Author: The Daily Hodl

Billionaire hedge fund manager Bill Ackman is making major changes to Pershing Square Capital Management’s portfolio. Pershing Square just purchased 25.9 million shares of the alternative asset management firm Brookfield Corporation, reports The Motley Fool. That represents an increase in the Pershing’s Brookfield stake by about 378%. The move makes Brookfield one of the largest holdings in its portfolio, behind its stakes in Alphabet Class A and Class C. Ackman also added 13.2 million shares of Nike, significantly boosting the firm’s position in the apparel giant. In total, Ackman’s new investments in the pair of dividend stocks are worth approximately…

Popular crypto analyst Altcoin Sherpa is warning that Ethereum (ETH) may have a steep correction in its Bitcoin pair (ETH/BTC). The pseudonymous trader tells his 233,100 followers on the social media platform X that ETH/BTC could decline more than 35% from its current value. “ETH: I don’t know if this bottoms until 0.024 BTC ish, could be another big move down if BTC legs up past $100,000 strongly. Utter destruction.” ETH/BTC is trading for 0.03768 BTC ($3,624) at time of writing, up 3.92% in the last 24 hours. Next up, the analyst warns that the most popular memecoin by market…

Long-term holders have hawked more than 500,000 Bitcoin amid BTC‘s latest bull run, according to the crypto analytics firm Glassnode. The firm notes in a new analysis that the long-term holder cohort reached its peak Bitcoin supply in September. “Like all previous cycles, the Long-Term Holder cohort is taking advantage of inflowing liquidity and a strengthened demand side to recommence distribution of held supply at scale.” Long-term holders have sold 507,000 BTC since that peak, but Glassnode notes that is a smaller level than the 934,000 Bitcoin spent during the rally into the March 2024 all-time high. However, the long-term…

A top crypto trader is extremely bullish on one Ethereum (ETH) rival. The pseudonymous analyst known as Bluntz tells his 300,000 followers on the social media platform X that “there’s a god candle loading” for the layer-1 blockchain project Near Protocol (NEAR). “USD pair has retested a major breakout and the BTC pair is just about to bust through a major downtrend. Next to memes, alt L1s are the play [in my opinion], these are the two best-looking sectors that I can see.” NEAR is trading at $6.70 at time of writing. The 24th-ranked crypto asset by market cap is…

A crypto analyst known for making accurate Bitcoin calls believes BTC still has yet to enter the most explosive phase of the market cycle. Pseudonymous analyst Dave the Wave tells his 147,300 followers on the social media platform X that Bitcoin remains on track to soar into the six figures despite its recent dip into the low $90,000s. According to the top trader, Bitcoin moves in four-year cycles and, if it were to mirror past price action, a parabolic move remains on the horizon. “One positive if the BTC price does correct is that it has, as yet, not gone…

An analyst known as a “Master Trader” on the crypto exchange Bybit thinks that Dogecoin’s (DOGE) correction is over. Pseudonymous analyst Bluntz tells his 299,300 followers on the social media platform X that the top memecoin’s parabolic rally is in its early days. The trader shares a chart suggesting that DOGE could soar above $1 before its five-wave rally is over. “Current DOGE wave four looks done here. [DOGE] has been in an upwards sideways running flat correction for two weeks now and plenty of people have gotten bored and moved on to chase the next shiny thing. In reality,…

Crypto product firm 21Shares is launching new exchange-traded products (ETPs) centered around four prominent digital assets. In a new thread on the social media platform X, the world’s largest ETP provider says it is launching ETPs for oracle provider Pyth (PYTH), decentralized graphics processing protocol Render (RENDER), real-world assets-focused Ondo Finance (ONDO), and layer-one blockchain Near Protocol (NEAR). “Big news: Four game-changing ETPs just released! Introducing our newest products focused on oracles, tokenization, decentralized computing, and artificial intelligence.” In its product descriptions, 21Shares notes that each ETP is 100% “physically” backed up by its associated token. News of the ETPs…

The crypto analytics firm Santiment is outlining three under-the-radar opportunities traders are talking about in the altcoin space. Santiment notes the first potential opportunity is The Sandbox (SAND), a decentralized virtual reality network. “There has been a notable resurgence in metaverse-related investments and growing confidence among investors in SAND and related tokens, suggesting a shift towards GameFi and metaverse projects.” SAND is trading at $0.608 at time of writing. The 78th-ranked crypto asset by market cap is down more than 16% in the past 24 hours. The second altcoin on the analytics firm’s list is the global payments network Stellar…

A closely followed crypto analyst says that a price correction for Bitcoin in the coming weeks could be beneficial for BTC‘s bull market. In a new video update, pseudonymous crypto strategist Rekt Capital takes a look at the Pi Cycle Top Indicator, which uses two moving averages and their crossovers to forecast market cycle peaks for Bitcoin. The trader tells his 100,000 YouTube subscribers that Bitcoin has moved so fast in recent months that the Pi Cycle Top’s 111-Day Moving Average (DMA) is now threatening to cross above its 350 DMA X2, thus creating a bearish crossover and marking a…

YouTube rival Rumble says it will allocate up to $20 million of its excess cash reserves toward Bitcoin (BTC). The online video platform announced in a press release this week that its board of directors voted to approve the new “corporate treasury diversification strategy.” Chris Pavlovski, Rumble’s chairman and chief executive, says his company believes in the promise of Bitcoin and hopes to strengthen its ties to the crypto community. “We believe that the world is still in the early stages of the adoption of Bitcoin, which has recently accelerated with the election of a crypto-friendly U.S. presidential administration and…