Author: The Daily Hodl

A widely followed crypto analyst says that Bitcoin (BTC) is on the cusp of entering the parabolic phase of the market cycle. In a new strategy session, pseudonymous crypto trader Rekt Capital tells his 474,000 followers on the social media platform X that it appears as if the crypto king is one weekly close away from going parabolic. However, the analyst notes that most likely, it won’t be weeks until the top crypto asset by market cap makes large moves to the upside. “Bitcoin rejects from the range high of its current reaccumulation range. It’s clear that BTC is only…

Russian commodities firms are reportedly using the top stablecoin USDT to execute financial transactions with Chinese companies. Bloomberg, citing “top executives at the companies,” reports that at least two metals producers in Russia use the Tether-issued stablecoin and other crypto assets to facilitate cross-border transactions with clients and suppliers in China. The companies, which are not sanctioned, also reportedly sometimes route settlements through Hong Kong. China didn’t sanction Russian companies in the wake of Russia’s invasion of Ukraine in 2022, but Chinese lenders have still reportedly tightened their compliance measures due to the possibility of secondary sanctions for working with…

Asset management titan BlackRock is amending its spot market Ethereum (ETH) exchange-traded fund (ETF) filing with the U.S. Securities and Exchange Commission (SEC). According to new documents, BlackRock – which has over $10 million in assets under its management – has amended its S-1 filing with the regulatory agency as the approvals process enters its second stage. An S-1 filing, also known as a registration statement, is the mandatory form that all entities must sign and submit before offering new securities products. BlackRock initially filed its S-1 filing in November 2023, but signed the amended one on May 29th. The…

The CEO of Bitcoin (BTC) wallet and payments application Strike, Jack Mallers, believes that the top digital asset could hit seven figures by the end of 2025. In a new interview with Daniela Cambone, Mallers says he thinks the US government will start printing money to pay its record-high $34.577 trillion debt obligations. Because the money printing will debase the currency, he says, investors will start piling into Bitcoin as a safe store of value, sending its price soaring to as high as $1 million by the end of November 2025. “I don’t think Trump or Biden or RFK is…

More US voters are showing an interest in Bitcoin (BTC) and crypto due to geopolitical and economic uncertainty, according to a new Harris Poll survey conducted on behalf of Grayscale. Harris Poll surveyed 1,768 adults in the US between April 30th and May 2nd, after conducting a similar “Phase 1” survey between November 27th and 29th. The market research and analytics company says it weighted data points to bring its respondents in proportion with the country’s population. Grayscale notes the results revealed an uptick in interest in crypto.  “Over the past six months, since Phase 1 of this survey, voters…

The co-founder of blockchain oracle Chainlink (LINK), Sergey Nazarov, is saying that the crypto industry is in the “early to mid-stage” phase of growth. According to Chainlink co-founder, the total crypto market capitalization could soar by nearly four times from the current level. “The crypto industry in my opinion when it crossed $200 billion got on an inescapable inevitable trajectory to be a large global market that would continue to grow. It’s now at over $2.5 trillion in value and I personally think it could get to $10 trillion on the basis of consumer and retail and hedge fund demand.…

Real Vision analyst Jamie Coutts believes the altcoin market is gearing up for a massive breakout against Bitcoin (BTC). The former Bloomberg analyst tells his 18,100 followers on the social media platform X that the altcoin season index, which measures the profitability of digital assets relative to BTC, could soon start flashing bullish for alts. Says Coutts, “Based on where we are in the crypto, presidential and, most importantly, the liquidity cycle, an altseason signal is likely in the coming weeks.” Coutts says that a historic signal of an alt season kicking off is when both the smart contract platform…

A widely followed analyst and trader who accurately predicted the 2018 Bitcoin (BTC) bottom six months prior is expressing bullish sentiment on the 48th-largest crypto asset by market cap. The analyst pseudonymously known as Bluntz tells his 260,300 followers on the social media platform X that FLOKI (FLOKI) is forming an uptrending stair-step pattern on the daily chart. According to Bluntz, FLOKI is poised to reach “escape velocity soon.” In technical analysis, a stair-step pattern consisting of alternating higher highs and higher lows signifies bullishness. A stair-step pattern consisting of lower lows and lower highs suggests bearishness. Stair-step patterns are…

A crypto strategist known for going against crowd sentiment is warning that Dogecoin (DOGE) will likely take a dip even if Bitcoin (BTC) breaks out to new all-time highs. Pseudonymous analyst Credible explains to his 395,500 followers on the social media platform X how DOGE could fall regardless of BTC’s next move. “Right so two main ways something like DOGE would reject and bleed down: 1. BTC rejects and bleeds down.2. BTC prints an absolutely chad of an impulse candle which is so big and strong that the collective attention of the space shifts to BTC for a period of…

Payments giant PayPal says that its stablecoin, PayPalUSD (PYUSD), is expanding onto the blockchain of smart contract platform Solana (SOL). In a new company press release, PayPal says that the dollar-pegged crypto asset PYUSD – which launched in August 2023 in collaboration with the Paxos Trust Company – is now available on Solana, making it cheaper and faster to use. “The Solana blockchain is known for processing massive amounts of transactions at high speeds with extremely low costs, providing significant benefits for commerce use cases. As the most used blockchain for stablecoin transfers, according to data from blockchain analytics platform…