Author: The Daily Hodl
Fundstrat chief investment officer Tom Lee says Bitcoin’s (BTC) recent strength is foreshadowing future rallies in another asset. In a new interview on CNBC, Lee says that BTC’s strong rallies over the last quarter are a sign that investors have a high-risk appetite and that future rallies in the S&P 500 are to be expected. “It’s really telling us investors are pro-risk. I do think it also just signals how much capital has been idle for the last couple of years, either parked in money market cash or waiting to see if the economy survives. So I think Bitcoin rising…
Digital assets markets started off the week in the red after Bitcoin (BTC) lost the $100,000 level and fell to $97,470, dragging most altcoins into corrections as well. According to crypto data aggregator CoinGlass, there have been over $567 million in liquidations in the last 24 hours, most of them leveraged long positions in Bitcoin. Closely followed analyst Rekt Capital tells his 519,000 followers on the social media platform X that the correction in altcoins has happened at a key point of resistance in the OTHERS chart, which tracks the total market of digital assets excluding the top 10 and…
A new Ethereum (ETH)-based layer-2 project is debuting with a fully diluted value (FDV) of more than $7.7 billion amid support from leading crypto exchanges. According to a new announcement, top crypto exchange Binance is supporting Movement (MOVE) through its airdrop portal. After the airdrop, MOVE will be available to trade in the MOVE/BTC, MOVE/USDT, MOVE/BNB, MOVE/FDUSD and MOVE/TRY trading pairs. Binance is attaching a seed tag to MOVE, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens. Binance requires users who own assets with seed tags to pass quizzes every 90…
The U.S. Treasury Department is acknowledging the benefits of asset tokenization and comparing Bitcoin (BTC) to gold. In a new report, the Treasury Department calls the top crypto by market cap a store-of-value asset boosted by speculators. “The use case of digital assets continues to evolve, but interest has proceeded along two main tracks. Primary use case for Bitcoin seems to be a store of value also known as ‘digital gold’ in a decentralized finance (DeFi) world; speculative interest seems to have played a prominent role in the growth of digital tokens thus far.” According to the Treasury Department, real-world…
Digital assets manager CoinShares says institutional investors poured a record $3.85 billion into crypto investment vehicles last week. In its latest Digital Asset Fund Flows report, CoinShares says that institutional crypto investment products saw a record in net inflows that brought yearly flows to $41 billion last week, also a new record. “Digital asset investment products saw the largest weekly inflows on record last week totaling US$3.85bn, smashing the prior record set just a few weeks ago. This has pushed total inflows year-to-date (YTD) to US$41bn and total assets under management (AuM) to a new high of US$165bn — prior cycle…
Samuel Armes, a political strategist and president of the Florida Blockchain Business Association (FBBA), says the Sunshine State is looking to launch a strategic Bitcoin (BTC) reserve. In a post on social media platform X, Armes says Florida will likely create its own stockpile of the leading crypto asset amid support from pro-Bitcoin leaders. “Florida has a very good chance of creating a strategic Bitcoin reserve this session, which starts in Q1 of 2025.” Armes says Florida can build its crypto reserve by using a small portion of the state’s pension fund, which already invests in Bitcoin and crypto-related assets. …
New data from blockchain analytics firm Akham reveals that asset management titan BlackRock has gone on an aggressive Bitcoin (BTC) accumulation spree. In a new thread on the social media platform X, Arkham says that BlackRock – which has over $10 trillion in assets under management – bought billions of dollars worth of BTC in less than a week. “BlackRock bought $2.6 billion of Bitcoin this week. That’s more than half a billion every day.” Bitcoin is trading for $99,137 at time of writing, a marginal decrease during the last 24 hours. Arkham also reveals that the asset management giant…
A closely followed crypto strategist believes XRP is gearing up for bullish continuation after rallying hard last month. Pseudonymous analyst Credible tells his 446,700 followers on the social media platform X that he’s keeping a close watch on XRP in its Ethereum pair (XRP/ETH). According to the analyst, his initial target for XRP/ETH would bring XRP/USD to a price area last witnessed in January 2018 when the altcoin reached its all-time high. “We still have another ~98% of upside to go against ETH before my first main target on the XRP/ETH pairing is met. At current prices of ETH ($4,000),…
MicroStrategy co-founder Michael Saylor says the US should offload all its gold and accumulate Bitcoin (BTC) as part of a new strategy to cement the country’s global financial dominance. In a new interview on Yahoo! Finance, Saylor says Bitcoin is emerging as the “world’s reserve capital network.” “People are realizing that Bitcoin is better than real estate, it’s better than stocks. There’s not a single company or real estate property that you would rather own for the long term than Bitcoin.” Saylor, whose company owns the largest corporate holding of Bitcoin in the world, says the US should attempt to…
Veteran trader Peter Brandt believes a large-cap altcoin that’s been surging as of late has one of the most bullish charts in crypto. Brandt tells his 760,700 followers on the social media platform X that cross-border payments solution XRP is in the midst of a massive breakout. The trader shares a chart suggesting that XRP’s market cap has cleared the diagonal resistance of a massive triangle pattern that has kept the market bearish for over seven years. “This the most powerful chart in all of crypto world XRPUSD.” At time of writing, XRP is trading for $2.51 with a market…