Author: The Daily Hodl
Two very early Bitcoin owners have suddenly shifted tens of millions of dollars in BTC after more than 10 years of dormancy. Data from the whale-watching bot Whale Alert reported the abrupt awakening of an ancient Bitcoin wallet that moved 1,004 BTC worth $56.92 million after being dormant for 10.6 years. On-chain data shows that the whale initially moved the BTC to an unknown wallet before transferring it to another wallet of unknown origin where the Bitcoin stack currently sits. According to Bitinfocharts, the deep-pocketed investor spent over $1.132 million to accumulate the BTC trove in 2013 and 2014 when…
A veteran trader says he’s hesitant to flip bullish on Bitcoin (BTC) just yet considering the possibility of another November 2018-style crash. In November of 2018, BTC broke down below $6,000 after consolidating in a narrow range for over six months, and while many were eager to buy the dip, Bitcoin didn’t bottom out until it nearly touched $3,000. Pseudonymous trader DonAlt tells his 568,000 followers on the social media platform X that he thinks traders look too eager to be bullish on BTC after Bitcoin took out its psychological support at $60,000. “I personally think people are flipping bullish…
A closely followed crypto analyst is issuing a warning, saying that one popular altcoin could be due for a significant correction. Crypto trader Ali Martinez tells his 66,600 followers on the social media platform X that decentralized oracle provider Chainlink (LINK) could see a massive dip in price after failing to maintain a key support level. “LINK faces a potential 45% price correction if it falls below $12.70!” Based on the trader’s chart, LINK appears to be at risk of breaking down from a head-and-shoulders reversal pattern. In technical analysis, the pattern often indicates the start of an asset’s downtrend.…
The co-founders of crypto market intelligence firm Glassnode say that Bitcoin (BTC) could double up before finding its cycle top. In a new thread, Glassnode co-founders Jan Happel and Yann Allemann – who go by the handle Negentropic – tell their 63,300 followers on the social media platform X that market sentiment appears to be influenced by “half-way jitters” due to the latest crash. However, they say that the correction hasn’t changed their outlook on the crypto king, predicting that BTC will reach a top of $110,000 during this cycle, nearly a 50% increase from its current price. “Is this…
The High Court of the United Kingdom is freezing the assets of computer scientist and businessman Craig Wright, according to new legal documents. The court issued a worldwide freezing order (WFO) upon the request of podcaster Peter McCormack with the aim of recouping his legal fees incurred when Wright sued him for defamation. McCormack tells his 543,000 followers on the social media platform X that the order froze roughly 1.54 million British pounds ($1.9 million) worth of Wright’s assets, which could help him recoup his legal fees. Says Justice James Mellor in his ruling, “Wright was using the law of…
New research from cybersecurity firm SlowMist reveals that the Ethereum (ETH) ecosystem has lost $400 million in exploits year-to-date as the number of crypto hacking cases sees a 50% rise. According to SlowMist’s 2024 mid-year report, the second largest digital asset by market cap saw the most funds lost due to exploits as an ecosystem, followed by layer-2 scaling solutions Arbitrum (ARB) and Blast. “From an ecosystem perspective, Ethereum suffered the highest losses, amounting to $400 million. Followed by, Arbitrum incurred losses of $72.46 million, and Blast suffered losses of $70 million. Additionally, Binance Smart Chain (BSC) experienced the highest…
A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on Bitcoin even after BTC broke the $60,000 psychological level. The analyst pseudonymously known as Credible Crypto tells his 402,400 followers on the social media platform X that he believes the Bitcoin bull market structure remains intact. According to the analyst, Bitcoin is still long-term bullish despite the retracement and BTC may see big rallies after the ongoing correction. But Credible notes that it will take Bitcoin a bit of time before BTC witnesses the beginning of a new uptrend. “Spot buyers don’t have to be too worried here…
Best-selling finance author Robert Kiyosaki says that Bitcoin (BTC) is primed to have its biggest crash yet before enjoying a long-term bull cycle. In a lengthy thread on the social media platform X, the Rich Dad Poor Dad author says that patient investors will be rewarded with a multi-year bull cycle after the top crypto asset by market cap and other assets suffer a massive crash. “Technical charts indicate [the] biggest crash in history coming. Prices of real estate, stocks, bonds, gold, silver, and Bitcoin crash. GREAT NEWS: good time to buy bargains will follow. Technical charts indicate [a] major…
The chief investment officer (CIO) of Bitwise Asset Management, Matt Hougan, is predicting a massive bull cycle for Ethereum (ETH) based on several factors. In a new interview with Scott Melker, Hougan says that spot Ethereum exchange-traded funds (ETF) could draw $15 billion within 18 months of their approval, which is expected soon. “So I think it’s a down-the-middle prediction. We could be higher, we could be a little lower, but I think $15 billion is in the bag.” He also believes two additional bullish factors for ETH could send its value soaring: a greater acceptance of crypto by the…
Cryptocurrency analyst Jason Pizzino is warning that Bitcoin (BTC) is at risk of falling even further if a major support level crumbles. In a new video, Pizzino tells his 330,000 YouTube subscribers that the Bitcoin support level at around $44,600 must hold to avoid a collapse that could see the flagship crypto asset revisiting prices last recorded in early 2023. “Any closes under $44,600 is probably going to be getting very close to a curse. And that curse is basically prices under $40,000… When it goes under $40,000, if you get [monthly] closes under there, longer-term closes like your longer-term…