Author: The Daily Hodl
Seasoned trader Peter Brandt believes that Bitcoin (BTC) may have entered the most explosive phase of the market cycle after reclaiming the $70,000 range Tuesday. Brandt tells his 745,000 followers on the social media platform X that Bitcoin has suddenly broken through a bearish pattern of lower high and lower low prices on the weekly timeframe as well as the upper bound of an inverted expanding triangle. He suggests that Bitcoin may have started the parabolic phase of the market cycle that has historically occurred every four years after the halving event, when miners’ rewards are cut in half. “The…
Crypto veteran Arthur Hayes thinks upcoming Chinese monetary policy will boost the price of Bitcoin (BTC). Hayes notes in a new analysis that BTC’s price “will soar” as long as fiat money is printed, regardless of who the recipient is. “The rhetoric right now from financial analysts is that the announced Chinese stimulus measures are still not enough to right-size the economy. That is true, but tucked inside the recent announcements are clues that China, directed by President Xi, stands ready to inject the monetary chemo to cure their deflationary cancer. That means that Bitcoin will soar on a secular…
An analyst from one of the biggest asset managers in crypto thinks Bitcoin (BTC) is primed to surge in the coming months. Matthew Sigel, the head of digital assets research at VanEck, says in a new CNBC interview that the election will serve as a major catalyst for the top crypto asset. “The smallest-ever trough-to-peak rally for a Bitcoin cycle was 2,000%. If we do half of that, that would be 1,000%, that would be roughly $180,000.” Last month, Sigel argued that it would be bullish for Bitcoin regardless of which party wins. The VanEck executive thinks both major candidates…
A crypto strategist who continues to build a following with timely altcoin calls believes that one memecoin is poised to witness a big burst to the upside. Pseudonymous analyst Bluntz tells his 289,900 followers on the social media platform X that he thinks the Solana (SOL)-based meme token dogwifhat (WIF) looks ready to ignite huge rallies. Bluntz says that dogwifhat is flashing multiple bullish signals against Solana (WIF/SOL), indicating that the memecoin is gearing up for a big reversal. “SOL is leading the market right now and WIF/SOL is bottoming out. A huge five down on the four-hour [chart] and…
The leading crypto exchange by trading volume is launching a new platform built with high-net-worth clients in mind. According to a new press release, Binance is launching “Binance Wealth,” a platform tailored to wealth managers. “Binance Wealth allows wealth managers to oversee the onboarding of their clients and make investment recommendations, allowing their clients to receive strong support during onboarding and thereafter while retaining full discretionary control, akin to traditional wealth management.” As the name suggests, the new platform will aim to target wealth managers, though it does not set a limit for how much wealth one must manage to…
Tether chief executive Paolo Ardoino is updating the quantity of Bitcoin (BTC) and other assets that the stablecoin issuer currently holds on its balance sheet. In a post on the social media platform X, Ardoino says Tether now holds over 82,000 Bitcoin, a stash worth approximately $5.8 billion at the prevailing BTC price. The stablecoin issuer also owns US Treasuries worth approximately $100 billion and gold weighing over 48 tonnes. Bitcoin is trading at $70,861 at time of writing. In July, Ardoino disclosed that Tether held approximately 80,000 Bitcoin at the end of Q2 2024, translating to an increase of…
The fourth-largest crypto exchange by trading volume is announcing a new partnership with a prominent international banking giant. In a new announcement, OKX says it is collaborating with Standard Chartered with the aim of enhancing custodial solutions for institutional clients. “Today we were pleased to announce that we’ve officially partnered with Standard Chartered, a leading international cross-border bank, as our third-party crypto custodian for institutional clients. This milestone reflects our commitment to security, innovation, and the future of digital assets.” According to the press release, Standard Chartered will act as a third-party custodian for institutional crypto clients at OKX. The…
Bitcoin (BTC) has soared past the $72,000 mark, nearing all-time highs once again with over a quarter of a billion dollars in liquidations taking place in the process. According to crypto exchange data aggregator Coinglass, in the last 24 hours, $265,270,000 worth of positions have been liquidated, the vast majority being short positions on BTC. Binance has seen the most liquidations, followed by OKX and HTX. Bitcoin is now about a 1.5% move to all-time highs. Closely followed trader Dave the Wave tells his 146,000 followers on the social media platform X that Bitcoin’s bull market is likely back in…
Researchers at the venture capital giant Andreessen Horowitz (a16z) estimate there are tens of millions of “real” monthly crypto users. Calculating crypto users can be difficult because people are often incentivized to create multiple public addresses for security or things like airdrop farming, according to a new analysis conducted by Eddy Lazzarin, the chief technology officer (CTO) for a16z Crypto, and Daren Matsuoka, a data scientist at the firm. So even though Andreessen Horowitz measured 220 million unique monthly active addresses in the month of September, that doesn’t mean there are 220 million users, the researchers explain. Using on-chain analytics…
Venture capitalist and crypto veteran Chris Burniske believes Bitcoin (BTC) may be just days away from a massive breakout. Burniske says on the social media platform X that Bitcoin could have an explosive move in November, suggesting that the monthly timeframe chart of the flagship digital asset is turning bullish. “If BTC were to have ‘one of those candles,’ November would be a good candidate month… I mean… c’mon.” Looking at his monthly chart, Bitcoin is trading above multiple simple and exponential moving averages, which have acted as support in prior bull market cycles. In technical analysis, an asset trading…