Author: The Daily Hodl
A widely followed crypto analyst believes that Ethereum (ETH) may have reached a market bottom against Bitcoin (ETH/BTC). In a new video update, crypto strategist Benjamin Cowen tells his 807,000 YouTube subscribers that ETH/BTC may have reached the cycle low at 0.04 BTC. However, he warns that based on historical precedence, there’s a chance that ETH/BTC may first dip below the 0.04 BTC level on the monthly chart before rallying. “I think that ETH/Bitcoin bottoms in the 0.03 BTC to 0.04 BTC range, and it already hit 0.04 BTC. So there does exist a scenario where the low for ETH/Bitcoin…
Cryptocurrency analyst and trader Kevin Svenson is expressing bullish sentiment on Bitcoin (BTC). Svenson tells his 79,000 YouTube subscribers in a new video that Bitcoin is primed to see “continued upside, a continued recovery.” “The reason why is because the stock market is bouncing right back.” According to Svenson, the S&P 500 stock index’s bullish performance after a double-digit correction could fuel a Bitcoin rally. “The S&P went down almost 10% and is now down only 4% from the top. So the S&P has reclaimed more than half of that dip. A lot of people were fooled into thinking that…
A widely followed crypto believes that Solana (SOL) can reasonably climb by more than 850% before the current cycle expires. Pseudonymous analyst Kaleo tells his 643,700 followers on the social media platform X that Solana appears to be mirroring the price action of Ethereum in late 2020 just before ETH skyrocketed to its all-time high (ATH) of $4,878. “If Solana manages similar growth from the previous ATH that ETH did last cycle during this bull market, $1,000 SOL is a reasonable target.” But Kaleo notes that Solana can climb even higher if it truly follows ETH’s 2020 script. In August…
The chief executive of stablecoin issuer Circle says that the US crypto industry is looking for a clear statement from presidential candidate Kamala Harris on her stance on digital assets. In a new interview with CNBC Television, Circle CEO Jeremy Allaire says that the digital assets industry is looking for Harris, who became the Democratic nominee for the 2024 presidential election last month, to clearly announce her stance on crypto assets. “There is a concerted effort, both from the Administration and the Harris campaign, to really get to know the issues, the players, the industry, the policies, etc. I think…
A closely followed crypto analyst says that Bitcoin (BTC) may be forming a bullish pattern, setting up a massive breakout. In a new strategy session, crypto trader Ali Martinez tells his 69,300 followers on the social media platform X that Bitcoin could soon soar more than 7% from its current value in the short term. “In shorter time frames, Bitcoin might form a bull pennant, hinting at a potential surge toward $64,000!” Bitcoin is trading for $59,655 at time of writing, up slightly in the last 24 hours. Next up, the trader warns that Ethereum (ETH) competitor Solana (SOL) may…
A widely followed crypto analyst is laying out a scenario where Bitcoin (BTC) could dip back down below $50,000. In a new strategy session, crypto trader Michaël van de Poppe tells his 723,000 followers on the social media platform X that the crypto king could crash to $48,000 if its current support level falls apart due to a negative Consumer Price Index (CPI). However, he also notes it’s possible for BTC to go the other way and hit fresh all-time highs if it breaks above resistance. “The question for Bitcoin is which side it will take. Primarily above $56,000, the…
New filings reveal that financial services titan Goldman Sachs is holding hundreds of millions of dollars worth of spot market Bitcoin (BTC) exchange-traded fund (ETF) holdings. According to new Form 13F filings submitted to the U.S. Securities and Exchange Commission (SEC), banking giant Goldman Sachs holds $418 million worth of BTC ETF shares. Other blue-chip investors also disclosed their BTC ETF holdings. Institutional investors such as BlackRock, Bitwise, ARK Invest, Invesco, WisdomTree, Grayscale and Fidelity also were found to be holding widely differing dollar amounts. While BlackRock, a firm with over $10 trillion with assets under its management, holds about…
Bitcoin mining firm Marathon (MARA) is unveiling a plan to spend hundreds of millions of dollars to bolster its BTC stockpile. In a new press release, Marathon says it intends to privately offer $250 million worth of convertible senior notes due in September 2031 to “persons reasonably believed to be qualified institutional buyers.” “The notes will be unsecured, senior obligations of MARA and will bear interest payable semi-annually in arrears on March 1 and September 1 of each year, beginning on March 1, 2025… The notes will be convertible into cash, shares of MARA’s common stock, or a combination of…
Ex-Goldman Sachs executive Raoul Pal is predicting that artificial intelligence (AI) agents will one day use crypto assets to transact with each other. In a new video update, the Real Vision CEO says that in the not-so-distant future, AI agents are probably going to use digital assets to pay for things like electricity, with the transactions remaining outside of traditional finance systems. “AI agents are coming into the world. An AI agent is like you going to Fiverr and hiring somebody to build your website and hiring someone to do your marketing strategy and all of those kind of things.…
Spot Bitcoin (BTC) exchange-traded funds have witnessed more than $19.3 billion of net inflows this year, according to Eric Balchunas, a Bloomberg ETF analyst. Balchunas tells his 319,100 followers on the social media platform X that the number is “surprisingly strong” and argues that it is the most important bellwether of success given Grayscale’s GBTC unlock and net price movement. Balchunas also notes US ETFs are on pace to pace Satoshi Nakamoto, Bitcoin’s pseudonymous creator, as the top holders of BTC. “BlackRock alone is already #3 and on pace to be #1 late next year, and will likely stay there…