Author: The Daily Hodl
Options on investment titan BlackRock’s spot Bitcoin (BTC) exchange-traded fund (ETF) debuted on the Nasdaq on Wednesday. In a post on social media platform X, Bloomberg Intelligence ETF analyst James Seyffart says options on BlackRock’s iShares Bitcoin Trust ETF (IBIT) saw nearly $1.9 billion in notional exposure on day one of trading. Option contracts give the holder the right to buy or sell the underlying asset, such as Bitcoin in this case, at a specified price within a given period. According to Seyffart, most of the IBIT trades were call options, which give the holder the right to buy Bitcoin…
A closely followed crypto strategist believes that top memecoin Dogecoin (DOGE) has massive upside potential after a breakout. Analyst Ali Martinez tells his 85,200 followers on the social media platform X that DOGE may continue to surge after printing a bull flag pattern on the four-hour timeframe. In technical analysis, a bull flag is viewed as a continuation pattern, indicating that an asset is consolidating and gearing up for a fresh rally. “Dogecoin is breaking out of a bull flag, which anticipates a 120% rally to $0.82 as long as the $0.37 support holds.” DOGE is trading for $0.3771 at…
A long-dormant Bitcoin whale suddenly moved more than $35 million worth of BTC after sitting on it for nearly 12.5 years. The crypto tracker Whale Alert notes the unknown address moved 400 BTC worth $35.84 million to another unknown wallet on Sunday. The wallet received 400 BTC in June 2012 and didn’t touch it until this weekend, according to data from BitInfoCharts. Bitcoin was trading at $5.45 at the time, meaning the whale saw its holdings rise in value by a staggering 1,644,100%. The long-dormant wallet has received trace amounts of Bitcoin a handful of times over the last 13…
Analyst Benjamin Cowen is leaning bullish on Bitcoin (BTC) while warning that one factor could delay the flagship crypto asset from reaching $100,000 before the end of this year. In an appearance on The David Lin Report, Cowen says that Bitcoin is primed to hit a six-figure price based on historical precedent. “If you go look at like year-to-date return on investment (ROI)… and you average out all the prior halving years, we’re actually tracking it pretty closely. So if you average out 2012, 2016 and 2020 and then you overlay 2024, right now Bitcoin is at its average of…
The popular crypto analyst PlanB believes Bitcoin (BTC) may not see a market correction until after breaking into the six-figure range due to one key metric. The pseudonymous trader tells his 2 million followers on the social media platform X that Bitcoin holders appear to be selling ahead of a possible $100,000 price target. According to the analyst, the Bitcoin profit-taking may actually mean a significant dip at the six-figure target will not occur. “Who sells Bitcoin now? Easy: sellers are profit-takers. On average November sellers sold at more than 60% profit (red) with a cost price of $55,000. I…
A closely followed crypto analyst says that one Solana (SOL) rival may be gearing up for a series of rallies. In a new strategy session, crypto trader Michaël van de Poppe tells his 737,600 followers on the social media platform X that the native token of the layer-1 blockchain Sei (SEI) could soon hit $1 if it can break out of a trading range’s upper bound at $0.52. “Very strong moves on the markets for SEI. Expecting this to break through this resistance zone, and if that’s the case, then I’m assuming we’ll see this one have a run toward…
Market analytics platform Arkham Intelligence is announcing the launch of a new spot trading exchange. In a new thread on the social media platform X, the crypto intelligence firm says it plans to start a new spot trading service in the US, launching as soon as next week. However, Arkham notes that some US users will have to wait until the platform is fully regulated. “Eligibility varies by jurisdiction. Users residing in the United States will be excluded from onboarding until onboarding is legally permitted in their country and state.” According to previous reports, Arkham first announced in October that…
A closely followed crypto strategist believes Bitcoin (BTC) may be repeating a historical pattern that could suddenly send it into the six-figure range. Analyst Ali Martinez tells his 84,100 followers on the social media platform X that Bitcoin may be gearing up for a massive breakout based on what happened in the two prior bull market cycles. “Bitcoin is mirroring the behavior of the last two bull cycles! After surpassing its previous all-time high, BTC has been consolidating for a week. If history repeats, we could see another breakout in the next day or two, targeting ~$150,000, followed by a…
One of Galaxy Digital’s top executives says that the US government may be forced to look at Bitcoin (BTC) as a potential replacement for the US dollar in the future. In a new interview with Bloomberg Television, Galaxy Digital’s head of firmwide research Alex Thorn comments on the potential for the US to launch a Bitcoin strategic reserve (BSR), saying it should be “fairly straightforward.” Thorn notes that virtually all fiat currencies have ultimately failed, making it “reasonable” for the US government to start looking at alternatives. “I don’t know if it’s going to happen, I think the game theory…
One widely followed crypto analyst says that Bitcoin (BTC) is convincingly breaking out and on track to have a series of big rallies after printing a new all-time high Wednesday of about $94,800. Pseudonymous crypto analyst Rekt Capital tells his 505,900 followers on the social media platform X that Bitcoin appears to have entered the most explosive phase of the market cycle based on historical precedence. “The BTC dip is over. The first price discovery uptrend continues.” Crypto traders and analysts refer to price discovery as a situation where a coin trades at levels never seen before or not in…