, the media outlet explained, officers now how tools that allow them to trace crypto transactions back to individual IP addresses. They also have tools that allow them to monitor crypto transaction details in real time, examine activity on exchanges, and verify “source information” on crypto remittances. Part of the spending is likely attributable to the police force’s crackdown on crypto-powered drug trafficking. Darkweb operators have been operating portals that allow buyers ...

The leading cryptocurrency, Bitcoin, failed to break a descending triangle pattern and fell over 3% to $16,160 amid an increased level of FUD in the market.  Likewise, the second-most valuable cryptocurrency, Ethereum, has followed Bitcoin's lead and fallen sharply by nearly 5% to $1,171. Crypto Market Cap Update The global crypto market cap fell over 2% to $815.32 billion the previous day, sending major cryptocurrencies into the red early November 28. Over the last 24 hours, overall crypto market volume grew by 22.10% to $41.69 billion. DeFi's total volume is currently $2.60 billion, accounting for 6% of the overall crypto market 24-hour volume. The overall volume of all stablecoins is now $38.85 billion, accounting for 93% of the total 24-hour volume of the crypto market. Let's take a look at the top 24-hour altcoin gainers and losers. Top Altcoin Gainers and Losers Celo (CELO), Apecoin (APE), and UNUS SED LEO (LEO) are three of the top 100 coins that ...

The leading cryptocurrency, Bitcoin, failed to break above the $16,800 level on November 27 and began to fall toward the 38.2% Fibonacci retracement level. Similarly, the second most valuable cryptocurrency, Ethereum, has followed Bitcoin's lead and is trading bearishly above $1,200. Crypto Market Cap Update Major cryptocurrencies were trading lower early on November 27 as the global crypto market cap fell by 0.16% to $840.32 billion on the previous day.  Over the last 24 hours, overall crypto market volume fell 10% to $33 billion. DeFi's total 24-hour volume is currently $2.74B, accounting for 8% of the crypto market.  The overall volume of all stablecoins is now $31.69 billion, accounting for 93.28% of the total 24-hour volume of the crypto market. Let's take a look at the top 24-hour altcoin gainers and losers. Top Altcoin Gainers and Losers Apecoin (APE), UNUS SED LEO (LEO), and Huobi Token (HT) are three of the top 100 coins that ha...

Source: AdobeStock / AndriiKoval Major crypto exchange OKX said it launched a self-audit feature, which currently supports three cryptoassets. "You can now verify your assets are backed 1:1 on OKX," said the announcement. The new feature supports bitcoin (BTC), ethereum (ETH), and the USDT stablecoin, with more assets to come, said the company. The website offers users the option to view their audit, as well as to view OKX reserves. It claimed that its on-chain wallet holdings are public so that users can always verify that their funds are backed by real assets. It also said that it regularly publishes Proof-of-Reserves (PoR) audits, enabling users to verify that their assets are held in the exchange's reserves. Proof of Reserves is a common audit method, said OKX, which is used to ensure that a custodian indeed holds sufficient funds to cover all assets held on their exchange. To verify the audit, three steps come into play: a Merkle tree is used, whi...

Bitcoin failed to maintain its upward trend on November 23 and fell below $16,650. However, following the release of dovish FOMC meeting minutes, Bitcoin is gaining bullish momentum.   According to FOMC minutes, Fed officials' "Substantial Majority" see rate hikes slowing "soon." Most Open Market Desk survey respondents thought a 50 basis point increase in the federal funds rate target range at the December meeting was the most likely outcome. Furthermore, an uptrend in Bitcoin was triggered after New York Governor Kathy Hochul signed legislation prohibiting certain bitcoin mining activities powered by carbon-based energy sources. New York State to Ban Crypto Mining for Two Years For the next two years, a proof-of-work mining company will be barred from expanding, renewing permits, or allowing new competitors to begin operations unless it uses only renewable energy. Bitcoin is a proof-of-work (PoW) system in which miners compete to process up...