Author: The Daily Hodl
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…
Former President Donald Trump is reportedly choosing the CEO of Tether custodian Cantor Fitzgerald to lead his transition team. According to a new report by Politico, Trump is announcing that Howard Lutnick, the chairman and chief executive of financial services giant Cantor Fitzgerald, will lead his transition team along with Linda McMahon, the former head of Trump’s Small Business Administration. The report says that Lutnick and McMahon will be in charge of supervising the screening and hiring of potential government appointees as well as developing policies that Trump could execute immediately if he wins the presidential race. Cantor Fitzgerald has been…
An analyst who accurately called the 2022 crypto collapse says that one token that rallied almost 280% last week could foreshadow what’s coming for the altcoin market. Pseudonymous analyst Capo tells his 100,883 followers on the instant messaging platform Telegram that he’s closely watching the native governance asset of the non-fungible token (NFT) marketplace SuperRare (RARE). According to Capo, RARE’s massive rise from last week’s low of $0.0918 to a high of $0.3476 may be a preview of what’s in store for altcoins. “Basically we are seeing a correction after a bullish trend, similar to the one we saw back…
A widely followed crypto analyst says that Bitcoin’s (BTC) current correction is reminiscent of its price action about five years ago. In a new interview with financial and tech YouTuber David Lin, crypto strategist Benjamin Cowen says that the social risk metric indicates that the crypto king is following in the footsteps of its price action from 2019. According to Cowen, the number of people watching crypto YouTube channels has dipped significantly, signaling that it could reverse course and rally as it did in 2021. “I think it’s more similar to 2019 and there’s a couple of reasons for that…
Bitwise CIO Matt Hougan says that institutions are making their way over to crypto markets as the count of corporate holders of Bitcoin (BTC) exchange-traded funds (ETFs) grows. Hougan says on the social media platform X that “the institutions are still coming”, and he counts 1,924 holders of ETF pairs across all 10 of the Bitcoin ETFs currently trading on the stock market. Hougan notes that it is a 30% increase from the previous quarter despite falling prices in Q2. Says Hougan, “Of course, this does not mean 1,924 institutions own Bitcoin ETFs; some investors report positions in multiple ETFs.…
Ex-Goldman Sachs executive Raoul Pal believes that the US government accumulating millions of Bitcoin (BTC) is not all good news for the crypto king. During the recent Bitcoin2024 Conference, independent presidential candidate Robert F. Kennedy Jr. said that his administration would stockpile four million Bitcoin as a strategic reserve asset if he won the election. At the same event, Senator Cynthia Lummis announced that she proposed a bill that will drive the US government to accumulate one million BTC or 5% of BTC’s total supply in five years. But macro guru Raoul Pal is concerned about the potential behavior of…
A widely followed crypto strategist says the governance token of a decentralized finance (DeFi) lending protocol is gearing up for rallies. Pseudonymous analyst The Crypto Dog tells his 809,500 followers on the social media platform X that he’s bullish on Aave (AAVE). The trader shares a chart that suggests AAVE has successfully retested the level at $107 as support. “Think that’s gonna moon.” At time of writing, AAVE is trading for $111.62, down slightly in the past 24 hours but up over 46% since printing its August 5th low at around $75. Turning to another DeFi project, Curve DAO (CRV),…
New research from VanEck reveals that Bitcoin (BTC) miners are shifting to artificial intelligence (AI) and high-performance computing. In a thread on the social media platform X, Matthew Sigel, the head of digital assets research at VanEck, says that BTC miners are utilizing technology to earn profits through strategic arbitrage. “Bitcoin miners are shifting to AI and high-powered computing (AI/HPC), unlocking new revenue through strategic arbitrage. We estimate a $38 billion net present value opportunity by converting 20% of their collective capacity by 2027. (For context, the combined market cap of the stocks we looked at is $19 billion).” According…
Top US-based crypto exchange platform Coinbase is announcing a $15,000 grant program to push decentralized applications (DApps) built by artificial intelligence (AI). In a new blog post, Coinbase says it’s launching the Coinbase Developer Platform (CDP) AI Builder Program to solve common issues associated with automated DApp and blockchain development. “A major barrier to building useful applications with AI is that AI agents can’t get a bank account to send/receive automated payments. Building on-chain fixes this. With Coinbase’s MPC (multi-party computation) Wallets, AI agents can send and receive USDC payments for free on Base, and even earn yield on USDC…
Crypto strategist Michaël van de Poppe thinks that the digital asset market is a few weeks away from concluding its multi-month correction. The analyst tells his 722,800 followers on the social media platform X that September is a historically bullish month for crypto. According to Van de Poppe, altcoins are already flashing signs of life in their Bitcoin (BTC) pair. “The final weeks of pain are happening on the markets. From September onwards, it’s again the best period of the cycle for Bitcoin and crypto. BTC valuations are slowly grinding upwards already.” To support his bullish stance on altcoins, Van…