Author: The Daily Hodl

A closely followed crypto analyst says that Bitcoin (BTC) is close to confirming a breakout after repeatedly pushing against tough resistance. Pseudonymous trader Rekt Capital tells his 504,000 followers on the social media platform X that BTC is one daily close away from validating a breakout from a seven-month range. “Bitcoin is once again pressing beyond the very top of the resistance area (red). Bitcoin just needs one Daily Close beyond the red resistance to position itself for a confirmed breakout from here. Daily Close is essential to confirm lack of upside wicks beyond resistance.” At time of writing, BTC…

The U.S. Securities and Exchange Commission (SEC) is greenlighting Bitcoin (BTC) options exchange-traded funds (ETFs) for two major US exchanges. In separate statements, the regulatory agency says it’s approving the bids from the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE) to list options contracts for BTC-based ETFs. According to the SEC, the options ETFs were given the nod because it recently approved a rule change proposal from Nasdaq to list options on the iShares Bitcoin Trust (IBIT), which yielded positive results. “The Exchange notes that this is a competitive filing as the Commission recently approved…

New data from market intelligence firm Santiment hints at a potential correction for popular dog-themed memecoins Dogecoin (DOGE) and Shiba Inu (SHIB). In a new thread on the social media platform X, the crypto analytics platform says that the pair of memecoins have the highest discussion rates they’ve had in five months, signaling that investors may soon shift capital toward other crypto projects. According to Santiment, traders are flocking into DOGE and SHIB due to the fear of missing out (FOMO), which may lead the altcoins to print local tops. “With the crowd anticipating Bitcoin’s $70,000 breach soon, traders are…

A closely followed crypto analyst is warning that Bitcoin (BTC) is not cleared for takeoff despite rallying above $68,000. Crypto strategist Justin Bennett tells his 133,400 followers on the social media platform X that Bitcoin is flashing mixed signals as BTC threatens to surge to new all-time highs. While BTC’s price is rising, Bennett warns that the rally may not be sustainable as it is being fueled by speculators amid weak spot market volume. “People are celebrating a Bitcoin breakout from a seven-month range on a Friday (low volume) before the day or week has even closed, within a rally…

A veteran trader says that it would be unwise to attempt to start calling for a top in the crypto bull market. The pseudonymous trader known as The Flow Horse tells his Telegram channel that based on many charts, including Bitcoin (BTC), Gold futures, and the Nasdaq, there’s a clear bull market underway that could be costly to bet against. “I said this in 2020 I will say it again now, if you are late to the break upward and having trouble entering, just buy and walk away. One weekly strong close through the level and that’s it. The effectiveness…

Bitwise chief investment officer Matt Hougan is unveiling the catalysts that he believes will push Bitcoin (BTC) to $100,000 and beyond. Hougan says on the social media platform X that macroeconomic conditions and on-chain data appear to be suggesting that Bitcoin is poised to spark huge rallies. According to the Bitwise executive, major central banks are adopting loose monetary policies as Bitcoin supply dwindles following this year’s halving event when BTC miner rewards were slashed in half. “We’re heading to six-figure Bitcoin. * ETF flows reaccelerating* Election approaching* Infinite deficits (bipartisan agreement!)* Economic stimulus in China* Global rate cuts (Fed,…

A top cryptocurrency analyst and trader believes Dogecoin (DOGE) could print a new all-time high this cycle. Pseudonymous analyst DonAlt tells his 591,700 followers on the social media platform X that the memecoin may surge more than 624% from its current value. “This is the chart for my thesis. I bought $0.12ish and think it can run to $1 as long as the crypto market doesn’t vanish again. That said I don’t know. You do you, not gonna hand hold anyone if it turns around. It’s a meme inherently useless and valueless, only retards trade this thing.” The analyst says…

A crypto-skeptic US Federal Reserve governor says technology advances associated with decentralized finance (DeFi) could complement its centralized finance counterpart. In a speech earlier this week in Vienna, Austria, Fed Governor Christopher J. Waller said DeFi tech could lead to efficiency gains, though he also stressed the value of centralized financial markets. “It is easy to see how the emergence of these technologies could lead one to think of DeFi as a substitute for centralized finance. For example, the technologies are allowing for individuals to trade assets without giving up control of those assets to an intermediary – a critical…

Asset management titan BlackRock is reportedly in talks with numerous crypto exchange platforms about using its proprietary token BUIDL as collateral for derivatives contracts. According to a new report by Bloomberg, anonymous people familiar with the matter say the world’s largest asset manager is exploring the idea of utilizing BUIDL – the crypto asset related to the firm’s tokenized mutual fund – as collateral for trading derivatives contracts. BUIDL, which launched in March of this year and stands for BlackRock USD Institutional Digital Liquidity Fund, is a tokenized money-market fund designed to offer a stable value of $1 per token…

A widely followed cryptocurrency analyst and trader is outlining the potential path forward for a memecoin that’s exploded by over 9x in days. The analyst pseudonymously known as Altcoin Sherpa tells his 224,800 followers on the social media platform X that the Goatseus Maximus (GOAT) memecoin may consolidate for a while after rising by nearly 860% from its price of $0.045 on October 13th. “GOAT I think a range between $0.20 and $0.40 would be extremely healthy. Still holding this one for a while personally.” According to Altcoin Sherpa, GOAT is likely to reach a market cap of $500 million.…