Author: The Daily Hodl

Russian authorities reportedly plan to prohibit cryptocurrency mining in 10 regions and impose seasonal restrictions in three others beginning January 1, 2025, amid growing concerns over energy shortages. According to a new report from the state-controlled TASS, the complete ban will affect regions including Dagestan, Ingushetia, Kabardino-Balkaria, Karachay-Cherkessia, North Ossetia, Chechnya, and the recently annexed territories of Donetsk, Lugansk, Zaporizhzhia and Kherson. The prohibition is reported to remain in effect until March 15, 2031. In addition, three Siberian regions — Irkutsk, Buryatia and Zabaikalsky — will face seasonal mining restrictions during peak energy consumption periods. These limitations will run from…

The U.S. Department of Justice (DOJ) is charging two California men for allegedly masterminding a multimillion-dollar non-fungible token (NFT) investment scam. In a new press release, the DOJ says it’s charging 23-year-olds Gabriel Hay of Beverly Hills and Gavin Mayo of Thousand Oaks with conspiracy and wire fraud charges after they were accused of pulling multiple crypto rug pull scams involving NFTs. Rug pull scams are when creators of a new asset intentionally inflate its price before selling their stashes, causing the asset to plummet in value and leaving investors holding the bag. According to court documents, between May 2021…

A widely followed crypto analyst is warning that Bitcoin (BTC) may suddenly undergo a massive correction. In a new strategy session, Benjamin Cowen tells his 850,000 YouTube subscribers that the extension from the 20-week simple moving average (SMA) is flashing bearishness for Bitcoin. “If you look at the short-term bubble risk, which is also just the extension from the 20-week moving average, you can kind of see it’s in that range where you can find some of these corrections where Bitcoin comes back down to earth.” The analyst says that a correction could send Bitcoin back to the bull market…

The government of El Salvador raised its daily Bitcoin (BTC) purchase by elevenfold on two separate days in the past week. The Central American country started buying one BTC every day in November 2022, shortly after the crypto exchange FTX imploded. Last Friday, however, El Salvador purchased more than 11 BTC worth $1.07 million, and they executed another 11 BTC purchase on Sunday, per the crypto data platform Arkham. BTC advocate Max Keiser, who works as the “senior Bitcoin advisor” to El Salvador President Nayib Bukele, says Bukele is ramping up buys “with an interim goal of acquiring 20,000 more…

A widely followed analyst is leaning bullish on a decentralized finance (DeFi) token built in the Ethereum (ETH) ecosystem. The analyst pseudonymously known as CredibleCrypto tells his 449,900 followers on the social media platform X that his “highest conviction” bet based on the risk-reward ratio is Curve DAO (CRV). According to CredibleCrypto, CRV could rally by at least 722% from the current level. CRV is trading at $0.852 at time of writing, up by over 70% over the past 30 days. The widely followed analyst says that his bullish thesis for CRV is backed by the tokenomics of the DeFi…

NO BYLINE, THANK YOU Exchange-traded funds (ETFs), governments and MicroStrategy (MSTR) own nearly one-third of all known Bitcoin (BTC) holdings. The 31% of known BTC holdings owned by ETFs, governments and MicroStrategy represents a 14% increase from December 2023, according to Ki Young Ju, the founder and chief executive of the digital asset analytics firm CryptoQuant. “Bitcoin Cap Table Update: ETFs, governments, and MSTR now account for 31% of all known Bitcoin holdings, up from 14% last year.” Young Ju also discussed the importance of MicroStrategy’s BTC holdings. “Different forms of money require distinct gateways. Bitcoiners should recognize MSTR as…

Former Goldman Sachs executive Raoul Pal believes that the crypto market will rally heading into the end of 2024. In a new interview with crypto trader Scott Melker, the macro guru says that based on historic precedence, Bitcoin (BTC) and other digital assets may put up larger gains during the last week and half of December. A rally at this time of year is often referred to as a Santa Claus rally, a financial term used to describe a calendar effect on traditional equities that historically have gone up on the last five market trading days of the year in…

A popular crypto analyst is issuing a warning about Bitcoin as BTC chops around the $90,000 range. The trader Ali Martinez tells his 102,400 followers on the social media platform X that Bitcoin could plummet more than 24% from its current value if it loses one key support range. The crypto analyst looks at the Unspent Transaction Output (UTXO) Realized Price Distribution (URPD) model to determine the key support levels. The UTXO keeps track of the number of existing coins that last moved within a given price range. “The key support zone for Bitcoin now lies between $97,041 and $93,806.…

A widely followed crypto analyst says that Ethereum and altcoins are bracing for a swing to the upside as ETH prints the same pattern it did in 2020. In a new video update, crypto strategist Jason Pizzino tells his 344,000 YouTube subscribers that the Ethereum/Bitcoin (ETH/BTC) pair is flashing a “major altcoin signal.” However, he warns that altcoins still have a bit further to drop before market sentiment turns around and sparks a rally. “ETH/BTC in November got a bounce but again it still has not broken past at least the 4% level and the major level that I’m watching for…

Digital assets manager CoinShares says institutional investors poured hundreds of millions into crypto investment vehicles last week in spite of market-wide sell pressure. In its latest Digital Asset Fund Flows report, CoinShares says that last week, institutional crypto investment products saw net inflows of $308 million. “Digital asset investment products saw a continuation of inflows last week totaling US$308m, although this masks the largest single day of outflows on the 19th December totaling US$576m, with total outflows in the final 2 days of last week at US$1bn.” According to CoinShares, last week’s hawkish Federal Open Market Committee (FOMC) release resulted in…