Author: The Daily Hodl

Widely followed analyst and trader Michaël van de Poppe believes that Ethereum (ETH) could suddenly take off on a massive rally for one main reason. Van de Poppe tells his 722,000 followers on the social media platform X that inflows into the spot ETH exchange-traded funds (ETFs) are exceeding new supply, which he believes is a bullish catalyst. “The ETH supply was created in 2024: $160 million. The net inflow in ETH ETF in the past two days: $150 million. The demand is exceeding the supply.” However, the analyst suggests that ETH’s big rally will likely depend on whether the…

US hedge funds and institutional investors reportedly remain bullish on Bitcoin (BTC) despite a massive selloff in the crypto market this week. According to a new report by Bloomberg, Yevgeniy Feldman, the co-founder of private brokerage firm SwapGlobal, says that blue-chip investors saw an opportunity to buy crypto at lower prices as Bitcoin fell by as much as 17% earlier this week. Says Feldman, “People got extremely liquidated on longs, it was horrific. But the US hedge-fund and institutional participants that trade options via OTC (over-the-counter) desks on Monday and Tuesday restarted making bullish options bets by buying call spreads…

A widely followed crypto analyst says that smart contract platform Solana (SOL) is likely to outperform Bitcoin (BTC) in the short term. In a new strategy session, pseudonymous crypto trader Credible Crypto tells his 408,400 followers on the social media platform X that Solana is “looking pretty strong” when paired against Bitcoin. According to the trader, Solana will record a new local high if it rises above the “cluster of resistance” sitting below the 0.0031 BTC price. Solana is trading for 0.0026791 BTC ($153) at time of writing. However, Credible warns that the Solana/Bitcoin pair could fall by up to…

A closely followed crypto analyst says that one Ethereum (ETH) competitor may retest lower levels within weeks. In a new strategy session, pseudonymous crypto trader Altcoin Sherpa tells his 219,200 followers on the social media platform X that Solana (SOL) could decline at least 14% from its current value. “SOL: $125-$150 remains a good place to accumulate SOL. I still believe this will be one of the best retail chains this cycle and much of the memecoin action is still there. Strong reaction [August 6th] but I still think you get another shot at $125 or lower in a few…

A widely followed analyst is expressing bullish sentiment on Bitcoin (BTC) days after the flagship cryptocurrency fell to a six-month low. The analyst pseudonymously known as Rekt Capital tells his 487,400 followers on the social media platform X that Bitcoin is “still on track for a September breakout.” To achieve that, trader says that Bitcoin needs to get back above the “re-accumulation range low” located at the $60,600 level. Bitcoin is trading at $57,239 at time of writing. According to Rekt Capital, CME gaps have formed in the Bitcoin re-accumulation range that exists between $60,600 and $71,500. A CME gap…

CryptoQuant chief executive Ki Young Ju thinks “something is happening behind the scenes” as permanent holder addresses gobble up Bitcoin (BTC). Young Ju tells his 360,800 followers on the social media platform X that 404,448 Bitcoin have moved to permanent holder addresses over the past 30 days, a clear sign of accumulation. “Within a year, some entities — whether they’re TradFi (traditional finance) institutions, companies, governments, or others — will announce that they’ve acquired Bitcoin in Q3 2024. And retail investors will regret not buying it because they were worried about the German government selling, Mt. Gox, or whatever macroeconomic…

CryptoQuant chief executive Ki Young Ju still thinks altcoins could shine despite the difficult macro headwinds. Last week, Young Ju predicted that altseason would begin in late 2024 or early 2025. In the wake of plunging crypto and stock prices over the weekend and on Monday, the analytics firm CEO reiterated this week that his prediction for altcoins wasn’t based on the macro environment. “It’s still uncertain whether Bitcoin is in a long-term bear market. If BTC stays above the $45,000 level, I believe the market could recover at any time. Everyone is aware of the unfavorable macro environment, and…

The venture capitalist branch of the world’s largest crypto exchange platform by volume is announcing a new investment into a Solana (SOL) staking protocol. In a new blog post, Binance Labs says it’s investing an unspecified amount into Solayer, a Solana-based staking network that has gathered over $150 million in Total Value Locked (TVL) and reeled in over 70,000 unique addresses in just 60 days after its launch. According to Binance, Solayer’s goal is to improve the bandwidth of on-chain decentralized applications (DApps) and to secure the blockchain. “Built natively on Solana, Solayer leverages the economic principles of proof-of-stake to…

A widely followed analyst believes Bitcoin (BTC) will spark a furious rally to regain all of its losses over the past week. Pseudonymous analyst The Crypto Dog tells his 806,500 followers on the social media platform X that he sees a swift Bitcoin recovery following its collapse from $70,000 to a six-month low of $49,000. “I guess we might just speed run retracing the whole dump as fast as we crashed.” The analyst’s bullish stance on Bitcoin comes after BTC quickly bounced off its lows and stayed above its immediate support at around $54,000. “Price not nuking (yet), maybe they…

A widely followed crypto analyst believes that one digital asset sector is going to have a massive revival this market cycle. Pseudonymous crypto trader Kaleo tells his 643,400 followers on the social media platform X that a bullish resurgence is likely for non-fungible tokens (NFTs). “I’m one of the crazy people that still believe NFTs will have another major run this cycle. Think back to late summer/early fall of 2020 at the beginning of the last bull market. NFTs were irrelevant. Punks hadn’t done anything significant yet. Finding the next DeFi (decentralized finance) play was the only thing anyone cared…