Author: The Daily Hodl
Crypto analytics platform Santiment says one key factor is elevating the odds of digital assets witnessing a recovery. In a new thread on the social media platform X, the market intelligence firm says excessive bearish sentiment by investors raises the likelihood that digital assets spark a rally, similar to what was witnessed in Q4 of last year. “Crypto has been a slight letdown for traders over the past week, and we have been seeing higher than usual mentions of selling interest. Just like we saw throughout the Q4 bull rally, when the crowd begins to get too bearish, higher prices…
Legendary trader Peter Brandt thinks that it is within the realm of possibility for Bitcoin (BTC) to witness a meltdown before igniting a nearly 80% rally. Brandt tells his 771,500 followers on the social media platform X that BTC appears to be flashing a price pattern using the terms bump, hump, slump and dump. The pattern, which was also witnessed last year before BTC surged from $50,000 to above $100,000, suggests that BTC may “dump” to around $84,000 before recovering and ascending toward $150,000. “The big question in my mind is whether Bitcoin will get one more dump (or more…
A closely followed analyst says that deep-pocketed crypto investors have scooped up over $2.5 billion worth of XRP and Dogecoin (DOGE) in just a couple of days. In a new thread, crypto trader Ali Martinez tells his 111,500 followers on the social media platform X that whales have been making moves to accumulate payments-focused altcoin XRP. “Whales bought roughly one billion XRP in 48 hours!”‘ At time of writing, XRP is trading for $2.54, indicating that the whales accumulated $2.54 billion worth of the third-largest altcoin by market cap. Moving on to the popular meme asset DOGE, Martinez says that…
Analytics firm Glassnode is warning that Bitcoin (BTC) is approaching a critical juncture that has previously marked the end of the bull market. Glassnode says on the social media platform X that it is keeping a close watch on Bitcoin’s short-term holder (STH) cost basis, a metric that tracks the average price at which investors who have held their BTC for less than 155 days acquired their coins. According to Glassnode, historical data shows that Bitcoin tends to enter bear territory when its price moves below the metric’s value. “Bitcoin’s Short-Term Holder (STH) cost-basis model is crucial for gauging sentiment…
New data from market intelligence firm Arkham reveals that asset management titan BlackRock has built a $50 billion stash of Bitcoin (BTC) in 2024. The data also finds that software firm MicroStrategy, founded by BTC maxi Michael Saylor, bought $24 billion worth of the crypto king last year while financial services giant Fidelity accumulated $20 billion worth of BTC. Other notable digital assets in BlackRock’s portfolio include $3.6 billion worth of top altcoin Ethereum (ETH) and $68.5 million worth of the stablecoin USDC. However, Arkham goes on to note that BlackRock – which has over $10 trillion in assets under…
Fundstrat chief investment officer Tom Lee says those who turn a blind eye to Bitcoin likely believe that BTC will eventually plunge all the way down to zero. In an interview on the Global Money Talk YouTube channel, Lee says Bitcoin has proven its staying power after over a decade of existence. He also notes that it’s now very unlikely for Bitcoin to vanish, given that the incoming Trump administration has repeatedly expressed its support for the largest crypto by market cap. “I think that it’s probably better to just observe a few things. One is Bitcoin has now been…
A former research analyst at crypto intelligence firm Messari believes that the digital asset market will soar higher for longer. Ryan Watkins, a co-founder at digital asset investment firm Syncracy Capital, says on the social media platform X that he believes crypto patterns such as the four-year cycle and altcoin season are becoming a thing of the past. According to Watkins, the digital asset market has changed with the emergence of crypto-based exchange-traded funds (ETFs), projects proving their market fit and use case and an upcoming US administration that supports the industry. “Think most people would be better off deleting…
A closely followed trader known for being early on the Bitcoin (BTC) bull run is issuing a warning that the current market cycle is probably already long in the tooth. In a new strategy session on YouTube, the pseudonymous trader known as DonAlt tells his 65,000 subscribers that price targets for BTC above $150,000 are likely too aggressive. DonAlt also says that he’s anticipating an end to the market cycle in the next couple of months, rather than targeting a late-2025 peak that some analysts are forecasting. “I would like to see a last leg for everything. Like an aggressive…
Three low-cap altcoins skyrocketed in price on Friday after Binance added trading support for the crypto assets. The top global crypto exchange by trading volume listed aixbt by Virtuals (AIXBT), ChainGPT (CGPT) and Cookie DAO (COOKIE). CGPT, the native asset for ChainGPT, a web3 artificial intelligence (AI) infrastructure project, witnessed particularly pronounced gains, ripping by about 105% from $0.2 to $0.41 in a 24-hour period between Thursday and Friday. The 301st-ranked crypto asset by market cap has given up some of its gains and is trading at $0.346 at time of writing. AIXBT is a crypto market intelligence platform developed…
BitMEX co-founder Arthur Hayes believes Bitcoin (BTC) could explode to seven figures in just a few years. In a new interview with co-founder and host of Impact Theory Tom Bilyeu, Hayes outlines his case for why Bitcoin may increase more than 950% from its current value in three to five years. He predicts governments will massively increase their money supply while long-term Bitcoin holders will continue to grow in number due to its store of value potential. “The supply of Bitcoin is fixed. We know [only] 21 million will ever be produced. However, as you have people like BlackRock, [Michael]…