Author: The Daily Hodl

Bitcoin’s (BTC) chart appears to be mirroring a Japanese stock market index, according to one popular crypto analyst. The pseudonymous trader known as TechDev shares charts with his 465,800 followers on the social media platform X comparing BTC to the Nikkei 225, a price-weighted index that tracks 225 blue-chip companies trading on the Tokyo Stock Exchange. “Haven’t seen much else like it.  Log growth cycles have existed well before Bitcoin. Different assets. Different decades. Same species. Without looking at time or price, most would think the first half of the Nikkei’s chart is Bitcoin’s. It must have had a halving…

Deep-pocketed Bitcoin investors are snapping up billions of dollars worth of BTC, according to analytics firm Santiment. Santiment says on the social media platform X that Bitcoin whales are showing continued accumulation after purchasing more than $5.76 billion worth of BTC amid a marketwide correction. “Bitcoin’s whales, specifically wallets that hold between 100-1,000 BTC, have accumulated 94,700 more coins in the last six weeks. As price uncertainty has shaken many traders out of crypto, key stakeholders are loading up.” Fellow analytics firm Glassnode is echoing Santiment’s stance that investors are accumulating Bitcoin in the midst of market uncertainty. Glassnode says…

The chief executive of Bitcoin wallet and payments application Strike believes the federal government is about to make moves that will be beneficial for the price of BTC. In a new Kitco News interview, Jack Mallers says the US cannot afford a strong dollar and it also cannot afford a weaker dollar following the stock and crypto wipeout earlier this month. On August 5th, stocks and crypto crashed as the world witnessed the unwinding of the yen carry trade. In Japan, droves of investors borrowed cheap yen to purchase high-growth assets like stocks and crypto to generate profits. But when…

A closely followed crypto analyst says that a Dogecoin (DOGE) rival is potentially copying the same parabolic structure that BNB printed earlier this year. Pseudonymous trader Inmortal tells his 214,000 followers on the social media platform X that memecoin FLOKI could be repeating BNB’s move in early 2024. The trader suggests that an over 160% move for FLOKI is potentially on the table. “Similar structures. BNB vs. FLOKI.” Looking at the trader’s chart, he seems to predict that FLOKI will rally to $0.0003. At time of writing, FLOKI is worth $0.000114 Inmortal says that FLOKI’s recent sponsorship deal with English…

The firm behind the largest US dollar-pegged stablecoin by market cap will soon be launching on another layer-1 blockchain. According to a new announcement from Tether, USDT will soon be available on Aptos (APT), a high-speed Ethereum (ETH) rival blockchain built for scalability. “Tether, the largest company in the digital assets industry, today announced that they will soon be launching U.S. dollar-pegged Tether tokens (‘USDT’) on the Aptos Network. This integration is part of Tether’s broader strategy to make digital currency more accessible and useful globally, capitalizing on Aptos’ advanced blockchain technology and exceptional speed and scalability… Recent data highlights…

A massive and potentially suspicious Bitcoin (BTC) transfer has been spotted on the blockchain, prompting speculation from experts. Blockchain tracking service Whale Alert spotted the transfer, reporting that 4,064 BTC worth about $238,655,421 was moved between two unknown wallets. Pseudonymous on-chain investigator ZachXBT also noticed the move, calling it a “suspicious transfer” that was immediately followed by more transfers to various exchanges, bridges, as well as privacy platform Railgun. “Seven hours ago a suspicious transfer was made from a potential victim for 4064 BTC ($238M) Transaction hash4b277ba298830ea538086114803b9487558bb093b5083e383e94db687fbe9090 Funds were quickly transferred to ThorChain, eXch, Kucoin, ChangeNow, Railgun, Avalanche Bridge.” ZachXBT…

Rich Dad Poor Dad author Robert Kiyosaki is calling for Americans to protect their wealth in precious metals and Bitcoin (BTC). The best-selling author says that panics in capital markets are “visible” because everyone can see prices crash, but panics in banks are not so easily detectable. “Panics in banks are invisible. That means most people have no idea when their bank is in BANKRUPT. That is why there is FDIC (Federal Deposit Insurance Corporation) insurance. If your bank goes bust, up to $250,000 of your savings are safe. WHY take the chance? Why not get most of your savings…

Investment giant BlackRock is now the biggest crypto exchange-traded fund (ETF) provider in terms of assets under management (AUM). According to blockchain intelligence firm Arkham, BlackRock’s ETF holdings have outpaced that of rival and longtime crypto ETF leader Grayscale. BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust ETF (ETHA) now collectively represent $14.6 million more in on-chain holdings than Grayscale’s Bitcoin Trust (GBTC), Grayscale Ethereum Trust (ETHE), Bitcoin Mini Trust (BTC) and Ethereum Mini Trust (ETH). “Blackrock ETF holdings overtake Grayscale for the first time. Blackrock ETFs now have the largest collective holdings of any provider. BlackRock ETF Holdings:…

Digital assets manager CoinShares says that institutional crypto investors poured only minor inflows of capital into digital asset investment products last week. In its latest Digital Asset Fund Flows report, CoinShares says that Ethereum (ETH) competitor Solana (SOL) institutional crypto investment products saw record outflows last week amid an apparent loss of interest in memecoins. “Solana saw outflows of US$39m, the largest on record, as it faced a sharp decline in trading volumes of memecoins, on which it heavily relies.” According to CoinShares, last week marked a huge drop in trading volumes for institutional investment products due to a change in…

A crypto analyst and trader believes that Bitcoin (BTC) is on the cusp of entering the most explosive phase of its market cycle. The analyst pseudonymously known as Rekt Capital tells his 81,900 YouTube subscribers that Bitcoin may be just weeks away from going on a massive months-long rally based on historic precedence. “If history repeats, then 160 days after the [April 15th] halving is where we’ll see a breakout in Bitcoin’s price action from this re-accumulation range. So there’s not much left to still wait for in terms of breaking out into a parabolic rally.” The analyst says that…