Author: The Daily Hodl

Seasoned trader Peter Brandt is warning that Bitcoin (BTC) has historically witnessed a massive meltdown after failing to print new record highs for a certain amount of time. The legendary trader tells his 742,500 followers on the social media platform X that BTC is at risk of collapsing after failing to spark sustained rallies for about eight months. “Hey Bitcoiners, are you familiar with the concept of ‘market analogs?’ Here is something to think about. It has been 30 weeks since BTC made an ATH (all-time high). Whenever [BTC] has not made a decisive new ATH within this time length,…

The Ethereum (ETH)-based virtual reality platform Decentraland (MANA) clocked more notable development activity than any other non-fungible token (NFT) project in the past month, according to the crypto analytics firm Santiment. Santiment notes on the social media platform X that Decentraland registered 168.17 notable GitHub events in the past 30 days. Flow (FLOW), a layer-1 permissionless blockchain, ranked second with 119.57 events, and Metaplex (MPLX), a decentralized NFT platform built on Solana (SOL), placed in a distant third with 19.13. Santiment notes that it does not count routine updates and utilizes a “better methodology” to collect data for GitHub events…

Bitcoin (BTC) surged by more than 6% on Friday amid news that the bankrupt crypto exchange Mt. Gox will extend the deadline on its remaining creditor repayments. Mt. Gox started paying back its creditors in July and has “largely completed the Base Repayment, Early Lump-Sum Repayment, and Intermediate Repayment” in the months since, according to a statement published on the bankrupt exchange’s website. “However, many rehabilitation creditors still have not received their repayments because they have not completed the necessary procedures for receiving repayments. Additionally, a considerable number of rehabilitation creditors have not received their repayments due to various reasons,…

A deep-pocketed crypto holder who bought Bitcoin (BTC) more than 12 years ago is suddenly moving the flagship digital asset at a massive profit. On-chain data shows that on Thursday, the previously dormant crypto wallet abruptly moved a Bitcoin stack after recording gains of 994,495%. Says blockchain tracker Whale Alert, “A dormant address containing 100 BTC ($6,017,301) has just been activated after 12.7 years (worth $605 in 2012)!” On Wednesday, an even larger ancient Bitcoin address woke up and relocated a Bitcoin trove at a profit of more than 5,972,915%. Says blockchain tracker Whale Alert, “A dormant address containing 121…

Real Vision’s chief crypto analyst Jamie Coutts is saying that a top Ethereum (ETH) competitor may be on the verge of a massive breakout. Coutts says that the number of active Solana (SOL) addresses has soared by triple digits in percentage terms in the last three months, far more than other smart contract platforms. He believes that SOL’s recent price correction combined with the network’s metrics make it poised for a big move to the upside. “Solana: active addresses exploded by 276%, yet fees dropped 11.3%. Price looks like a coiled spring, primed for a breakout.” He also shares metrics…

Analyst and trader Kevin Svenson is leaning bullish on Bitcoin (BTC) as the flagship crypto asset breaks out from a bullish reversal structure. In a video update, Svenson tells his 79,800 YouTube subscribers that Bitcoin appears to have formed a falling wedge pattern on the four-hour chart. A falling wedge formation is a bullish reversal pattern suggesting that a leg up is in sight amid declining seller momentum. According to Svenson, the completion of the falling wedge pattern could mark a local bottom for Bitcoin. “As long as the stock market remains stable, I think Bitcoin should be near completion…

A cryptocurrency analyst and trader is saying that Ethereum (ETH) is primed to fall to levels last recorded in late 2023. The analyst pseudonymously known as Capo tells his 104,092 Telegram subscribers that Ethereum could fall by over 26% from the current level. “Ethereum has been ranging between $2,000 and $2,800 for two months. It appears to be an accumulation range. However, as mentioned in recent days, it is likely that we will see one final shakeout before an expansion, to $1,800 – $2,000 (the spring phase of the accumulation schematic).” Ethereum is trading at $2,430 at time of writing.…

The U.S. Securities and Exchange Commission (SEC) is suing Chicago-based crypto trading firm Cumberland for allegedly operating as an unregistered securities dealer in transactions involving more than $2 billion worth of crypto assets. The complaint alleges that since March 2018, Cumberland has been buying and selling crypto assets offered and sold as securities as part of its regular business, which violates the registration requirements of federal securities laws. The SEC says Cumberland, which publicly claims to be one of the world’s leading liquidity providers in crypto, trades digital assets with counterparties by phone or through its online trading platform Marea.…

The founder of Tezos (XTZ) and his wife are taking the IRS to court once again over the agency’s treatment of their staked XTZ tokens. In a new complaint filed with a Tennessee Federal court, Josh and Jessica Jarrett contend that newly minted tokens from staking should only be treated as taxable if they are sold. “New property is not taxable income; instead, taxable income arises from the proceeds from the sale of that new property. In all other contexts, the IRS recognizes that new property is not taxable income. When a taxpayer creates new property—whether a farmer’s crop, an…

A widely followed crypto analyst is staying bullish on Bitcoin (BTC) while updating his outlook on layer-1 blockchain Aptos (APT) and one memecoin that has printed massive gains during the last 10 months. In a new strategy session, crypto trader Altcoin Sherpa tells his 224,300 followers on the social media platform X that key metrics are pointing toward an upcoming bull market for the top crypto asset by market cap. “BTC: should be a decent spot for a bounce. Close enough to the .50 [Fibonacci retracement level]. 200-day exponential moving average (EMA) + wick low. Still bullish until shown otherwise.”…