Author: The Daily Hodl
Crypto analytics firm Glassnode is warning that Bitcoin (BTC) may soon run up against a strong resistance level. The firm says on the social media platform X that long-term holders (LTHs) of Bitcoin – entities that have kept their coins inactive for at least 155 days – may start selling BTC near the $100,000 level based on the unrealized profit margin metric, potentially causing a market correction. “Historically, LTHs begin distributing more aggressively around a 350% unrealized profit margin, which aligns with a BTC price of ~$99,900. As the market nears this level, increased sell-side pressure is likely, requiring strong…
The Ethereum (ETH)-based layer-2 project Movement (MOVE) cratered to an all-time low on Thursday after Coinbase announced it would axe trading support for the asset on May 15th. Coinbase didn’t articulate a specific reason for the delisting, but the decision materialized a few weeks after Movement became embroiled in a controversy on another top crypto exchange. In late March, Binance banned and froze the assets of a market maker that operated for Movement. The layer-2 project’s native token launched via Binance’s Airdrops Portal in December, but Binance said that after MOVE was listed, the unnamed market maker sold approximately 66…
Stablecoin issuer Tether (USDT) is reportedly looking to return to the US with a new dollar-pegged digital asset. According to a new report by CNBC, the world’s largest stablecoin issuer is looking to launch a new crypto asset pegged to the US dollar by the end of the year as its chief executive continues to influence national crypto policies. News of the new stablecoins was confirmed by Tether CEO Paolo Ardoino in an interview with CNBC. According to Ardoino, Tether – which is headquartered in El Salvador – is attempting to rebrand itself as being cooperative with law enforcement, as…
The deputy director of the Central Intelligence Agency (CIA) says that the law enforcement and intelligence community can use crypto to track down US adversaries and disrupt their activities. In an interview with crypto bull and influencer Anthony Pompliano, Michael Ellis says that Bitcoin (BTC) and other cryptocurrencies have potential uses amid views that bad actors use these assets to carry out illicit activities. “We use technology as a tool and Bitcoin and other cryptocurrencies are another tool in the toolbox. It’s something that we can use to disrupt our adversaries’ use of it and we can use these technologies…
A closely followed crypto analyst says that Bitcoin (BTC) is gearing up to skyrocket as market sentiment improves. In a new thread, pseudonymous crypto trader Dave the Wave tells his 152,600 followers on the social media platform X that, due to its status as an alternative currency or a digital form of gold, the crypto king is showing resilience during times when many traders thought money would be flowing out of it. “A couple of months back, people were worried that the BTC market would be caught up in a general market panic and that money would fly to USD.…
The Solana (SOL) competitor Sui briefly ticked up in price on Thursday after news broke that the crypto exchange-traded fund (ETF) provider 21Shares filed for a spot SUI ETF in the US. SUI was trading around $3.56 prior to the announcement and jumped to a high of $3.75 a few hours later, an increase of more than 5%. The 13th-ranked crypto asset by market cap has since retraced and is trading at $3.57 at time of writing. Duncan Moir, president of 21Shares, says the Sui ETF filing, which is subject to approval from the U.S. Securities and Exchange Commission (SEC),…
Prominent analytics firm Santiment says the altcoin market may continue to rally as long as two main factors persist. In a new strategy session, Santiment says altcoins will likely continue to trend higher if Bitcoin (BTC) does not return to the $80,000 range and if possible, exchange-traded funds (ETFs) for alts continue to generate excitement. “As we kick off May trading, stay alert to quickly evolving narratives – particularly if Bitcoin holds its position, and profits continue redistributing to various projects based on the latest news breaks. The altcoin rally may have legs if ETF hype continues, and if Bitcoin…
The company behind the largest stablecoin by market cap raked in substantial gains in the first quarter of 2025. In a statement issued following the publication of its Q1 2025 attestation, Tether says it generated over $1 billion in operating profit from traditional investments between January and March this year. The stablecoin issuer credits the impressive returns to the solid performance in its U.S. Treasury portfolio. Tether says gold also nearly offset the volatility in the crypto markets. The company’s Q1 2025 financial report shows that it has $98.5 billion in U.S. Treasury bills, around $6.3 billion in money market…
A general partner at digital asset investment firm Pantera Capital is optimistic that crypto will have a bullish year despite the significant correction witnessed since Bitcoin (BTC) hit an all-time high in January. According to Pantera Capital’s Cosmo Jiang, the worst phase for crypto assets could now be over, despite the macroeconomic headwinds still hanging over the industry. “…this was a challenging quarter, with large macro forces clearly in the driver’s seat and causing a meaningful risk appetite pullback. The biggest overhang continues to be the uncertainty around tariffs and their impact on the global economy. The picture remains highly…
A closely followed analyst believes that one top-30 altcoin may put up massive gains in the near term. Pseudonymous analyst Altcoin Sherpa tells his 245,300 followers on the social media platform X that the utility token of the decentralized open financial system Hyperliquid (HYPE) may increase 150% from its current value as it prints a bullish pattern on the daily chart. “Bought a small HYPE perp position [April 30th]; not sure how long I’ll hold for. Still one of the best utility coins and projects out there and it’s slowly grinding higher. Wouldn’t be surprised to see this go to…