Author: The Daily Hodl
Blockchain tracking firm Lookonchain says one crypto trader is looking at multi-million dollar losses after trading the official memecoin of Melania Trump, wife of US President Donald Trump. According to Lookonchain, the trader scooped up nearly 14 million Melania (MELANIA) last month for about $30 million, only to sell off all his holdings this week at a loss of $15.68 million. Lookonchain also noticed another whale lost $3.73 million on his MELANIA trade this week as well. “Whales sold all their MELANIA holdings at a loss recently! DNTpoX…LN2A spent 30 million USDC to buy 13.97 million MELANIA a month ago,…
A widely followed crypto analyst says that smart contract platform Ethereum (ETH) appears close to bottoming out against Bitcoin (BTC). In a new video update, crypto strategist Benjamin Cowen tells his 877,000 YouTube subscribers that the ETH/BTC pair will likely find its cycle low under 0.017 ($2,181) sometime near the end of the year. “ETH/BTC market cap ratio is getting pretty close to the lows…I think there is a decent chance that it will bottom out.” However, according to Cowen, if the US Federal Reserve were to cease its monetary policy of quantitative tightening, the ETH/BTC pair would immediately bottom…
The chief executive of a prominent crypto analytics firm believes that the Bitcoin (BTC) bull market is far from over despite a correction to the $78,000 level. CryptoQuant CEO Ki Young Ju tells his 409,400 followers on the social media platform X that he expects severe corrections during bull cycles and that Bitcoin may soon return to six figures. However, he warns that if Bitcoin drops well below $75,000, it will likely mark the end of the current bull market cycle. “I’m bullish. The bull cycle is not over. The cycle I’m referring to includes a potential 30% drawdown at…
Crypto strategist Michaël van de Poppe says Bitcoin (BTC) remains in a bull market despite correcting to the $80,000 range this week and he is predicting a massive rally. The analyst tells his 778,500 followers on the social media platform X that Bitcoin may soar to as high as $250,000 this cycle, a 195% increase from its current value. “I don’t think that the cycle is over. I think it barely started, even the hype on Bitcoin wasn’t anywhere near euphoria. I do believe that we’ll see Bitcoin above $200,000-$250,000 this cycle. I also believe we’ll have one year of…
Cryptocurrency analyst and trader Kevin Svenson is outlining the path forward for Bitcoin (BTC) as the flagship digital asset lingers around 20% below the all-time high. In a new video, Svenson tells his 82,700 YouTube subscribers that Bitcoin could re-enter bullish territory if BTC breaks above a downward trend line on the weekly time frame and manages to close above the price of $90,000. “So what we’re looking for right now with the current weekly is that we get a nice close, that we close at least above our downward-sloping support. At least we want to close above about $87,500…
Analyst and trader Ali Martinez is warning that a bearish signal is flashing on Bitcoin (BTC) amid a correction that has seen the crypto king fall to a three-month low. Martinez tells his 128,800 followers on the social media platform X that a bearish divergence is evident on Bitcoin’s weekly time frame. A bearish divergence occurs when price is recording higher highs and higher lows while an indicator such as the Relative Strength Index (RSI) is recording lower lows and lower highs. The RSI indicator is a momentum oscillator used to determine oversold or overbought conditions. According to Martinez, Bitcoin…
A closely followed economist thinks that Bitcoin (BTC) may be repeating a similar pattern from last year and still has room to run to the upside. Alex Krüger tells his 206,800 followers on the social media platform X that Bitcoin’s latest severe correction is similar to when the flagship crypto asset collapsed to range lows in April 2024 before printing a series of rallies. However, he warns that the uncertainty around US President Donald Trump’s tariff polices remains a big risk for the crypto markets. “The dominant mood across crypto market participants is ‘it is over.’ For good reason. The…
A new decentralized artificial intelligence (AI)-based altcoin is surging to the upside after abruptly gaining support from the world’s largest crypto exchange platform by volume. In a new announcement, Binance says its adding support for MyShell (SHELL), a protocol that allows users to create, share and own AI agents that can be used for professional and personal assistance as well as companionship. News of addition sent SHELL flying as the digital asset went from a low of $0.462 on February 26th to a peak of $0.661 just a day later. SHELL has since retraced and is trading for $0.597 at…
The chief executive of market intelligence firm CryptoQuant says the next few weeks are crucial for Bitcoin (BTC), revealing what his worst-case scenario for the crypto king would look like. In a new thread, Ki Young Ju tells his 408,700 followers on the social media platform X that he expects this cycle to be the longest bull run in history but notes that if BTC fails to hold up, it could find itself near the $77,000 level before eventually mounting a recovery. “Based on the typical two-year cycle, the bull market should last until April 2025 – I mentioned this…
Online payments giant PayPal is reportedly eyeing to expand the user base of its US-dollar-backed stablecoin by integrating the asset into several of its products this year. Bloomberg reports that the California-based firm is targeting its more than 20 million small-to-medium-sized merchants to use PayPal USD (PYUSD) by giving them the option to use the stablecoin to pay vendors through the company’s bill-pay product that will be launched by the end of 2025. PayPal’s small business and financial services group general manager Michelle Gill says the idea is to encourage merchants to invite their vendors to use the PayPal network…