NFT News Daily Offcial TheBitTimes.com

Bloomberg Intelligence senior commodity strategist Mike McGlone has warned that Bitcoin (BTC) faces a critical test against gold that could shape investor flows for the remainder of 2025. He pointed to a key ratio comparing Bitcoin’s value to gold, showing the world’s largest cryptocurrency hovering around 35 ounces of gold per Bitcoin, a level that previously marked the 2021 peak. In an X post on August 16, McGlone cautioned that if Bitcoin fails to hold above this threshold, it may trigger a shift in capital toward U.S. Treasuries as the “next big trade.”  “If the first-born crypto in 2009 — now with about 19-million minions — backs down from roughly 35 ounces of the rock on Aug. 15, it may signal T-bonds as the NBT,” he said.  He suggested that Bitcoin’s inability to defend the level could cement Treasuries as the preferred haven, with yields potentially sliding toward 1.75%, mirroring a trajectory seen in China. McGlone’s Analysis indica...

The new BRICS member Iran is calling for a ‘unified currency’ to challenge the US dollar’s global reserve currency status. The Islamic Republic is pulling several options to dim the prospects of the US dollar’s hegemony. Iran is reeling under sanctions from the US and is desperate to find a viable option to lift its economy. The desperation comes after several countries ended conducting business with Iran that stalled its economy leading to a lackluster GDP. Also Read: De-Dollarization: New Country Emerges To Abandon the US Dollar After China and Russia, Iran is now spearheading the de-dollarization agenda as a way to take on the US dollar. Read here to know how many sectors in the US will be affected if BRICS launches a ‘unified currency’. The move could make the US dollar lose out in the supply and demand mechanism in the currency markets. It could lead to hyperinflation if the US fails to make other countries use the dollar for trade. Also Read: BR...

A crypto trader has realized nearly $5 million in profits from a six-month position trade with the meme coin PEPE. The position had a dollar-cost average of around $500,000 and an approximate valuation of $5.3 million on sale. Essentially, the address ‘0x42C8‘ withdrew a total of 365.96 billion PEPE from the crypto exchange MEXC in three days. At that time, from December 13 to 16, 2023, this stack was worth approximately $496,000, as reported by Lookonchain . Six months later, on June 4 at 03:26 am UTC, the crypto trader deposited all the tokens to Binance. Interestingly, this usually means selling intention and suggests the trader has closed the six-month PEPE position with realized profits. Picks for you PolkaPort East launches in Hong Kong, supporting the decentralization of  Polkadot ecosystem  ...

Crypto traders and investors often overlook the tokenomics of cryptocurrencies’ supply inflation. Understanding this offers competitive advantages in the cryptocurrency market. With that in mind, Finbold looked at Solana (SOL) tokenomics from a different perspective. Public market data from leading indexes can demonstrate the effects of an increased supply inflation. It is possible to calculate the exact price SOL would trade if it ever hits the all-time high market cap. A token needs more demand to keep its same value, facing an inflationary supply. These two factors influence whether a cryptocurrency’s price rises or falls. Each cryptocurrency, including Solana, has its unique ‘tokenomics’ structure. Solana had an all-time high market cap of $80.965 billion on November 8, 2021, according to TradingView ’s CRYPTOCAP index. Cryptocurrency XRP would trade at this price if it hits its all-time high market cap Cryptocurrency Is it too late to invest ...

Solidus Labs research finds $2 billion in deceptive wash trading activities across Ethereum-based decentralized exchanges.  Newly released data from Solidus Labs, a crypto trade surveillance and risk monitoring platform, indicates that a staggering $2 billion worth of crypto assets has been wash-traded on Ethereum-based decentralized exchanges (DEXs) since 2020. The report casts a spotlight on the pervasive but preventable issue of market manipulation in the world of decentralized finance (defi). Major Update! Unveiling Part Two of our Crypto Market Manipulation Report! Our data shows a shocking $2 billion #wash trade s on DEXs since Sept 2020. That's affecting over 20,000 tokens! ️ Full details here in our report : https://t.co/pcRvMBGfb0 — Solidus Labs (@Solidus_Labs) September 12, 2023 Tracing the pattern: Wash trades and manipulated crypto pools Wash trade is a malicious tactic where traders place both buy and sell orders with themselves to artificially in...

Professional traders can hedge their Bitcoin bets using the iron condor options strategy as Q2 earnings' season comes into play. The stock market can offer valuable insights into possible Bitcoin (BTC) price movements as a big potential trigger is expected this month. Q2 earnings' numbers due this month Notably, Q2 earnings' numbers are expected from some of the largest companies in the world in July, including: UnitedHealth, Citigroup and JPMorgan on July 14; Bank of America and Morgan Stanley on July 18; Tesla, Google, Apple, Meta, Microsoft and Amazon before July 27. The S&P 500 companies account for an aggregate $36.5 trillion in market capitalization, so it makes sense to expect a positive impact on Bitcoin’s price if the earnings season sustains modest growth. In other words, investors’ appetite for risk-on assets will increase if the odds of an imminent recession are reduced. Leverage to be avoided given the level of uncertainty Traders who have been calling fo...

ARB token sold-off upon listing at exchanges and some users reported a tech-issue laden claim experience, but the token could still follow the trajectory of previous airdrops. The official Arbitrum airdrop page crashed right after the claiming process began around 9 a.m. EST. Some users still managed to claim it through alternative methods like Arbiscan. In the first two hours, the market witnessed a massive sell-off of the token as its price declined from over $10.29 to lows of $1. At ByBit, the token started trading for $7.50, but dropped to $1.50 within minutes. At the time of writing, the token was trading at $1.33. Only one address successfully sold the token at $10.29 through the ARB/USDC pool on Uniswap, bagging $64,340 for 6,250 tokens. A few others were able to sell for $4.50, however, the price dropped quickly below $1.50 as more sellers arrived.  ARB/USDC trades on Uniswap. Source: GeckoTerminal Nansen data shows that out of 6.03 million ARB claimed by “smart money” wallets...