Author: The Daily Hodl

A seasoned crypto trader is warning that the current bounce in the altcoin market will likely be short-lived. Pseudonymous analyst The Flow Horse tells his 266,500 followers on the social media platform X that he thinks crypto is still bearish and the latest rally will probably lead to another leg down. According to the analyst, the current bounce has not changed the bearish market structure of crypto. “Bearish still on the high time frame until proven otherwise. I can’t see any reason why this isn’t a relief rally and markets won’t continue to suck the next few months. Chart is…

Digital asset management giant Grayscale says one layer-one blockchain is the best-positioned out of any to potentially steal market share away from Ethereum (ETH), the biggest smart contract platform by market cap. In a new report from Grayscale Research, the firm says Sui (SUI) provides “one of the highest throughput and lowest transaction costs of any single-layer network” without relying on additional scaling layers, as Ethereum does. Grayscale notes that Sui represents only 0.3% of its Smart Contract Platforms Crypto Sector by market capitalization. According to the firm, its Smart Contract Platforms Crypto Sector index includes crypto assets that serve…

Binance has banned another market maker and frozen its assets after identifying certain irregularities. The top global crypto exchange didn’t identify the market maker but noted that it operated for the Ethereum (ETH)-based layer-2 project Movement (MOVE). Movement uses Move, a programming language originally built by a consortium backed by tech giant Meta for the now-defunct Diem project. The language was then used to develop layer-1 blockchains Sui (SUI) and Aptos (APT). The project’s native token launched via Binance’s Airdrops Portal in December, but the exchange says that after MOVE was listed, the now-banned market maker sold approximately 66 million…

President Donald Trump’s media company has plans to launch a series of digital asset exchange-traded funds (ETFs) in partnership with the exchange Crypto.com. Trump Media and Technology Group plans to roll out the ETFs through the firm’s fintech brand, Truth.Fi, and Crypto.com’s broker-dealer Foris Capital. The ETFs will have a “Made in America” focus and will feature a basket of crypto assets, including Bitcoin (BTC), Cronos (CRO) and others, per a new press release. CRO is the native asset of the layer-1 Cronos blockchain, which was developed by Crypto.com. The token skyrocketed by nearly 30% after the partnership was announced…

Shares of GameStop (GME) are rallying after the video game retailer and memestock favorite announced plans to accumulate Bitcoin (BTC) as a reserve asset. GME stock, a viral sensation among retail traders in 2021, is up more than 14% the day after the company’s board approved a Bitcoin treasury strategy. Shares of GameStop are trading for $29.12 at time of writing. In a Tuesday filing with the U.S. Securities and Exchange Commission (SEC), the company outlines its new Bitcoin strategy. “The Board approved the addition of Bitcoin as a treasury reserve asset, alongside US dollar-denominated stablecoins, to diversify the Company’s…

Metaplanet chief executive Simon Gerovich is predicting that Bitcoin (BTC) treasury firms like Strategy will increase in number. In a new interview with Pomp Investments founder Anthony Pompliano at the Bitcoin Investor Week in New York, Gerovich says that the success of Metaplanet and Strategy, two publicly listed Bitcoin treasury companies, will likely lead to many other entities adopting the same new business model. “We’ve been inspired incredibly by the work of MicroStrategy, Strategy. And we hope that through the initial success that we’ve had, and we’re very humbled by the interest that the market has taken in us so…

Senator Elizabeth Warren is worried a bipartisan stablecoin bill working its way through Congress doesn’t do enough to address the systemic risks she thinks the dollar-pegged assets pose. Senator Bill Hagerty (R-TN) introduced the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in February. The legislation, which aims to establish regulatory clarity for stablecoins, passed out of the Senate Banking Committee on March 13th by a bipartisan 18-6 vote. In a speech to the committee earlier this month, Warren (D-Massachusetts) said the bill doesn’t protect consumers, national security or financial stability. “The bill lacks basic safeguards necessary to…

Morgan Stanley’s chief investment officer and chief US equity strategist, Mike Wilson, is issuing a warning on the stock market. Wilson says in a CNBC interview that the stock market rally currently being experienced is unlikely to last long. “It’s going to remain volatile through the end of the second quarter. So whatever rally we’re getting now, we think probably ends up fading into earnings into May and June, and it will probably make a more durable low later in the year.” According to Wilson, fundamental factors are driving the stock market lower. “At the end of the day, I…

BitMEX co-founder Arthur Hayes believes that it is now in the cards for Bitcoin (BTC) and Ethereum (ETH) to witness sustained rallies en route to new all-time highs. The crypto veteran says on the social media platform X that he thinks Bitcoin has the potential to rally above its current record high of $108,000 after Fed Chair Jerome Powell announced that he plans to reduce the pace of quantitative tightening (QT) by April 1st. According to Hayes, the announcement puts the Fed in the position to transition from QT to quantitative easing (QE), a condition that has triggered crypto bull…

An analyst who accurately called Bitcoin’s correction in early 2024 believes BTC remains in a bull market after bouncing from a 2025 low of $76,000. Pseudonymous analyst Rekt Capital tells his 542,00 followers on the social media platform X that Bitcoin’s current bull market cycle has yet to reach a peak. “BTC bull market progress: 82.5%. (Progress will speed up on parabolic advances and slow down on deeper retraces).” The analyst also tells his 107,000 YouTube subscribers that Bitcoin’s latest correction to $76,000 is not the sign of a beginning bear market based on historical precedence. “Many people have been…