Analyst and trader Ali Martinez is leaning bullish on one large-cap crypto asset while offering his insight on Bitcoin (BTC) and two altcoins. Martinez tells his 85,900 followers on the social media platform X that BNB, the native token of the BNB Chain ecosystem, could skyrocket by 164% from the current level if it manages […]
The post Analyst Says BNB Could Explode by Over 160%, Updates Outlook on Bitcoin, Shiba Inu and Polkadot appeared first on The Daily Hodl.
Bitcoin continues its march toward $100,000, and several altcoins could be poised to hit new all-time highs.
Bitcoin (BTC) bulls have kept up the pressure, and the price is trying to climb above $95,000. Options contracts on BlackRock’s spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust ETF (IBIT), launched on Nov. 19, were an instant hit.
Bloomberg ETF analyst James Seyffart said in a post on X that IBIT options recorded roughly $1.9 billion in notional exposure, and that could be the reason for Bitcoin’s new all-time high on Nov. 19.
Bitcoin’s price is nearing $100,000, but MicroStrategy, the largest corporate holder of Bitcoin, is not showing any signs of slowing down its purchases. The business intelligence firm revealed plans to raise $2.6 billion from senior convertible notes to buy more Bitcoin and for general corporate purposes.
Everything but ETH seems to be rallying, even though Ethereum’s DApp volumes are surging. What gives?
Ether (ETH) price has struggled to maintain levels above $3,200 between Sept. 13 and Sept. 19. However, onchain metrics have improved, particularly when compared to some of Ethereum’s direct competitors. Traders are now questioning how long it will take for Ether to resume its bull run, given its dominance in fees and network deposits.
Blockchains ranked by 30-day DApps volumes, USD. Source: DappRadar
No blockchain comes close to Ethereum's $149.9 billion in onchain volumes over the past 30 days. The second-largest competitor, BNB Chain (BNB), reached only $26.6 billion, 82% smaller despite offering much lower transaction fees. More importantly, Ethereum’s activity grew by 37.7% over the past month, while BNB Chain saw a 6% decline in volume.
Bitcoin picked up momentum and soared above $84,500, pulling several altcoins higher.
Bitcoin (BTC) has been on a roll and shows no signs of slowing down. The latest leg of the rally above $84,500 pushed Bitcoin’s total market capitalization above $1.67 trillion for the first time.
Analysts remain optimistic that Bitcoin will extend its month-to-date gains of 17% as November’s average return is 44%, according to CoinGlass data. Veteran trader Peter Brandt said in a post on X that “when BTC runs - it runs.” He projects Bitcoin to reach $125,000 by the end of the year.
Daily cryptocurrency market performance. Source: Coin360
In the latest twist of crypto market action, solana (SOL) has waltzed past binance coin (BNB) this week, securing its place as the fourth largest digital asset by market cap. Solana Surges Ahead Currently, solana boasts a market cap of $97.68 billion, capturing 3.66% of the $2.67 trillion crypto economy. As of Nov. 10, SOL […]
Crypto markets cheered Donald Trump’s win by pushing Bitcoin to a new all-time high above $75,000, signaling the start of the next leg of the uptrend.
Bitcoin (BTC) hit a new all-time high of $75,407 on Nov. 6, eclipsing the previous high of $73,777 made on March 14. The rally was triggered after Donald Trump edged closer to winning the United States presidential election.
A Trump win is positive because the crypto industry hopes the incoming President will keep the promises made to the crypto community throughout the campaign trail. 10x Research head of research Markus Thielen told Cointelegraph that Bitcoin could skyrocket to $100,000 by Q1 2025.
Crypto market data daily view. Source: Coin360
Solana gains alongside Bitcoin’s US election-related rally, and data hints that SOL price could hit $200.
Solana’s native token SOL (SOL) opened the day with a 5.3% gain to trade slightly above $167. The move accompanied Bitcoin’s (BTC) US election day rally to $70,550, and for many traders, the desired target for SOL rests closer to $200.
Currently, onchain data and derivatives market metrics suggest that SOL’s rally could continue in the short-term.
Solana continues to lead in decentralized exchange (DEX) volumes, a clear indicator of user activity and transaction fees, both of which are crucial for fostering sustainable growth and encouraging further project and trader adoption.
Bulls aim to knock out Bitcoin’s all-time high before the US elections wrap up. Will altcoins follow?
Bitcoin (BTC) is facing resistance near $69,000, but the bulls have kept up the pressure. As the price nears the top of the range, the bears are likely to pose a strong challenge. However, analysts expect the range-bound action to end following the result of the upcoming United States elections.
Standard Chartered Bank analyst Geoff Kendrick said in a research note that Bitcoin could surge to $125,000 by the end of the year if the Republicans sweep the US Congress after the Nov. 5 elections.
Another bullish projection came from Bitwise’s head of alpha strategies, Jeff Park, who said in a post on X that Bitcoin could reach $92,000 if Donald Trump wins the US Presidential elections.
Ethereum price followed the broader crypto market sell-off, but its longer term price weakness is driven by network-specific factors.
Ether (ETH) prices declined by 9.6% from Oct. 20 to Oct. 23, following a strong rejection at the $2,700 level. This move erased the gains of the previous 10 days, and as Ether now stabilizes near $2,500, its 30-day performance remains negative, down by 6%.
The chance of ETH reclaiming the $2,800 support is diminishing and onchain data suggests that high transaction fees are pushing activity away from the Ethereum network, ultimately reducing demand for native staking.
Total crypto capitalization (blue) vs. Ether/USD (green). Source: TradingView
Bitcoin is finding support in the $66,500 to $65,000 zone and Bitcoin ETF inflows suggest traders are buying the dips. Will altcoins follow?
Bitcoin (BTC) has slipped below $67,000 after closing last week above $69,000, its strongest close since the start of June. However, the fall has not scared away the investors. According to Farside Investors data, United States-based Bitcoin exchange-traded funds witnessed inflows of $294.3 million on Oct. 21.
Usually, after the price spends a long time in a range, it needs a strong trigger to break out from the sideways price action. The upcoming United States elections could act as a catalyst for a new trending move in Bitcoin. Many believe that a victory by the former US president and Republican nominee Donald Trump could propel Bitcoin higher.
Daily cryptocurrency market performance. Source: Coin360
