Author: The Daily Hodl
The crypto exchange Bitfinex says Bitcoin could mount recovery rallies in the coming weeks if three factors flip favorably for BTC. In a new report, Bitfinex says that Bitcoin has witnessed shallower corrections this bull cycle, retracing between 18% and 22% before resuming its uptrend. However, the crypto exchange notes that BTC has already pulled back by about 30% from its all-time high of around $110,000, deviating from the pattern of shallow contractions and more in line with Bitcoin’s historical bull market retracements. “If Bitcoin stabilizes around this level, history suggests a strong recovery could follow.” Bitfinex says that the…
The crypto project backed by BitMEX founder Arthur Hayes is launching a new blockchain with Securitize, a US company geared towards the tokenization of real-world assets (RWAs). In a new announcement, Ethena Labs says it will launch a new Ethereum (ETH) Virtual Machine (EVM) blockchain called Converge within the next three months in partnership with Securitize. The blockchain project will be geared toward both retail and institutional investors. Ethena and Securitize plan to migrate their existing blockchain products onto the Converge blockchain. Says Ethena Labs, “Ethena will focus their institutional product offerings on Converge and seek to migrate their existing…
The U.S. Securities and Exchange Commission (SEC) is officially dropping its lawsuit against Ripple Labs, according to CEO Brad Garlinghouse. In a new video update on the social media platform X, Brad Garlinghouse says that the regulatory agency is dropping its appeal in its lawsuit against the firm, which it originally filed in December 2020 for allegedly selling unregistered securities. “I’m finally able to announce this case has ended – it’s over. Sitting here today and reflecting on four years ago, it seems very clear to me that this case was doomed from the start. In so many ways, it…
The Japanese hotel and investment firm Metaplanet has issued fresh bonds and accumulated an additional 150 Bitcoin (BTC). The new Bitcoin acquisition brings the investment firm’s total holdings to 3,200 BTC. With Bitcoin trading at $81,383 at time of writing, that means Metaplanet currently owns more than $260.4 million worth of the top crypto asset. To buy the new BTC, the firm’s board of directors approved a new series of bonds to raise 2 billion yen. The bonds have a scheduled maturity date of September 17th. Metaplanet chief executive Simon Gerovich notes the new purchase puts the firm in the…
The Trump family-affiliated decentralized finance (DeFi) project World Liberty Financial (WLFI) has completed its second set of token sales. The DeFi protocol sold $250 million worth of its native WLFI tokens following a $300 million sale in October, per a new press release. The project originally said that 63% of all WLFI would be sold to the public, but according to its current whitepaper – or “gold paper”– World Liberty Financial appears to have lowered that to 35%. World Liberty says more than 85,000 total participants underwent a know-your-customer (KYC) process to determine eligibility for the token sales. The DeFi project has invested…
Crypto billionaire Mike Novogratz isn’t a fan of the controversial Trump memecoin. While speaking at Bitcoin Investor Week on Monday, Novogratz argued that the Trump Administration is “categorically good” for the crypto sector. However, he also bemoaned the impact of Official Trump (TRUMP), which launched in January, days before Donald Trump’s presidential inauguration. “Sometimes you got to take the good with the bad. I was at the Vice President’s Ball and the Crypto Ball first, so you saw lots of the crypto Illuminati. And I mean it was a turd in the punchbowl as soon as that thing got launched.…
A closely followed crypto analyst says that Bitcoin (BTC) may suddenly turn bullish based on one key indicator. In a new post, crypto trader Rekt Capital tells his 542,500 followers on the social media platform X that the Relative Strength Index (RSI) – a momentum indicator used to indicate overbought or oversold levels – may soon break out of a downtrend, signaling bullishness for Bitcoin. “Going forward, it will be worth watching this daily RSI downtrend for a breakout in the future. This downtrend has been a resistance on the RSI since November 2024. An RSI downtrend break would likely…
The chief executive of a prominent analytics firm is suddenly turning bearish on Bitcoin, saying BTC has hit a major cycle top. CryptoQuant CEO Ki Young Ju tells his 417,200 followers on the social media platform X that on-chain data suggests that Bitcoin will not print new highs for at least half a year. The analytics firm executive says Bitcoin’s profit and loss (PnL) Index Cyclical Signals, an analytical tool that aggregates several on-chain metrics to identify cycle tops and bottoms, just flashed a signal that potentially marks the end of BTC’s bull market. “Bitcoin bull cycle is over, expecting…
A closely followed crypto analyst and trader is warning that the payments token XRP is at risk of a massive collapse. In a new post, crypto trader Ali Martinez tells his 133,300 followers on the social media platform X that XRP may be forming a bearish head-and-shoulders pattern (H&S) on the daily chart. A head-and-shoulders pattern typically suggests that an asset is losing momentum and could reverse its uptrend if the price breaks below the structure’s support. “XRP is shaping up a head-and-shoulders on the weekly chart. It spotlights the $2 support. Holding it is crucial.” Looking at the trader’s…
Asset management giant Bernstein reportedly thinks shares of top US crypto exchange Coinbase (COIN) are on the verge of a breakout. Gautam Chhugani, Bernstein’s managing director of global digital assets, says Coinbase stock may soar by more than 72% of its current value due to pro-crypto regulatory changes expected from US President Donald Trump and his administration, according to a CNBC report. Bernstein is tagging Coinbase with an “outperform” rating and setting a price target of $310, up from its $180 per share at time of writing. Says Chhugani, “With the Trump Administration’s aspiration to make America the ‘crypto capital…