Author: The Daily Hodl

Cryptocurrency analyst and trader Kevin Svenson is expressing bullish sentiment on Bitcoin (BTC) ahead of the halvening. Svenson tells his 75,000 YouTube subscribers that the Relative Strength Index (RSI) indicator is confirming the end of a bearish trend for Bitcoin on the daily chart. The RSI indicator is a momentum oscillator whose values range from 0 to 100 and is primarily used to determine oversold or overbought conditions in the market. “The daily RSI is now showing a breakout. We have broken the downtrend as well. So this RSI downtrend line breakout lines up with our resistance trend line breakout.…

A widely followed crypto strategist believes that one Ethereum (ETH) rival could have a strong performance this year. Pseudonymous analyst Altcoin Sherpa tells his 214,300 followers on the social media platform X that Fantom (FTM) could soar more than 15% from its current value. “FTM: I think this is still a very solid coin and should do well in 2024 given their treasury. That said, would like to see consolidation for a longer-term bottom forming. Expecting that level to be $0.83 or $0.70. Still bullish and I have a bag.” Looking at his chart, the trader suggests Fantom could dip…

The chief executive of financial giant VanEck reportedly says that the U.S. Securities and Exchange Commission (SEC) will likely reject bids to launch Ethereum (ETH) exchange-traded funds (ETFs). Though many finance institutions had their bids for Bitcoin (BTC) ETFs approved earlier this year, VanEck CEO Jan van Eck told CNBC in an interview that he doesn’t think the regulatory agency will greenlight ETH ETFs. “We were the first to file as well for Ethereum in the U.S., and we and [Ark Invest CEO] Cathy Wood, are kind of the first in line for May, I guess, to probably be rejected……

Widely followed crypto analyst Criptopaul says he thinks a “parabolic” phase is coming to digital assets markets, specifically to altcoins. The trader shares in his Telegram channel a Bitcoin (BTC) chart overlayed with CRYPTOCAP, which measures the value of all assets in the crypto ecosystem excluding BTC. Criptopaul notes how in late 2020, Bitcoin reached its all-time high slightly before altcoins started going parabolic. According to the analyst, a similar pattern may be in play today, with altcoins potentially getting ready to explode following Bitcoin’s recent touch of new all-time highs (ATHs). “Remember that. We are really in this stage.”…

A top analyst known for making timely crypto calls warns that Bitcoin (BTC) may be in the midst of witnessing a painful scenario. Pseudonymous trader Bluntz tells his 254,100 followers on the social media platform X that Bitcoin appears to be flashing an ABC corrective move on the daily chart. Bluntz practices the Elliott Wave theory, which states that a bullish asset typically consolidates within an ABC corrective wave after going through a five-wave uptrend. Says Bluntz, “Max pain on BTC is take out the highs, make everyone FOMO (fear of missing out) back in and think it’s some kind…

Thomas Jordan, chairman of the Swiss National Bank (SNB), reportedly believes that the risks of a retail central bank digital currency (CBDC) outweigh the benefits. While speaking at an event in Zurich, Jordan said the SNB doesn’t think there is a need to roll out a CBDC to the public right now, Reuters reports. “Consumers and businesses already have access to a wide range of efficient and innovative payment instruments offered by the private sector. Retail CBDC could fundamentally alter the current monetary system and the role of central banks and commercial banks, with far-reaching consequences for the financial system.”…

One Solana (SOL)-based altcoin is soaring after landing a surprise listing on Coinbase, the top crypto exchange in the US. In an announcement via the social media platform X, Coinbase says it’s adding Shadow Token (SHDW) to its trading platform. Shadow Token is expected to be available on the platform starting Wednesday, at noon Eastern Standard Time. Amid the listing news on Tuesday, Shadow Token shot up from the day’s low of $1.83 to a high of $2.17, a gain of more than 18%. Shadow Token has since retraced slightly, trading at $1.95 at time of writing, up 7% in…

A Nigerian federal high court has ordered a senior Binance executive to be remanded for over a week at a prison in Abuja, the country’s capital, according to a Premium Times report. The federal high court reportedly issued the order after the head of financial crime compliance at Binance, Tigran Gambaryan, was arraigned on five counts of money laundering. The Binance executive pleaded not guilty. Gambaryan’s bail hearing is scheduled for April 18th, according to the report. Late last month, Nigeria’s Economic and Financial Crimes Commission (EFCC) leveled various charges against Binance, Gambaryan and his colleague Nadeem Anjarwalla, the regional…

The founder and CEO of Galaxy Digital believes looming rate cuts by the Fed are bullish for Bitcoin (BTC) and precious metals. Billionaire Mike Novogratz tells his 466,200 followers on the social media platform X that rate cuts may be bad for the US economy, but good for Bitcoin. He suggests rate cuts will increase liquidity, boosting Bitcoin, and that more investors will view the crypto king as a safe store of value in uncertain economic times. “Call me crazy but I don’t see one good reason for the Fed to cut rates. Yet think they will. It’s a great…

Contrary to popular opinion, BitMEX founder Arthur Hayes thinks the upcoming Bitcoin (BTC) will temporarily dampen the crypto market’s momentum. In a new analysis, Hayes argues that the macro setup is actually favorable for traders interested in shorting the crypto market. However, he notes that he doesn’t plan to short the market himself, just abstaining from trading until next month. “The Bitcoin block reward is forecast to halve on April 20th. This is seen as a bullish catalyst for crypto markets. I agree that it will pump prices in the medium term; however, the price action directly before and after…