Author: The Daily Hodl
A cryptocurrency analyst and trader is saying Bitcoin (BTC) may have reached a market bottom after correcting down into the high $50,000 range. The analyst pseudonymously known as Rekt Capital tells his 74,900 YouTube subscribers that Bitcoin’s latest correction is the cycle’s deepest, suggesting a further decline is unlikely. “This single corrective period is now the deepest corrective period in this cycle to date. It has eclipsed the 23% corrective period that we saw in early 2023. This is now deeper than that. This is getting to even minus 24% territory. So, we now know this is the deepest retrace…
A closely followed cryptocurrency analyst and trader is expressing bullish sentiment on a top-10 altcoin by market capitalization. The analyst pseudonymously known as DonAlt tells 59,100 subscribers of the TechnicalRoundup YouTube channel that the price action of BNB, the native token of the BNB Chain, is currently signaling massive upside potential. “I like BNB… I like the BNB chart. This is BNB/USD [chart], it’s basically begging to break out. I think a dip on this would just be a buy.” BNB is trading at $561 at time of writing. According to the pseudonymous analyst, the fourth-largest crypto asset by market…
Cryptocurrency analyst and trader Ali Martinez is saying that the price of Dogecoin (DOGE) is exhibiting behavior it has previously displayed before embarking on massive rallies. Martinez tells his 61,200 followers on the social media platform X that the largest memecoin by market cap earlier this year broke out of a descending triangle, which is considered bullish if the price breaks out above the upper trend line, on the weekly chart. “It is currently undergoing a 47% price correction, very similar to previous cycles, which could ignite the next DOGE bull run!” According to Martinez, Dogecoin exhibited similar price behavior…
A closely followed crypto strategist is warning that Bitcoin (BTC) may not yet be done correcting. Pseudonymous analyst Altcoin Sherpa tells his 215,800 followers on the social media platform X that only after Bitcoin reclaims the $60,000 level will he have more confidence a bullish reversal is occurring. “BTC: don’t think we’re out of the woods at all yet. We still need to reclaim some levels. [May 2nd’s] altcoin action is nice but I would not go all in at these current levels. Wait for BTC to show more strength first and break $60,000+ in my opinion.” The analyst also…
Popular trader and economist Alex Krüger says he’s currently “max long” on the crypto market. Krüger tells his 173,800 followers on the social media platform X that he’s hedged and unhedged multiple times but he’s now max long in “very concentrated positions.” The economist notes that he’s looking to “de-risk” soon. However, he acknowledges that Bitcoin (BTC) could drop as low as $52,000 after plunging below $59,000. BTC is trading at $57,093 at time of writing and is down more than 4.5% in the past 24 hours. Explains Krüger, “I’m not immune to bear raids. My bigger picture view has…
A prominent layer-2 scaling solution for the meme asset Dogecoin (DOGE) is announcing that it is going to be shutting down its wallet services next month. In a new thread on the social media platform X, Mishaboar, one of Dogecoin’s developers, tells investors to make sure they move their DOGE out of the Dogechain wallet before it shuts down on June 1st as well as keep a copy of their wallet’s private keys. “Make sure to move your DOGE out of http://dogechain.info (only use the .info domain!) before June 1st. Keeping a copy of Dogechain’s wallets’ private keys is also…
After a week of falling prices for crypto led by Bitcoin (BTC), a widely-followed analyst says the bottom is nearly in. Crypto trader Michaël van de Poppe warns his 715,600 followers on the social media platform X that it could still take some time for BTC to recover from falling nearly 7% in the last two weeks. “It’s going to take a while for Bitcoin. However, most of the downside is done. There might be another 5-10% correction, but from here, altcoins are going to take over until Bitcoin breaks the all-time high.” BTC is worth $59,290 at time of writing, up 4% in the last…
Binance founder and former CEO Changpeng Zhao is undeterred from investing in crypto despite receiving a prison sentence for US law violations at the world’s largest digital asset exchange. In a statement on social media platform X, Zhao tells his followers what his plans are following his sentencing on Tuesday. “I would like to thank everyone for your care and support, be it writing letters, showing support on X, or in any other form. They all mean a lot to me and keep me strong. I will do my time, conclude this phase and focus on the next chapter of…
New data reveals that one of the biggest banks in the world is acquiring shares of asset manager BlackRock’s spot market Bitcoin (BTC) exchange-traded fund (ETF). In a new filing with the U.S. Securities and Exchange Commission (SEC), France-based BNB Paribas – the ninth-largest bank in the world – purchased 1,030 shares of the iShares Bitcoin Trust (IBIT) for a total of $41,684. According to the filing, the global banking institutions’ investment into IBIT is down just under 20% since it was bought at the end of March. “BNB Paribas filed a 13F-HR form disclosing ownership of 1,030 shares of…
Top decentralized exchange (DEX) Uniswap (UNI) now allows its mobile app users to buy crypto using their funds on popular trading platform Robinhood. In a new statement, Uniswap says the new funding method is currently available to US-based users through Robinhood Connect, a feature that enables customers of the brokerage firm to fund their Web3 wallets without leaving decentralized applications (DApps). “Users of the Uniswap mobile app can now buy crypto with a debit card, via bank transfer, or directly from their Robinhood balance using Robinhood Connect (available only for users in the United States). Robinhood Connect is the latest…