Author: The Daily Hodl

A popular crypto analyst thinks historical trends indicate Bitcoin (BTC) could be on the verge of a breakout. The pseudonymous trader known as Rekt Capital tells his 501,400 followers on the social media platform X that BTC has historically broken out from its re-accumulation range 154-161 days after its halvings. “It is 157 days after the halving now. History suggests it is ‘Breakout Time’ for Bitcoin.” The analyst says historical patterns suggest BTC will now transition into its “Parabolic Upside phase.” Rekt also notes that standard halving cycles indicate the current Bitcoin cycle is only 44.8% of the way through…

A closely followed analyst and trader thinks that altcoins are gearing up to have their time under the sun and outperform Bitcoin (BTC). Crypto strategist Ali Martinez tells his 72,200 followers on the social media platform X that he’s keeping a close watch on the TOTAL3 chart, which tracks the market cap of all digital assets excluding Bitcoin, Ethereum (ETH) and stablecoins. The trader shares a chart suggesting that TOTAL is about to witness a big burst to the upside. “The altcoin market cap looks primed to surpass $1 trillion… It is just a matter of time before altcoin season!” …

A leading US-based crypto exchange is establishing its European footprint by acquiring the Dutch crypto broker Coin Meester B.V. (BCM). In a new press release, Kraken says it has closed on a deal with BCM that will “strengthen” the crypto exchange’s presence in Europe. “With the acquisition of BCM, one of the Netherlands’ oldest and most respected registered crypto brokers, we have significantly expanded our Dutch footprint and enhanced our business with a registered Virtual Asset Service Provider (VASP) in France and Poland.” In February of this year, Kraken announced it had obtained its VASP (Virtual Asset Service Provider) registration…

The research arm of a top crypto exchange is warning traders to keep an eye on open interest (OI) while trading altcoins. In its latest Alpha research findings, Bitfinex says that a drop off in OI has helped many altcoins, like SUI and AAVE, rally tremendously. “We believe that a risk-on sentiment and the ability to move altcoins quite easily due to the reduction in altcoin OI is partly responsible for altcoins like SUI and AAVE being up 100 percent since their respective lows in August and September. The concerning development in the altcoin market however is that OI has…

An original Ethereum investor has suddenly moved millions of dollars of ETH after remaining inactive for years, according to blockchain tracking firm Lookonchain. Lookonchain notes that the whale participated in Ethereum’s 2014 initial coin offering (ICO) when they received 150,000 ETH at the Genesis block. According to the blockchain tracking firm, the initial investment that cost just $46,500 is valued today at about $389.7 million – translating to an increase of 837,964%. The holder just woke up after more than two years of dormancy to send 3,510 ETH, valued at $9.12 million, to the Kraken crypto exchange, where the crypto…

Quant analyst PlanB believes that Bitcoin (BTC) is on the verge of having an explosive 2020-style breakout to new highs. PlanB tells his 1.9 million followers on the social media platform X that Bitcoin has been consolidating near $60,000 range similar to how it did near $10,000 in 2020. “$60,000 is the new $10,000. [It’s] a matter of time before it explodes upwards in my opinion.” The analyst shares a chart of the realized price metric, which records the value of all coins in a current time frame at the price they were last transacted on-chain, divided by the number…

Arthur Hayes’ family office fund has unloaded a huge chunk of its position in the decentralized finance (DeFi) altcoin Pendle (PENDLE). Hayes sold 1.59 million PENDLE for $5.62 million at an average price of $3.52 over a two-day period, resulting in a loss of $1.29 million, according to the crypto tracker Lookonchain. Lookonchain also notes that the price of PENDLE surged by 24% after his sell-off. Less than two weeks ago, Hayes, who has served as an advisor to Pendle, predicted on the social media platform X that the asset would surge to $10. On Saturday, the BitMEX co-founder acknowledged…

The bankrupt crypto lending firm Genesis has potentially begun to move millions of dollars worth of Ethereum (ETH). Data from the digital asset deanonymizing platform Arkham shows that a crypto wallet collected 114,503 ETH worth nearly $360 million from an address belonging to Genesis Trading: Bankruptcy Distribution. According to Arkham, the receiving wallet may also belong to Genesis but the blockchain tracking firm gave it a “lower confidence prediction” tag. On Sunday, the address in question sent 5,000 ETH worth nearly $13 million to a deposit address for the institutional crypto prime brokerage FalconX. The wallet still holds $424.74 million…

A crypto strategist who continues to grow his following with timely altcoin predictions believes layer-1 protocol Sui (SUI) is gearing up to revisit all-time high levels. Pseudonymous analyst Bluntz tells his 275,500 followers on the social media platform X that SUI’s huge rally last week suggests that the Solana (SOL) killer is en route to record-high prices. “SUI weekly absolutely insane, at this rate it’ll hit all-time high before BTC.” The trader also says he believes “SUI is the next SOL.” Last week, Bluntz said that SUI is in a technical uptrend after printing higher highs and higher lows on…

Bitwise executive Jeff Park thinks “things will likely get wild” now that the U.S. Securities and Exchange Commission (SEC) has approved options on BlackRock’s Bitcoin (BTC) exchange-traded fund (ETF). Last week, the SEC greenlit accelerated approval for the listing and trading of options on the iShares Bitcoin Trust (IBIT), BlackRock’s ETF. Park, Bitwise’s head of alpha strategies, says the approval “marks the most monumental advancement possible for the crypto market.” The executive notes that options will unlock synthetic flows with leverage for BTC. He also says Bitcoin has unique volatility characteristics, including a “volatility smile.” “Bitcoin is unique because melt-ups…