Author: The Daily Hodl

Former President Donald Trump has reiterated that he doesn’t think the US government should be selling its seized crypto. The Republican nominee shared his thoughts on crypto during a livestream interview with the influencer Adin Ross on Monday. “It’s a very modern currency. It’s a very modern form. I know a lot of very good people that are really into that world and into that market. They’re smart. They’re good people. And they think it’s going to be very beneficial. And remember this, it’s very important — it’s like AI. Do you love it? Do you not like it? If…

Crypto giant Grayscale is launching new trusts for machine learning marketplace Bittensor (TAO) and smart contract platform Sui Network (SUI). In a new press release, the world’s largest crypto asset manager says it’s launching the new products due to growing consumer demand for diversification. “Grayscale Bittensor Trust is solely invested in TAO, the token underpinning the Bittensor protocol, which leverages tokens to incentivize the development of open-source AI. Grayscale Sui Trust is focused solely on investing in SUI, the token underpinning the Sui protocol, a high-performance layer-1 smart contract blockchain designed to enable globally scalable decentralized applications.” According to the…

Bitwise’s Matt Hougan says that the recent crypto market correction is reminiscent of March 2020 – a big opportunity for bulls. Hougan says on the social media platform X that the Covid-induced crash of March 2020 “supercharged” the reasons for Bitcoin’s long-term rise, while its short-term price was decimated. “It showed us that central banks would bail out the economy at the first sign of trouble. It demonstrated the limitations of centralized institutions. And it reminded us that the future is digital.  The changes all pointed in favor of Bitcoin becoming more important, not less. In the long term, that’s…

A hedge fund based in the United Kingdom (UK) is investing hundreds of millions of dollars in the two largest spot Bitcoin (BTC) exchange-traded funds (ETFs) by cumulative net inflows. According to a U.S. Securities and Exchange Commission (SEC) filing, Capula Management is currently holding a combined $464,304,032 in the spot Bitcoin ETFs issued by BlackRock and Fidelity Investments. Per the filing, Capula Management holds 7,419,208 shares in BlackRock’s iShares Bitcoin Trust (IBIT) ETF worth approximately $253.3 million. The UK hedge fund also currently holds 4,022,346 shares in the Fidelity Wise Origin Bitcoin Fund (FBTC) ETF valued at slightly over…

A closely followed crypto analyst says that one key indicator is flashing a similar bottom signal for Bitcoin (BTC) as it did in November 2022. In a new strategy session, crypto trader Ali Martinez tells his 68,900 followers on the social media platform X that Bitcoin’s Market Value to Realized Value (MVRV) is the lowest since after the FTX crypto exchange collapse. The MVRV is the ratio of a crypto asset’s market capitalization relative to its realized capitalization or the value of all the coins at the price they were bought. When the MVRV value drops below zero, it indicates…

An analyst who accurately called the most recent crypto correction is issuing a dire warning to Ethereum (ETH) holders. Crypto strategist Benjamin Cowen tells his 845,000 followers on the social media platform X that Ethereum looks poised to repeat its massive corrections witnessed during the 2016 and 2019 market cycles. According to Cowen, a similar script appears to be playing out after Ethereum recently collapsed against Bitcoin (ETH/BTC). “This idea for ETH/USD is starting to look more believable.” In May of this year, Cowen predicted that ETH would lose 70% of its value and plunge close to $1,150. “The last…

Seasoned trader Peter Brandt is suggesting that Bitcoin (BTC) may be gearing up for a massive breakout after Monday’s sharp decline. Brandt tells his 732,800 followers on the social media platform X that Bitcoin may be repeating a similar pattern from two cycles ago after falling into the $49,000 range. “Please note that BTC decline since halving is now similar to that of the 2015-2017 halving bull market cycle.” According to Brandt’s chart, Bitcoin’s collapse Monday to $49,000 was a 26% decline from this year’s weekly close after the halving event, when miners’ rewards were cut in half. Bitcoin sustained…

Widely followed analyst and trader Michaël van de Poppe believes there are four catalysts that could revive the crypto bull market after this week’s broad sell-off. Van de Poppe tells his 721,400 followers on the social media platform X that if there are significant inflows into both spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) during the next few weeks, it could spark a crypto rally. “If ETH, especially ETH, starts to become positive, that would be the ideal trigger for the markets to surge.” He also believes that worsening macroeconomic conditions could cause gold to soar and the…

The chief executive officer of the world’s largest crypto exchange says that crypto’s latest crash is likely to be short-lived. According to Binance CEO Richard Teng, outside forces are currently shaping the digital asset markets. “Recent sharp drops in crypto & equity prices are influenced by macroeconomic factors. We do NOT believe it’s indicative of a long-term negative trend. With potential Fed rate cuts & geopolitical volatility, there’s still significant potential for market fluctuations. Reminder to always DYOR (do your own research) & stay informed. Keep building!” The crypto market cap, which sat around $2.48 trillion seven days ago, is…

MicroStrategy founder and executive chairman Michael Saylor says that younger voters are growing tired of traditional finance and finding Bitcoin (BTC) more attractive. In a new interview on CNBC, the BTC firebrand says that millennials, people born from 1981 to 1996, are starting to feel that Bitcoin offers many more benefits than traditional finance, including round-the-clock access. 2:45:- “What you have is two constituencies. You’ve got traditional finance, and traditional finance operates 19% of the time. It costs $40 million to take a company public. There’s no credit, there’s no liquidity on the weekend. Bitcoin represents a different thing. It…