Author: The Daily Hodl
Blockchain tracking firm Lookonchain says one crypto trader generated astronomical returns by betting big on Bitcoin (BTC) and Ethereum (ETH) as President Trump announced a potential US crypto reserve. According to Lookonchain, a crypto whale deposited 6 million USDC to Hyperliquid, a decentralized exchange (DEX) built for perpetual futures trading, to long BTC and ETH using 50x leverage in what turned out to be an extremely well-timed trade. The trader’s position was taken on the same day Trump announced on the social media platform Truth Social that the US will establish a “crypto strategic reserve.” Trump said the reserve will…
The head of the Central Bank of Switzerland is reportedly skeptical about holding Bitcoin (BTC) as a reserve asset. According to a new report from SwissInfo, Swiss National Bank (SNB) President Martin Schlegel is against using BTC as a reserve asset, namely because of volatility, liquidity and security. Schlegel says that digital assets don’t meet the requirements that solid currencies should have. He believes that crypto assets are too volatile to be favorable for long-term investments and too illiquid to be in the bank’s reserves. He also questions the security of the blockchains underpinning crypto assets, saying that they could…
The co-founder and head of research at Fundstrat Global Advisors is revealing his downside price target for Bitcoin (BTC) for the end of the month. In a new interview on the RiskReversal Media YouTube channel, Fundstrat’s Tom Lee warns investors that the top crypto asset by market cap and other top altcoins won’t be immune to market turbulence. According to Lee, the flagship digital asset could lose about 34% of its value by the end of March. While Lee is short-term bearish on BTC, he believes that the big picture is still bullish for the crypto king. “The work by…
Russia’s central bank says that there is growing interest in smart contracts from the country’s banks, businesses and government. In a new speech to the Association of Russian Bank, Elvira Nabiullina, the governor of the Central Bank of Russia, says that a pilot for the digital ruble is “going well.” She says that a group of clients consisting of 1,700 individuals from 15 banks and about 30 companies are participating in the pilot and that an expansion of the program will come at a later date. Nabiullina also mentions that there is growing interest in smart contracts, which is now…
A closely followed economist believes that strong rallies are ahead for Bitcoin (BTC) and crypto as he thinks conditions are ripe for policymakers to turn the money printers back on. Citing data from the Atlanta Federal Reserve, Henrik Zeberg tells his 175,200 followers on the social media platform X that the US GDP is projected to contract by 1.5% in Q1 of 2025. According to Zeberg, the contraction may force Fed Chair Jerome Powell to abruptly pivot and start printing US dollars to shore up the economy. “But…. the economy is strong, right Powell…? The economy is not strong –…
A closely followed crypto analyst says deep-pocketed investors are loading up on the leading smart contract platform Ethereum (ETH). Citing data from crypto analytics firm Santiment, trader Ali Martinez tells his 129,100 followers on the social media platform X that Ethereum whales accumulated over $422 million worth of ETH in just one day. “Whales bought another 190,000 Ethereum ETH in the last 24 hours, shows data from Santiment!” At time of writing, ETH is worth $2,221. Looking at Bitcoin (BTC), Martinez identifies crucial support and resistance levels for the crypto king based on investor cost basis. “The strongest resistance for…
Macro guru and Real Vision chief executive Raoul Pal says it is within the realm of possibility for crypto to witness an extended bull run this cycle. In a new video update, the ex-Goldman Sachs executive tells his 211,000 YouTube subscribers that the second phase of the “Banana Zone” – a term coined by him to refer to a period of rapid and explosive growth for the price of digital assets – will expand into 2026. “But [by] the back end of March, we should start to see price accelerate and then [in] April, May [and] June we should see…
Bitcoin and the crypto market at large are surging as President Trump announces that the US will establish a “crypto strategic reserve.” On Truth Social, Trump says the reserve will include Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA). This announcement triggered a $100 billion surge in the global crypto market, with XRP soaring 37%, SOL 24%, and ADA over 70%, while BTC and ETH rose by 10% and 13%, respectively. Trump framed the reserve as a response to what he called “corrupt attacks” on the crypto industry by the Biden administration, emphasizing his goal to make…
Crypto investor Arthur Cheong says he will be holding on to his Solana (SOL) tokens in anticipation of its price being much higher in the coming months. Cheong, the founder of the crypto investment firm DeFiance Capital, says in a post on the social media platform X that he participated in an over-the-counter (OTC) SOL deal through Galaxy Digital and has collected his unlocked tokens. Even though he’s already up significantly after purchasing at $64, Cheong says he will wait to sell his SOL stack. “Not selling a single one of them. I think it will be substantially higher in…
A veteran crypto trader who has a history of nailing Bitcoin’s market tops and bottoms says that BTC is likely nearing the end of its current correction. Pseudonymous trader and analyst Dave the Wave tells his 148,000 followers on the social media platform X that Bitcoin appears to be strongly reacting to the 365-day simple moving average (SMA). His chart suggests BTC may be about to bottom out at the 365-day SMA for the fourth time since the beginning of the bull market, which would also coincide with the 0.5 Fibonacci level. Traders use the Fibonacci retracement tool to spot…