Author: The Daily Hodl
A popular crypto analyst is warning that Bitcoin (BTC) may be repeating a similar 2019 bearish pattern for one key reason. In a new YouTube video, Benjamin Cowen tells his 887,000 subscribers that a historic correlation between Bitcoin and Fed monetary policy suggests the flagship crypto asset may struggle to reclaim the bull market support band, as it did in 2019. The bull market support band is formed by the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA). “I think the reason why that 2019 comparison comes back to haunt Bitcoin fairly frequently is because of…
A crypto strategist who nailed Bitcoin’s 2022 bear market bottom says two things must happen for BTC to regain strong bullish momentum. In a strategy session, pseudonymous analyst DonAlt tells his 66,100 YouTube subscribers that Bitcoin bulls must reclaim a key price area as support to rein in the selling pressure. He also says that US President Donald Trump needs to stop making statements such as tariff threats to China, Canada and Mexico that drive the stock market to lower levels. “If we come back to $90,000, flip it [into support] on the daily time frame or the weekly or…
A widely followed crypto analyst is predicting higher prices for crypto assets as he expects the Federal Reserve to end its anti-inflation monetary policies. In a new thread, the pseudonymous crypto analyst Pentoshi tells his 861,300 followers on the social media platform X that we are close to seeing the end of quantitative tightening (QT), which are policies that reduce the Fed’s balance sheet and lowers the supply of money in circulation. The trader cites data from the decentralized prediction platform Polymarket, which shows that 100% of users believe that the Fed will end QT by May of this year.…
Crypto asset management giant CoinShares says institutional investors pulled billions of dollars out of crypto last week. In its latest Digital Asset Fund Flows Weekly Report, CoinShares says crypto products are enduring their worst run of investor outflows in a decade. “Digital asset investment products saw a 5th consecutive week of outflows, totaling US$1.7bn, bringing the total outflows over this negative funk to US$6.4bn. This also marks the 17th straight day of outflows, the longest negative streak since our records began in 2015. Despite prevailing negative sentiment, year-to-date inflows remain positive at US$912m. Following this price correction and sustained outflows,…
A closely followed analyst believes Bitcoin (BTC) and altcoins are about to ignite massive rallies and leave paper-handed investors on the sidelines. Pseudonymous analyst TechDev tells his 516,300 followers on the social media platform X that Bitcoin and altcoins appear to be flashing a technical setup that preceded steep rallies during the 2017 and 2021 bull cycles. The trader shares a chart suggesting that Bitcoin looks poised to shatter the top boundary of its weekly Bollinger Bands as BTC recovers from a 2025 low of $76,000. The Bollinger Bands are a volatility indicator that can signal a bullish breakout if…
Robinhood trading app is introducing a new prediction markets hub, expanding its financial services portfolio. Developed in partnership with regulated exchange Kalshi Inc. – also a prediction market service – the new platform enables users to trade contracts based on real-world outcomes across sports, politics, and economic indicators. Says J.B. Mackenzie, Robinhood’s Vice President and General Manager of Futures and International, of the new Polymarket-competing feature, “We believe in the power of prediction markets and think they play an important role at the intersection of news, economics, politics, sports, and culture. We’re excited to offer our customers a new way…
A new survey commissioned by crypto asset manager Grayscale Investments shows that deep-pocketed investors are leading the adoption of cryptocurrency in the US. In a research conducted in three waves between November 2023 and September 2024, analytics firm The Harris Poll surveyed 5,368 individuals who planned to vote in the 2024 presidential election. The results reveal that 26% of Americans with investable assets of at least $1 million own cryptocurrency, which is higher than the national average of 21%. Among the high-net-worth individuals (HNWIs), 38% believe that their investment portfolio will include crypto in the future. The number includes 53%…
A man linked to the launch of two collapsed memecoins has reportedly gone ahead with another project despite a potential Interpol Red Notice with his name on it. Blockchain analytics firm Bubblemaps reports that Hayden Davis was involved in launching WOLF, a coin inspired by the Wolf of Wall Street, the hit film based on former stockbroker Jordan Belfort. Davis admitted to being behind the launch of LIBRA, a memecoin initially backed by Argentinian president Javier Milei. He was also copped for his involvement in the launch of MELANIA, a coin based on US First Lady Melania Trump. Both coins…
The crypto project backed by US President Donald Trump has acquired another multi-million-dollar batch of digital assets, on-chain data shows. According to blockchain tracking firm Lookonchain, World Liberty Financial (WLFI) bought about $2 million worth of Avalanche (AVAX) and Mantle (MNT). Avalanche is a layer-1 Ethereum (ETH) rival, while Mantle is a prominent Ethereum layer-2 scaling solution. However, Lookonchain notes that WLFI’s portfolio, which includes more than 11 crypto assets, is losing on every single token, down nearly $120 million in total. “Trump’s World Liberty [Financial] bought 103,911 AVAX ($2 million) and 2.45 million MNT ($2 million)… In total, World…
Ethereum (ETH) has likely reached a bottom based on several on-chain metrics, according to crypto analytics firm Glassnode. Glassnode takes a look at a cost basis distribution (CBD) heatmap, which shows how many ETH positions break even at each price level and can often be used to pinpoint support and resistance zones. The firm says the metric is currently suggesting ETH has strong support at around the $1,886 level. “Ethereum’s Cost Basis Distribution (CBD) shows rising supply at $1,886, increasing from 1.6 million to 1.9 million ETH. This suggests a potential short-term price floor as investors accumulate at these levels,…