Author: The Daily Hodl
A widely followed crypto strategist believes that the leading altcoin Ethereum (ETH) is close to carving a mid-cycle bottom. In a new video update, pseudonymous analyst Bluntz tells his 264,400 followers on the social media platform X that Ethereum is about to conclude its ABC corrective wave. Bluntz practices the Elliott Wave theory, which states that a consolidating asset tends to witness an ABC correction before igniting a fresh five-wave surge. “Looking at ETH/USD, we’re basically down here at the lows again, but I think it would be very odd if we just moved up from here… I think ultimately…
A prominent analytics firm says Bitcoin (BTC) is about to give off a reading that previously signaled the start of a big rally for the crypto king. Santiment says on the social media platform X that it is keeping a close watch on Bitcoin’s 30-day and 365-day Market Value to Realized Value (MVRV). The MVRV is the ratio of a crypto asset’s market capitalization relative to its realized capitalization or the value of all the coins at the price they were bought. When the MVRV value drops below zero, it indicates that the asset is oversold as traders who bought…
SkyBridge Capital founder Anthony Scaramucci believes that Bitcoin (BTC) will print massive all-time highs (ATHs) in less than six months. In a new CNBC interview, Scaramucci says that Bitcoin could soon break out to six figures following its steep correction into the $50,000 range. Scaramucci predicts Bitcoin’s current correction is only temporary due to such factors as the defunct crypto exchange Mt. Gox settling with creditors and the German government selling coins. “We still love the fundamentals of Bitcoin long-term. And I do think, as I said, it’ll be $170,000 post-halving, but I think you can get to $100,000 by…
A closely followed on-chain analyst says crypto whales are heavily loading up on an altcoin running on the Ethereum (ETH) network. Ali Martinez tells his 66,900 followers on the social media platform X that deep-pocketed investors accumulated tens of millions of dollars worth of the decentralized oracle Chainlink (LINK) in just seven days. “Chainlink whales have snapped up over 6.2 million LINK this past week, totaling approximately $76.88 million!” Last week, Martinez warned that Chainlink appears to have broken down from a head-and-shoulders reversal pattern after it took out support at $12. Traders keep a close watch on charts flashing…
A widely followed crypto analyst thinks Bitcoin (BTC) could be on the verge of stabilizing after a sizeable correction. Pseudonymous crypto trader Rekt Capital tells his 482,500 followers on the social media platform X that BTC is showing positive signs of life after its most recent drop. “Bitcoin is showcasing some initial signs of stability after the crash And in doing so, it is creeping closer to the Downtrend (light blue) This Downtrend will be challenged if the Bullish Divergence plays out.” According to the analyst, BTC’s price breakdown is now showing signs that it’s finding support near the $57,000…
A widely followed crypto analyst is warning that Bitcoin (BTC) could soar to six figures while altcoin projects remain behind in the doldrums. Crypto strategist DonAlt tells his 569,900 followers on the social media platform X that he is bearish on many alt projects. “To be honest, I’m much more pessimistic on alts than I am for BTC. Think you can have a world where BTC trades at $100,000-plus in the coming years while current alts trade 90% lower than they do right now.” He questions the utility of many digital assets besides Bitcoin. “Kind of insane to think about…
Applications for the first Solana (SOL) exchange-traded funds (ETFs) on the Chicago Board Options Exchange (CBOE) have been filed with the U.S. Securities and Exchange Commission (SEC). According to new filings with the Cboe, both VanEck and 21Shares applied for Solana futures ETFs yesterday. VanEck executive Matthew Sigel also confirmed for the Solana ETF filing on the social media platform X. “We at VanEck are pleased to announce that CBOE just filed our 19b-4 to list and trade shares of the FIRST Solana exchange-traded fund in the US! We look forward to engaging with the SEC during the review period.”…
ARK Invest chief executive Cathie Wood believes Bitcoin (BTC) is only halfway through its current bull market cycle. In a new interview with science and tech entrepreneur Peter Diamandis, Wood says that ARK believes that parabolic rallies may signal that the end of the bull market is near. “We have four people at ARK who are working on crypto generally, one dedicated to Bitcoin on-chain analytics. And judging by those, we are, we believe, halfway through this bull market. And halfway doesn’t mean we’re halfway through the price increase, because, you know, at the end of a bull market prices…
A new validator client for the Solana (SOL) blockchain is about to launch a new $1 million bug bounty program this week. Firedancer aims to improve the blockchain’s transaction processing speed, scalability and efficiency and is slated to launch sometime next year. The Solana validator client’s new bug bounty will award up to $1 million worth of the stablecoin USDC to anyone who can unearth bugs on Firedancer v0.1. The program, which will be run with the bug bounty platform Immunefi, is scheduled to start on Wednesday and run until August 21st. The pseudonymous Firedancer engineer known as CantelopePeel also…
The German government is keeping Bitcoin traders on the edge of their seats, relocating thousands of BTC in just one day. The blockchain “de-anonymizing” platform Arkham reports that the German government moved more than 16,000 BTC worth over $915 million in a 24-hour period. Arkham initially spotted the German government shifting hundreds of millions of dollars in BTC to various addresses mostly belonging to crypto exchanges and market makers. “Today, the German Government sent 2,738.7 BTC ($155.3 million) to likely exchanges/market makers including Kraken, Cumberland, 139Po (likely deposit for institutional/over-the-counter service) and address bc1qu.” In an update, Arkham says the…