Author: The Daily Hodl

A widely followed crypto analyst says that one rival of global payments network Stellar (XLM) is primed to skyrocket against Bitcoin (BTC). In a new strategy session, pseudonymous crypto trader Kaleo tells his 643,500 followers on the social media platform X that XRP, the native token of the XRP Ledger, is on the cusp of a breakout against BTC as its legal battle against a prominent US regulator has come to an end. “XRP/BTC. And there’s your squeeze. XRP [vs] SEC case is over. And XRP is finally officially declared not a security.” The U.S. Securities and Exchange Commission (SEC)…

Macroeconomist Alex Krüger doesn’t think crypto is destined to wallow in a long bear market. In a new thread, Krüger tells his 179,000 followers on the social media platform X that digital assets are facing three possible historical scenarios after suddenly plunging in price over the weekend. The first scenario occurred in March 2020, when crypto prices cratered due to the coronavirus but then recovered within two months, kicking off one of the biggest bull runs in the history of the sector. The second was in May 2021, when Bitcoin (BTC) crashed by more than 30% after hitting a new…

The co-founder of software firm MicroStrategy is reportedly disclosing the size of his personal Bitcoin (BTC) stash. According to a new report by Bloomberg, former MicroStrategy CEO and Bitcoin maxi Micheal Saylor says that he owns about $1 billion worth of the top crypto asset by market cap. Though he didn’t disclose the exact amount of BTC he holds, about four years ago, Saylor disclosed on social media that he owned 17,732 Bitcoin and recently told Bloomberg he hasn’t sold a single token out of his bag. Says Saylor to Bloomberg, “I continue to acquire more. I think it’s a…

A deep-pocketed crypto holder who bought troves of Bitcoin (BTC) when the flagship digital asset was still trading for less than $30,000 made its first transaction in over a decade. On-chain data shows that on Wednesday, the previously dormant crypto wallet moved 249.9 Bitcoin worth $13.94 million based on the cryptocurrency’s current price of $55,817. The fee associated with the transaction was 0.0000461 BTC, or $2.57. The transfer is the wallet’s first transaction since 2013. Back then, Bitcoin was worth just $29,245. Says blockchain tracker Whale Alert, which spotted and reported the transfer, “A dormant address containing 250 BTC ($14,075,072…

Widely followed analyst and trader Michaël van de Poppe believes that Ethereum (ETH) could suddenly take off on a massive rally for one main reason. Van de Poppe tells his 722,000 followers on the social media platform X that inflows into the spot ETH exchange-traded funds (ETFs) are exceeding new supply, which he believes is a bullish catalyst. “The ETH supply was created in 2024: $160 million. The net inflow in ETH ETF in the past two days: $150 million. The demand is exceeding the supply.” However, the analyst suggests that ETH’s big rally will likely depend on whether the…

US hedge funds and institutional investors reportedly remain bullish on Bitcoin (BTC) despite a massive selloff in the crypto market this week. According to a new report by Bloomberg, Yevgeniy Feldman, the co-founder of private brokerage firm SwapGlobal, says that blue-chip investors saw an opportunity to buy crypto at lower prices as Bitcoin fell by as much as 17% earlier this week. Says Feldman, “People got extremely liquidated on longs, it was horrific. But the US hedge-fund and institutional participants that trade options via OTC (over-the-counter) desks on Monday and Tuesday restarted making bullish options bets by buying call spreads…

A widely followed crypto analyst says that smart contract platform Solana (SOL) is likely to outperform Bitcoin (BTC) in the short term. In a new strategy session, pseudonymous crypto trader Credible Crypto tells his 408,400 followers on the social media platform X that Solana is “looking pretty strong” when paired against Bitcoin. According to the trader, Solana will record a new local high if it rises above the “cluster of resistance” sitting below the 0.0031 BTC price. Solana is trading for 0.0026791 BTC ($153) at time of writing. However, Credible warns that the Solana/Bitcoin pair could fall by up to…

A closely followed crypto analyst says that one Ethereum (ETH) competitor may retest lower levels within weeks. In a new strategy session, pseudonymous crypto trader Altcoin Sherpa tells his 219,200 followers on the social media platform X that Solana (SOL) could decline at least 14% from its current value. “SOL: $125-$150 remains a good place to accumulate SOL. I still believe this will be one of the best retail chains this cycle and much of the memecoin action is still there. Strong reaction [August 6th] but I still think you get another shot at $125 or lower in a few…

A widely followed analyst is expressing bullish sentiment on Bitcoin (BTC) days after the flagship cryptocurrency fell to a six-month low. The analyst pseudonymously known as Rekt Capital tells his 487,400 followers on the social media platform X that Bitcoin is “still on track for a September breakout.” To achieve that, trader says that Bitcoin needs to get back above the “re-accumulation range low” located at the $60,600 level. Bitcoin is trading at $57,239 at time of writing. According to Rekt Capital, CME gaps have formed in the Bitcoin re-accumulation range that exists between $60,600 and $71,500. A CME gap…

CryptoQuant chief executive Ki Young Ju thinks “something is happening behind the scenes” as permanent holder addresses gobble up Bitcoin (BTC). Young Ju tells his 360,800 followers on the social media platform X that 404,448 Bitcoin have moved to permanent holder addresses over the past 30 days, a clear sign of accumulation. “Within a year, some entities — whether they’re TradFi (traditional finance) institutions, companies, governments, or others — will announce that they’ve acquired Bitcoin in Q3 2024. And retail investors will regret not buying it because they were worried about the German government selling, Mt. Gox, or whatever macroeconomic…