Author: The Daily Hodl
Macro investor and fund manager Dan Tapiero says he remains long-term bullish on Bitcoin (BTC) amid a correction that has seen the flagship crypto asset fall by around 24% from the all-time high recorded in January. In a new interview on the Wolf of All Streets YouTube channel, Tapiero says that Bitcoin could appreciate by around 117% from the current level after a period of trading sideways. “I always expected us to spend months consolidating around $100,000. I think we’re going to chop up back and forth between $70,000 and $100,000 to digest all this news. And at some point,…
South Korea’s central bank reportedly has no plans to include Bitcoin (BTC) in its foreign exchange reserves. The Bank of Korea said “a cautious approach is needed” when it comes to Bitcoin, citing the top crypto asset’s price volatility, per a new report from The Korea Herald, a South Korean news outlet. “In the case of cryptocurrency market instability, transaction costs to cash out Bitcoins could rise drastically.” The Bank of Korea adds that Bitcoin and other crypto assets fail to satisfy the foreign exchange reserve requirements set by the International Monetary Fund (IMF) due to their relatively low liquidity,…
The crypto exchange OKX has decided to “temporarily suspend” its decentralized exchange (DEX) aggregator after consulting with regulators. Traders use data from DEX aggregators to find the best-priced trades across various decentralized exchanges. OKX’s aggregator has recently come under scrutiny. Last month, hackers stole a staggering $1.4 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) from the crypto exchange Bybit. Pseudonymous on-chain investigator ZachXBT linked the exploit to the Lazarus Group, an infamous North Korean cybercriminal outfit. Earlier this month, Ben Zhao, Bybit’s chief executive, said $100 million worth of the stolen ETH was moved through OKX’s web3 proxy.…
A crypto whale with a history of profitable trades has managed to come out on top after opening a massive short position on Bitcoin (BTC). Blockchain analytics firm Lookonchain says a deep-pocketed trader built a 3,940 BTC short position worth $332 million by ramping up leverage to 40x. Short-selling is the act of borrowing an asset from an exchange or broker to sell it in hopes of buying back lower to pocket the difference. According to Lookonchain, the whale initially witnessed unrealized losses to the tune of more than $1 million. “Entry price: $84,040.8Liquidation price: $85,300.” On top of choppy…
A popular crypto analyst is warning that Bitcoin (BTC) may be repeating a similar 2019 bearish pattern for one key reason. In a new YouTube video, Benjamin Cowen tells his 887,000 subscribers that a historic correlation between Bitcoin and Fed monetary policy suggests the flagship crypto asset may struggle to reclaim the bull market support band, as it did in 2019. The bull market support band is formed by the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA). “I think the reason why that 2019 comparison comes back to haunt Bitcoin fairly frequently is because of…
A crypto strategist who nailed Bitcoin’s 2022 bear market bottom says two things must happen for BTC to regain strong bullish momentum. In a strategy session, pseudonymous analyst DonAlt tells his 66,100 YouTube subscribers that Bitcoin bulls must reclaim a key price area as support to rein in the selling pressure. He also says that US President Donald Trump needs to stop making statements such as tariff threats to China, Canada and Mexico that drive the stock market to lower levels. “If we come back to $90,000, flip it [into support] on the daily time frame or the weekly or…
A widely followed crypto analyst is predicting higher prices for crypto assets as he expects the Federal Reserve to end its anti-inflation monetary policies. In a new thread, the pseudonymous crypto analyst Pentoshi tells his 861,300 followers on the social media platform X that we are close to seeing the end of quantitative tightening (QT), which are policies that reduce the Fed’s balance sheet and lowers the supply of money in circulation. The trader cites data from the decentralized prediction platform Polymarket, which shows that 100% of users believe that the Fed will end QT by May of this year.…
Crypto asset management giant CoinShares says institutional investors pulled billions of dollars out of crypto last week. In its latest Digital Asset Fund Flows Weekly Report, CoinShares says crypto products are enduring their worst run of investor outflows in a decade. “Digital asset investment products saw a 5th consecutive week of outflows, totaling US$1.7bn, bringing the total outflows over this negative funk to US$6.4bn. This also marks the 17th straight day of outflows, the longest negative streak since our records began in 2015. Despite prevailing negative sentiment, year-to-date inflows remain positive at US$912m. Following this price correction and sustained outflows,…
A closely followed analyst believes Bitcoin (BTC) and altcoins are about to ignite massive rallies and leave paper-handed investors on the sidelines. Pseudonymous analyst TechDev tells his 516,300 followers on the social media platform X that Bitcoin and altcoins appear to be flashing a technical setup that preceded steep rallies during the 2017 and 2021 bull cycles. The trader shares a chart suggesting that Bitcoin looks poised to shatter the top boundary of its weekly Bollinger Bands as BTC recovers from a 2025 low of $76,000. The Bollinger Bands are a volatility indicator that can signal a bullish breakout if…
Robinhood trading app is introducing a new prediction markets hub, expanding its financial services portfolio. Developed in partnership with regulated exchange Kalshi Inc. – also a prediction market service – the new platform enables users to trade contracts based on real-world outcomes across sports, politics, and economic indicators. Says J.B. Mackenzie, Robinhood’s Vice President and General Manager of Futures and International, of the new Polymarket-competing feature, “We believe in the power of prediction markets and think they play an important role at the intersection of news, economics, politics, sports, and culture. We’re excited to offer our customers a new way…