Author: The Daily Hodl

Analyst and trader Kevin Svenson is saying that Bitcoin (BTC) is flashing a bullish signal amid the flagship crypto asset’s double-digit bump over the past month. In a new video, Svenson tells his 78,400 YouTube subscribers that Bitcoin is on a parabolic trend and is close to a “point of going vertical.” “Bitcoin is near what is called a Blue Sky Breakout. A Blue Sky Breakout is when an asset breaks above all previous historic price action and experiences what’s called price discovery. So a Blue Sky Breakout is likely what’s coming up very, very soon.” According to Svenson, Bitcoin…

Dogecoin (DOGE) rival Floki (FLOKI) is soaring as crypto investment firm DWF Labs commits to a new massive purchase of the memecoin. DWF Labs tells its 85,800 followers on the social media platform X that Floki’s ecosystem advancements are cementing the project’s position in the digital assets sector. “Thrilled to announce our continuing support for Floki. We’re excited to support their team in several exciting launches this year: the mainnet version of Valhalla, a metaverse game, as well as several key utility projects. Congratulations to their team for all their work in driving widespread crypto adoption and solidifying their role…

A new report shows that over 100,000 people viewed a fake SpaceX livestream combining real video with an artificial intelligence (AI)-generated Elon Musk voiceover. According to a report and screenshot from TrustNodes, over 125,000 people were watching a SpaceX livestream on a fake YouTube channel with a QR code asking for crypto donations on the screen. The QR code remained on the screen for the entirety of the livestream. The YouTube channel, @SpaceXFromElon, has nearly 3 million subscribers, despite its prominent lack of a check mark. The real SpaceX YouTube channel, @SpaceX, has 6.7 million subscribers and, perhaps most importantly,…

A widely followed crypto analyst says that altcoins are poised to spark a massive rally starting at the end of June. In a new thread, crypto trader Michaël van de Poppe tells his 719,600 followers on the social media platform X that altcoins are gearing up for a ride “back to normal values.” “The altcoins are ready for their upwards run. I think we’ll be seeing a lot of momentum from late June until September – October. A repricing back to their normal values after the big cascade of the first period of the year.” Van de Poppe goes on…

On-chain analyst Willy Woo says there’s a “cascade” of liquidation that’s primed to begin when Bitcoin (BTC) hits $72,000. Woon tells his 1.1 million followers on the social media platform X that $1.5 billion worth of short positions are “ready to be liquidated all the way up to $75,000 and a new all-time high.” Woo also looks at the Bitcoin Macro Oscillator (BMO), which is a composite of four signals: the Market Value to Realized Value (MVRV) indicator, volume-weighted average price (VWAP) ratio, cumulative value-days destroyed (CVDD) and the Sharpe Ratio. MVRV is the ratio of Bitcoin’s market capitalization relative…

Retail trading giant Robinhood is acquiring crypto exchange Bitstamp for hundreds of millions of dollars despite receiving a Wells Notice by the U.S. Securities and Exchange Commission (SEC) earlier this year. According to a new press release, Robinhood has agreed to purchase Bitstamp, a prominent crypto exchange platform founded in 2011 that holds over 50 active licenses and registrations globally, for $200 million. As stated by Johann Kerbrat, Robinhood’s general manager of crypto, “The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and long standing global exchange has shown resilience through market cycles.…

A widely followed crypto analyst believes Ethereum (ETH) is heading to new all-time highs (ATHs). Pseudonymous crypto trader Altcoin Sherpa tells his 216,900 followers on the social media platform X that ETH will likely have a massive breakout against Bitcoin (ETH/BTC). However, the trader warns that the 200-week exponential moving average (EMA) continues to act as resistance for the ETH/BTC pair and there may be more downside before a breakout. “ETH: ETH/BTC has underperformed for a while now, interesting to see that the 200-week exponential moving average is still bearish (last time it was bearish like this was March 2021).…

Spot Bitcoin (BTC) exchange-traded funds (ETFs) are on a roll. Data from crypto research platform Soso Value shows that spot Bitcoin ETFs saw their second-biggest day ever on June 4th with a daily total net inflow of  $886.7 million. Its most successful day so far was on March 12th when daily total net inflow hit $1.05 billion. The investment product already has a cumulative total net inflow of $14.85 billion as of June 4th and only saw positive inflows since May 13th. BlackRock’s iShares Bitcoin Trust (IBIT) has the highest inflow since listing with $17 billion, followed by Fidelity Wise…

Bitcoin (BTC) has flashed “glimmers of speculative activity” after consolidating for a couple of months, according to the crypto analytics firm Glassnode. In a new analysis, Glassnode notes that new buyers and investors who have held BTC between six months and three years are holding unrealized profits. “This observation is bolstered by the fact that only 0.03% of the Long-Term Holders are in a position of loss, which is typical of the early euphoric phase of a bull market. Over the last 2-months, the Sell-Side Risk Ratio for both Long and Short-Term Holders has reset and returned to an equilibrium.…

Cryptocurrency analyst and trader Jason Pizzino is offering his thoughts on the potential trajectory for the digital asset market going forward. Pizzino tells his 328,000 YouTube subscribers that the Average True Range indicator is suggesting that “another significant move” is imminent for Bitcoin (BTC) and other crypto assets. The ATR is used to measure the volatility of an asset with higher values indicating higher volatility and lower values indicating lower volatility. According to Pizzino, Bitcoin recently witnessed a relatively small range and this could portend a bullish move ahead. “Basically, we’ve seen one of the smallest days since January. So…