Author: The Daily Hodl
Cryptocurrency analyst and investor Jason Pizzino is highlighting a critical resistance level that Bitcoin (BTC) needs to overcome to potentially kick off a rally. Pizzino tells his 333,000 YouTube subscribers in a new video that if Bitcoin appreciates by around 6% from the current level, the flagship crypto asset could set up conditions for a larger bullish move. “Provided we start to see some tests and closes above $58,000 in the short term, this could be a nice little early bounce here coming up to test the more important level in my analysis around $61,500, which is the correction 50%…
Crypto analyst Benjamin Cowen is predicting a deeper Ethereum (ETH) correction before the year’s end. In a new interview on the Bankless podcast, Cowen says Ethereum could dip more than 48% of its current value before rallying at the start of 2025. “My base case right now is that ETH/USD, it still stays up here a little bit longer, above $2,000. It goes below $2,000 in Q4 and then, starting next year, it bounces out of that.” Cowen warns that if a recession occurs it would change his outlook. “My hope is that the Fed has not absolutely wrecked the…
Top US-based crypto exchange platform Coinbase is announcing the launch of Coinbase Wrapped Bitcoin (cbBTC), a Bitcoin (BTC)-backed Ethereum (ETH)-based token. In a new thread on the social media platform X, Coinbase says that cbBTC is now onchain and ready, meaning that holders of the top crypto asset by market cap can now access decentralized finance (DeFi) apps on the Base and Ethereum blockchains. According to Coinbase, cbBTC will be available on many prominent DeFi networks, including Aave (AAVE), Curve FInance (CRV), Compound Finance (COMP), Moonwell (WELL), and Maple Finance (MPL). In a new blog post, Coinbase explains how BTC…
A popular crypto analyst thinks three indicators suggest Bitcoin (BTC) is far from its top. The pseudonymous crypto trader known as TechDev shares a graphic with his 468,700 followers on the social media platform X that charts the liquidity cycle, Bitcoin’s Relative Strength Index (RSI) and BTC’s Fisher Transform Indicator. TechDev’s first chart displays a line for Bitcoin’s price and a line that pits the Chinese 10-year bonds (CN10Y) against M2SL, the seasonally adjusted measure of money supply in the United States. Based on the trader’s chart, he appears to suggest that an expansion in the CN10Y against M2SL could…
The head of digital assets research at exchange-traded fund (ETF) provider VanEck says that Bitcoin (BTC) and one or two layer-1 blockchains will outperform the market. In a new interview on the Bitcoin Macro YouTube channel, VanEck executive Matthew Sigel says that in the long run, the economic value of the digital assets industry will overwhelmingly consist of just a few layer-1 networks. According to Sigel, once this happens, traders will turn to investing into decentralized applications (DApps) and DePIN (decentralized physical infrastructure networks) technology. “One to three kinds of layer-1 blockchains are likely to take 99% of the economic…
The top U.S. securities regulator has reached a settlement with the trading app eToro severely limiting the platform’s crypto trading abilities. According to the U.S. Securities and Exchange Commission (SEC), eToro has agreed to pay $1.5 million in penalties and limit its crypto trading options to Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH) without admitting to or denying charges of operating as an unregistered crypto broker and clearing agency since 2020. The SEC contends that eToro allowed customers to trade cryptos as securities on the app without following the proper registration processes. eToro customers holding crypto on the app…
A widely followed crypto analyst is warning that Bitcoin’s (BTC) historical cycle pattern may soon come to an end. In a new strategy session, crypto trader Justin Bennett tells his 111,300 followers on the social media platform X that Bitcoin’s traditional four-year cycle could change if the business cycle contracts. According to Bennett, Bitcoin’s cycles have been correlated to the performance of the overall macroeconomy. “Since its inception, Bitcoin has followed mostly perfect three to four-year cycles: one to two years of a bear market followed by one to two years of a bull market. But that won’t last! Bitcoin…
Two prominent payment platforms are offering their support for Ethereum Name Service (ENS) domains. In a new thread on the social media platform X, payment giants PayPal and Venmo are now supporting the ENS domain naming service, which allows users to forgo having to use complicated crypto wallet addresses and instead adopt a representative username. “How does it work? Simply enter your ENS name when sending crypto on PayPal or Venmo, and the platform will automatically resolve it to the correct wallet address. No more copying and pasting long addresses – just seamless, user-friendly transactions.” According to the service, there…
A widely followed cryptocurrency analyst and trader is saying that Bitcoin (BTC) is set for a bullish phase once September comes to a close. The analyst pseudonymously known as Rekt Capital tells his 501,200 followers on the social media platform X that the fourth quarter could be bullish for Bitcoin. “You just need to survive September. Because if history repeats, Bitcoin may be heading for three straight months (October, November and December) of positive upside monthly returns.” Bitcoin is trading at $56,810 at time of writing. According to the pseudonymous analyst, Bitcoin has enjoyed an average return of 22.9% in…
A widely followed crypto analyst is predicting one Ethereum (ETH) competitor is gearing up for a massive breakout. Crypto trader Michaël van de Poppe tells his 725,300 followers on the social media platform X that NEAR Protocol (NEAR) could soar 275% from its current value within six months. “The markets are shaping up for a reversal. NEAR has retested a crucial area for support and seems likely to hold from here. As long as $2.75-$3.40 holds, I assume we’ll see $15 in the next three to six months.” NEAR is trading for $4 at time of writing, down 1.3% in…