Author: The Daily Hodl
Cryptocurrency analyst and trader Kevin Svenson is saying that two catalysts could have bullish implications for Bitcoin (BTC). Svenson tells his 79,100 YouTube subscribers that the stock market and the global money supply are “supporting the idea of a rebound, a recovery, possibly new all-time highs” for Bitcoin. “The S&P 500 [stock index] has defied all expectations. Remember the world was ending just a couple of weeks ago down here… well, now the S&P 500 is sitting less than one percent away from the all-time high. A perfect recovery right back to the highs. And also there’s been discussion about…
A widely followed analyst and trader who accurately predicted the 2018 Bitcoin (BTC) bottom is expressing bullish sentiment on a top-10 crypto asset by market cap. The analyst and trader pseudonymously known as Bluntz tells his 269,700 followers on the social media platform X that BNB has a bullish-looking chart on the weekly time frame. According to the widely followed analyst, the fourth-largest crypto asset by market cap could go up by around 72% from the current level “soon.” “Consolidation under prior all-time with a sweep of both the top of the range and bottom of the range and has…
Top global crypto exchange Binance is rolling out support for a new memecoin that was created out of the messaging platform Telegram community. In a new announcement, Binance says it is listing Dogs (DOGS), a memecoin on the layer-1 blockchain The Open Network (TON). Binance will first list DOGS on August 23rd in the Binance Launchpool, which lets users stake coins to farm new assets. Binance then plans to list the asset for trade on August 26th. Says Binance, “DOGS is designed to leverage Telegram’s vast user base and native meme culture. Centered around a beloved dog mascot originally drawn…
Republican presidential nominee Donald Trump is reportedly launching his very own cryptocurrency platform. According to a new report by CNBC, Trump has announced the launch of crypto platform The DeFiant Ones to his followers on Truth Social as a means of competing with banks. As stated by Trump, “For too long, the average American has been squeezed by the big banks and financial elites. It’s time we take a stand – together.” According to the report, Trump’s son Eric recently described the platform as “digital real estate” and referred to decentralized finance (DeFi) as equitable collateral that anyone can access…
Ex-Goldman Sachs executive Raoul Pal thinks one controversial sector of altcoins is primed to outperform other crypto assets in the coming months. Pal tells his 1 million followers on the social media platform X that the crypto world “hates” tokens with high valuations and low initial circulating supplies, otherwise known as low float/high fully diluted valuation (FDV) tokens. The analyst notes that market disdain tends to cause low float/high FDV tokens to fall by at least 70% on their initial float because future unlocks are already priced in, even though most unlocks don’t trigger large selling events. “However, from that…
A closely followed crypto analyst says that one competitor of Solana (SOL) could skyrocket by 30% while updating his outlook on Bitcoin (BTC) and other digital assets. In a new strategy session, crypto trader Ali Martinez tells his 69,600 followers on the social media platform X that one key metric is flashing a buy signal for SUI, the native crypto asset of layer-1 blockchain and smart contract platform Sui Network. “The TD Sequential presented a buy signal on the SUI weekly chart. A sustained close above the 50-week moving average could trigger a 30% upswing to $1.20!” The Tom DeMark…
A decentralized finance (DeFi) platform based on the smart contract platform Solana (SOL) is drafting a proposal to settle with the U.S. Securities and Exchange Commission (SEC). In a new community proposal, the decentralized autonomous organization (DAO) of Mango Markets (MNGO) has voted to settle with the SEC even though the regulator hasn’t formally charged the decentralized exchange (DEX) protocol with any crimes. However, the SEC and other federal agencies launched an investigation into Mango Markets after crypto trader Avraham Eisenberg exploited the protocol for $110 million in 2022. According to the Mango DAO, the SEC has accused them of…
A crypto analyst and trader believes that Bitcoin (BTC) is currently transitioning into a bull market cycle phase. The analyst pseudonymously known as Rekt Capital tells his 82,700 YouTube subscribers that based on the 2016 and 2020 market cycles Bitcoin is likely to soon reach new all-time highs (ATHs). “We are definitely transitioning slowly but surely into the bull market stage. We’re probably already in this bull market phase, but we still have a lot more yet to come.” The analyst says that Bitcoin could break out of what he calls the post-halving re-accumulation phase of the market cycle as…
Bitcoin (BTC) short-term holders have absorbed most of the market’s recent losses, according to the crypto analytics firm Glassnode. The analytics firm defines short-term holders (STHs) as entities that have held their BTC for less than 155 days. Glassnode looks at the 30-day average of the STH Market Value to Realized Value (MVRV) ratio. The MVRV is the ratio of a crypto asset’s market capitalization relative to its realized capitalization or the value of all the coins at the price they were bought. The firm notes that the STH-MVRV ratio has fallen below the equilibrium value of 1.0, indicating new…
A widely followed analyst is saying that Bitcoin (BTC) is sending worrying signals as the flagship crypto asset languishes about 20% below the all-time high reached in March. In a new video, analyst Nicholas Merten tells his 509,000 YouTube subscribers that Bitcoin is showing weakness after failing to overcome a major resistance level after several attempts. “[Bitcoin] price action is showing some pretty bleak signs here… just from a pure price analysis perspective, right now we are still facing consistent resistance for… more than a week and a half here for Bitcoin against that 21-day moving average. We have not…