Author: The Daily Hodl
Several billionaire money managers have modified their portfolios and poured about $1.8 billion into new assets, according to a new report. Billionaires Philippe Laffont, Stanley Druckenmiller, Chase Coleman, Stephen Mandel and Larry Robbins are accumulating AI-centered equities, reports The Motley Fool. The investors have specifically targeted US semiconductor and software giant Broadcom (AVGO), purchasing a total of 1,728,646 shares valued at about $1.47 billion in the third quarter of last year. The firm’s AI revenue has surged in recent months, powering a 125% rise in the stock over the last year. The wealthy investors have also purchased roughly 1,749,613 shares…
On-chain metrics suggest Bitcoin (BTC) could be headed for sideways movement or more correction amid weakening buying pressure, according to the crypto analytics firm Glassnode. Glassnode says on the social media platform X that BTC’s short-term demand momentum has dwindled. “One key indicator: Hot Capital (capital revived over the last 7 days) has plunged 66.7% from its December 12th peak of $96.2 billion to $32.0 billion.” The firm notes that BTC’s diminishing exchange volume momentum and low funding rates also hint at reduced demand. “The 30-day average of exchange volume is nearing the 365-day average, reflecting reduced capital flows since…
Bitcoin Has a High Probability of Reversing Upwards After Pullback, Says Crypto Analyst – Here’s Why
A widely followed crypto analyst says that there’s a high chance that Bitcoin (BTC) reverses course after its latest pullback. In a new strategy session, pseudonymous crypto trader Rekt Capital tells his 529,900 followers on the social media platform X that based on historical precedence, the crypto king should mount a recovery. “Bitcoin started its current -15% pullback in week seven of price discovery. The timing of this retrace is in line with historical tendencies. It is the first price discovery correction of this cycle. As a result, it has a high probability of reversal.” Price discovery is the process…
A British judge has rejected a Welsh IT worker’s bid to search a landfill for a discarded hard drive containing Bitcoin (BTC) worth over $600 million, ending a 12-year quest to recover the lost cryptocurrency. According to a new report from the BBC, James Howells lost the device containing 8,000 Bitcoin during a 2013 house cleanup in Newport, Wales, when he mistakenly threw away the wrong hard drive. The BTC on the hard drive, which Howells mined in 2009 during cryptocurrency’s early days, has skyrocketed in value since then. Despite offering to share the recovered funds with the local community…
The co-founders of the blockchain analysis platform Glassnode are warning that Bitcoin (BTC) may have a sudden pullback even as it continues to hold a critical range as support. Glassnode and Swissblock co-founders Jan Happel and Yann Alleman, who share the social media handle Negentropic, say that low trading volume suggests there is a risk Bitcoin may suddenly correct by more than 7% of its current value if it fails to hold $91,500 as support. The analysts also say that the latest US job data released Friday morning may create market volatility. “Bitcoin is holding support at $91,500-$92,500 but lacks…
A widely followed cryptocurrency analyst believes one Dogecoin (DOGE) and Shiba Inu (SHIB) competitor is gearing up for a huge upside burst. The analyst pseudonymously known as Bluntz tells his 307,800 followers on the social media platform X that FLOKI (FLOKI) is primed to go up by at least 114% from its current level. Based on the widely followed analyst’s chart, it appears he is suggesting that FLOKI has almost completed an inverse head-and-shoulders pattern on the weekly time frame. In technical analysis, inverse head-and-shoulders patterns suggest that an asset may be poised to rally after printing a bullish higher-low…
A top cryptocurrency analyst and trader is warning that Bitcoin (BTC) may plummet if it loses one key level to the downside. The analyst pseudonymously known as DonAlt tells the 65,100 subscribers of the Technical Roundup YouTube channel that Bitcoin could correct more than 13% from its current value. However, he warns if Bitcoin cannot hold $80,000 as support, a bearish trend may persist. “It would be good if [Bitcoin] held $95,000. If not, and if all of this breaks down, you’re basically out of luck in terms of support. And then you have to look in here for new…
Economist and trader Alex Krüger is leaning bullish on Bitcoin (BTC) even as the flagship crypto asset hovers around 14% below the all-time high. In a new episode of the Unchained podcast, Krüger says that Bitcoin has more upside potential and is not even “remotely” close to the cycle top. According to the economist and trader, the approval of spot Bitcoin exchange-traded funds (ETFs) in January of 2024 could result in the crypto king no longer following the usual four-year cycles that revolve around the halving. “I think that what happened is the introduction of the ETF and the flows…
One savvy crypto trader and deep-pocketed investor is drawing attention for making huge profits trading meme token Pepe (PEPE). Blockchain tracking firm Lookonchain says an anonymous trader moved 427 billion Pepe tokens worth $8.5 million at the time of the transfer to US-based crypto exchange Kraken where the crypto trove could potentially be sold on the open market. Meanwhile, the whale continues to hold one trillion PEPE worth $18.4 million at the time, showing a profit of about $2 million. According to Lookonchain, the same trader just last month gained millions of dollars in profit by selling all his Pepe…
The world’s largest crypto exchange by trading volume is adding support for the recent migration of a popular blockchain game. According to a new announcement from Binance, the exchange will kick off trading services for the Mines of Dalarnia’s transition to Dar Open Network (D) starting tomorrow. “Fellow Binancians, Binance is excited to announce that Dar Open Network (D) will be added to Binance Simple Earn, ‘Buy Crypto’, Binance Convert, Binance Margin, Binance Auto-Invest, and Binance Futures at the respective dates and timings listed below… D Flexible Products will be listed on Binance Simple Earn at 2025-01-09 08:00 (UTC) and…