Author: The Daily Hodl

A widely followed on-chain analyst thinks that a big price move is incoming for Bitcoin (BTC) following months of consolidation. Pseudonymous analyst Checkmate tells his 91,900 followers on the social media platform X that a key on-chain metric for Bitcoin suggests it’s almost time for BTC to escape its consolidation phase. According to the analyst, BTC’s sell-side risk ratio for short-term holders is rapidly declining, indicating that sellers are losing ammunition. Checkmate notes that he’s looking at the short-term holder cohort or entities that have been holding BTC for less than 155 days because they are the ones driving near-term…

A popular crypto trader thinks artificial intelligence (AI) altcoins are primed to do well in the latter part of this year despite underperforming in the past couple of weeks. The pseudonymous analyst known as Altcoin Sherpa tells his 216,800 followers on the social media platform X that he’s looking at decentralized graphics processing unit (GPU) rendering blockchain Render (RNDR), AI and machine learning platform Fetch.ai (FET), the decentralized data storage protocol Arweave (AR) and the decentralized information processing protocol RSS3 (RSS3). “The play right now is to just be patient, scale into the ones you like and just wait. We’ve…

Bitwise CIO Matt Hougan says people are underestimating a political shift on crypto currently unfolding in Washington, D.C. In a new memo, Hougan says crypto has successfully built “political muscle” in recent years, including one of the top political action committees in D.C. Hougan says that if everyone truly understood the significance of the recent shift in Washington, crypto markets would already be at all-time highs. “The reason this smells like alpha to me is that, outside of the crypto bubble, no one cares. I’ve been on the road speaking at conferences for the past few weeks and, try though…

Real Vision analyst Jamie Coutts says a key Bitcoin (BTC) indicator is suddenly flashing bullish amid fears of another US banking crisis. The former Bloomberg analyst tells his 18,200 followers on the social media platform X that macro conditions could soon send Bitcoin soaring. “The Federal Deposit Insurance Corporation (FDIC) has reported that 63 US banks are on the brink of insolvent collapse. This is due to banks sitting on $517 billion in unrealized losses. Meanwhile, after some nice coiling pricing action since March, my boring Bitcoin Trend model triggers. DXY down, Yields and Corp Spreads lower. Can you smell…

A closely followed crypto analyst predicts that Dogecoin (DOGE) will suddenly go parabolic as other memecoins are putting up massive gains. Pseudonymous trader Kaleo tells his 641,400 followers on the social media platform X that DOGE could soar more than 220% from its current value against Bitcoin (DOGE/BTC). “The secret about Dogecoin is, it moves sideways for extended periods, followed by rapid, vertical growth. As bullish as I am on Bitcoin, I have an insanely high conviction DOGE will outpace it. We’re in a meme super cycle. The king of memes won’t be left behind.” Looking at his four-hour chart,…

One of the world’s leading financial service providers is teaming up with Austrian fintech company and crypto broker Bitpanda. According to Reuters, Deutsche Bank is partnering with Bitpanda to provide customers with real-time payment solutions for asset transactions. The partnership will begin rolling out exclusively for German customers. “This means that deposits or withdrawals of fiat currencies from Bitpanda will go through Germany’s largest bank. Some banks do not allow customers to transfer funds to crypto exchanges.” Many traditional banks have been exceedingly cautious about dipping their toes into crypto. Deutsche’s global head of cash management Ole Matthiessen says his…

The Managing Partner and the Head of Research at Fundstrat Global Advisors says stocks will be on the rise this month and that institutional investors will push Bitcoin (BTC) to new heights. In a new interview with CNBC, Tom Lee says he’s targeting the $5,500 level for the S&P500 by the end of the month – about a 4.1% move from current prices. “Inflation is coming in softer than expected and I think the job market is cooling, but not weakening dramatically. And I think that’s a good situation for equities. The sell-off in April actually hasn’t really been fully…

Ripple chief executive Brad Garlinghouse is “a little bit skeptical” that landmark crypto legislation will be passed in the US before the presidential election in November. In a new interview with CNBC, Garlinghouse acknowledges that the Biden Administration has been “softening” its rhetoric against crypto, but he still thinks real regulatory developments probably won’t happen until 2025. “As we all have seen, the wheels of legislative progress move slowly and carefully. I’m thrilled by the progress that we’ve made, even in the last three weeks, and I think it may have been the most important two or three weeks in…

A top crypto analyst thinks this week will offer some critical hints about the future direction of Bitcoin (BTC). In a new YouTube video, Benjamin Cowen tells his 802,000 subscribers that the labor market data, which will become public this week, could suggest a possible trajectory for BTC. The U.S. Bureau of Labor Statistics publishes reports on the first Friday of every month that include metrics like average hourly earnings, non-farm employment change and the unemployment rate. The crypto analyst notes that Bitcoin price hesitation leading up to a new month is a “common thing.” “You get that labor market…

An on-chain analyst and trader says crypto exchanges have been witnessing massive Ethereum outflows since the listing approval of spot ETH exchange-traded funds. Ali Martinez tells his 63,500 followers on the social media platform X that market participants have taken out 777,000 ETH worth $3 billion from crypto exchanges since the U.S. Securities and Exchange Commission (SEC) green-lighted spot ETH ETFs last month. At time of writing, Ethereum is trading at $3,776, a fractional decrease in the past day. Turning to fellow layer-1 protocol Toncoin (TON), the analyst says deep-pocketed investors have been busy moving the altcoin. “The number of…