Author: The Daily Hodl
The chief executive of stablecoin issuer Circle says that the US crypto industry is looking for a clear statement from presidential candidate Kamala Harris on her stance on digital assets. In a new interview with CNBC Television, Circle CEO Jeremy Allaire says that the digital assets industry is looking for Harris, who became the Democratic nominee for the 2024 presidential election last month, to clearly announce her stance on crypto assets. “There is a concerted effort, both from the Administration and the Harris campaign, to really get to know the issues, the players, the industry, the policies, etc. I think…
A closely followed crypto analyst says that Bitcoin (BTC) may be forming a bullish pattern, setting up a massive breakout. In a new strategy session, crypto trader Ali Martinez tells his 69,300 followers on the social media platform X that Bitcoin could soon soar more than 7% from its current value in the short term. “In shorter time frames, Bitcoin might form a bull pennant, hinting at a potential surge toward $64,000!” Bitcoin is trading for $59,655 at time of writing, up slightly in the last 24 hours. Next up, the trader warns that Ethereum (ETH) competitor Solana (SOL) may…
A widely followed crypto analyst is laying out a scenario where Bitcoin (BTC) could dip back down below $50,000. In a new strategy session, crypto trader Michaël van de Poppe tells his 723,000 followers on the social media platform X that the crypto king could crash to $48,000 if its current support level falls apart due to a negative Consumer Price Index (CPI). However, he also notes it’s possible for BTC to go the other way and hit fresh all-time highs if it breaks above resistance. “The question for Bitcoin is which side it will take. Primarily above $56,000, the…
New filings reveal that financial services titan Goldman Sachs is holding hundreds of millions of dollars worth of spot market Bitcoin (BTC) exchange-traded fund (ETF) holdings. According to new Form 13F filings submitted to the U.S. Securities and Exchange Commission (SEC), banking giant Goldman Sachs holds $418 million worth of BTC ETF shares. Other blue-chip investors also disclosed their BTC ETF holdings. Institutional investors such as BlackRock, Bitwise, ARK Invest, Invesco, WisdomTree, Grayscale and Fidelity also were found to be holding widely differing dollar amounts. While BlackRock, a firm with over $10 trillion with assets under its management, holds about…
Bitcoin mining firm Marathon (MARA) is unveiling a plan to spend hundreds of millions of dollars to bolster its BTC stockpile. In a new press release, Marathon says it intends to privately offer $250 million worth of convertible senior notes due in September 2031 to “persons reasonably believed to be qualified institutional buyers.” “The notes will be unsecured, senior obligations of MARA and will bear interest payable semi-annually in arrears on March 1 and September 1 of each year, beginning on March 1, 2025… The notes will be convertible into cash, shares of MARA’s common stock, or a combination of…
Ex-Goldman Sachs executive Raoul Pal is predicting that artificial intelligence (AI) agents will one day use crypto assets to transact with each other. In a new video update, the Real Vision CEO says that in the not-so-distant future, AI agents are probably going to use digital assets to pay for things like electricity, with the transactions remaining outside of traditional finance systems. “AI agents are coming into the world. An AI agent is like you going to Fiverr and hiring somebody to build your website and hiring someone to do your marketing strategy and all of those kind of things.…
Spot Bitcoin (BTC) exchange-traded funds have witnessed more than $19.3 billion of net inflows this year, according to Eric Balchunas, a Bloomberg ETF analyst. Balchunas tells his 319,100 followers on the social media platform X that the number is “surprisingly strong” and argues that it is the most important bellwether of success given Grayscale’s GBTC unlock and net price movement. Balchunas also notes US ETFs are on pace to pace Satoshi Nakamoto, Bitcoin’s pseudonymous creator, as the top holders of BTC. “BlackRock alone is already #3 and on pace to be #1 late next year, and will likely stay there…
Popular crypto analyst Benjamin Cowen thinks macroeconomic indicators suggest altcoins will chip away against Bitcoin’s (BTC) dominance in the coming months. In a new YouTube video, Cowen points his 807,000 subscribers to the Sahm Rule Recession Indicator, which tracks signals that could indicate the start of a recession. The indicator flashes when “the three-month moving average of the national unemployment rate (U3) rises by 0.50 percentage points or more relative to its low during the previous 12 months,” according to the Federal Reserve Bank of St. Louis. The indicator hit 0.53 percentage points in July. Explains Cowen, “The point is…
A closely followed crypto analyst says that Bitcoin (BTC) could suddenly plummet in value if one key level is lost as support. In a new video update, crypto strategist Jason Pizzino tells his 332,000 YouTube subscribers that if Bitcoin falls below $53,500, there is cause for concern that the crypto king may be flipping bearish. “We’re still in a slightly stronger stance to then test the 50% level again [at $61,422]… Is it going to be the bulls that take control, get above 50%? Or is it going to be the bears that take control and reject 50% again to…
The chief crypto analyst at Real Vision says the global money supply (M2) metric is showing a “perfect” scenario for Bitcoin (BTC). Jamie Coutts says on the social media platform X that a historical relationship between Bitcoin and M2 suggests that the flagship cryptocurrency is in the midst of a consolidation phase while an increase in the money supply sets the stage for BTC’s next leg up. “Over the past decade, Bitcoin has had a tendency to trough several months before the bottom in global M2. Then it rips, gets way ahead of the move in liquidity, and has a…