Author: The Daily Hodl
Fundstrat’s Tom Lee says that financial markets are currently betting on a Donald Trump victory this November. In a new interview with CNBC, Lee says that markets believe that Trump’s odds of winning are higher than what the traditional polls show. “To an extent, I think that the markets are believing Trump’s probabilities of winning are stronger than the what the polls are showing. But I think that when the market sort of becomes more convinced of that, I think you’ll see cyclical stocks do better, small caps, and Bitcoin do better because these are really clear policy differences. But…
The founder of investment firm SkyBridge Capital says that Bitcoin (BTC) is not yet a store of value today but envisions Wall Street’s “selling machine” eventually promoting the crypto king. In a new interview on CNBC Squawk Box, Anthony Scaramucci says that it’s too early to brand the top crypto asset by market cap as a store of value. “I don’t see Bitcoin as a store of value today. I still see it as an early-adopting technology. Could it be a store value if there are over a billion wallets? Sure, we can look at it that way. Is it…
Robert Kennedy Jr. has chosen to withdraw from the US presidential race to support Republican nominee Donald Trump. In a speech addressing the nation, Kennedy said he’s backing Trump’s campaign to save the next generation of Americans. “I asked myself what choices must I make to maximize my chances to save America’s children and restore national health. I felt that if I refused this opportunity, I would not be able to look myself in the mirror knowing that I could have saved the lives of countless children and reversed this country’s disease epidemic… President Trump has told me that he…
A veteran crypto trader says that Bitcoin (BTC) is one critical level away from hitting new all-time highs. Pseudonymous trader DonAlt shares a chart with his 578,000 followers on the social media platform X suggesting that BTC is attempting to clear a heavy supply zone between $63,000 and $64,000, with one final resistance at $69,000. “The weekly is all that stands in the way of new all-time highs, in my opinion. I’ve decided to simply ignore it even though it’s usually my favorite timeframe. This is why I went bull at $58,000 because I’d have hated to open new longs…
A trader who continues to grow his following with timely altcoin calls thinks that an Ethereum (ETH)-based memecoin is gearing up for a huge upside move. Pseudonymous analyst Bluntz tells his 270,400 followers on the social media platform X that he has his radar locked on the memecoin Pepe (PEPE). According to the analyst, PEPE’s two-hour chart resembles Bitcoin’s (BTC) price action in January 2023 when it was bottoming and trading at around $16,000. “Took one look at PEPE this morning and had deja vu like I’d seen this before. I had and it was BTC at the 16,000 cycle…
A crypto strategist who accurately called this year’s pre-halving Bitcoin correction believes the time to accumulate discounted BTC is over. Pseudonymous analyst Rekt Capital tells his 494,700 followers on the social media platform X that Bitcoin is on the verge of reclaiming its reaccumulation range. The trader shares a chart showing that Bitcoin has historically shown strength after reclaiming its accumulation range. “History has repeated. The downside deviation is over. The bargain-buying period has ended. Bitcoin is on the cusp of confirming a reclaim of its weekly re-accumulation range.” The crypto strategist also says Bitcoin looks primed to challenge its…
A closely followed crypto strategist believes that one red-hot memecoin may have more upside potential. Pseudonymous analyst Altcoin Sherpa tells his 217,600 followers on the social media platform X that PepeCoin (PEPECOIN) could retrace to a key level before resuming an uptrend. “Strong PepeCoin is doing well right now, showing a lot of strength. To be determined if this is going to continue momentum, but watch out for the 200-day EMA (exponential moving average) around here. $2.30ish would be a decent entry in the short term. I have a bag.” PepeCoin is trading for $2.97 at time of writing, a…
Electronics and entertainment titan Sony is developing a new Ethereum (ETH) layer-2 blockchain called “Soneium.” In a recent press release, Sony Group is announcing the development of Soneium as a means of further venturing into the world of web3. According to Sony, taking advantage of blockchain technology will give a more streamlined, secure and decentralized experience for users. “By developing blockchain, which is the basic infrastructure of web3, we will be able to provide comprehensive web3 solutions from the infrastructure to the application layer, rather than just providing partial services. End users will be able to access Soneium through applications…
The hackers who plundered $305 million worth of Bitcoin from a Japanese crypto exchange earlier this year are moving their BTC. In May, the Japanese trading platform DMM Bitcoin lost 4,502.9 BTC in what the crypto investigative firm Chainalysis called “the seventh-largest crypto hack ever.” The blockchain security firm PeckShield says wallets associated with the hackers moved roughly 850 BTC worth more than $54 million to six different addresses this week. The cybercriminals, who on-chain sleuths suspect could be linked to the North Korean hacking outfit known as the Lazarus Group, likely used one of two methods to loot the funds,…
The crypto and stock markets surged Friday after Federal Reserve Chair Jerome Powell alluded to upcoming rate cuts in a speech at an economic symposium. While speaking in Jackson Hole, Wyoming, Powell said the economy was growing at a “solid pace” but noted that inflation and labor market data indicated an “evolving situation.” “The upside risks to inflation have diminished. And the downside risks to employment have increased. As we highlighted in our last FOMC (Federal Open Market Committee) statement, we are attentive to the risks to both sides of our dual mandate. The time has come for policy to…