New data reveals that a deep-pocketed Ethereum (ETH) investor has woken up from a year of dormancy and is selling off its crypto assets as the top altcoin loses momentum. According to blockchain data tracker Lookonchain, the crypto whale has woken up from a 12-month slumber and is selling its stash of ETH over decentralized […]
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A widely followed crypto analyst says the crypto markets are still “massively undervalued” despite recent rallies. Crypto trader Michaël van de Poppe tells his 677,000 followers on the social media platform X that the crypto and Bitcoin (BTC) markets are currently at the “buy the dip” stage. “This stage of the market you clearly want to buy […]
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A widely followed crypto trader believes Chainlink (LINK) is setting the stage for another move to the upside. In a new video strategy session, crypto analyst Michaël van de Poppe tells his 162,000 YouTube subscribers that LINK is showing strength against Bitcoin (LINK/BTC), indicating more upside potential for Chainlink’s USD pair. “In 2019-2020, we can […]
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A closely followed crypto trader believes that the smart contract platform Solana (SOL) is not yet done rallying. Pseudonymous analyst The Flow Horse tells his 191,100 followers on the social media platform X that Solana bulls continue to accumulate SOL regardless of price. With heavy buying activity, the top trader believes that SOL is gearing […]
The post Top Trader Says Solana Grinding for a Pop, Predicts Breakout Rally for Chainlink After Month-Long Consolidation appeared first on The Daily Hodl.
Crypto analyst Ali Martinez is expressing bullish sentiment on Solana (SOL) amid triple-digit-percentage gains by the Ethereum (ETH) competitor this year. Martinez tells his 34,500 followers on the X social media platform that Solana could surge by around 25% from the current level if the bullish momentum is maintained. “A sustained close above $68.20 will […]
The post Ethereum Rival That’s Exploded Over 600% Year-to-Date on the Cusp of Another Bullish Breakout, Says Analyst appeared first on The Daily Hodl.
Bitcoin price staged an intraday rally to the $44,000 level and technical charts show altcoins are keen to follow.
This week Bitcoin (BTC) price saw a shallow pullback, but the intra-day rally to the $44,000 level is an indication that the bulls are not hurrying to close their positions. Data from the popular HODL Waves metric shows that investors who purchased Bitcoin between December 2020 and December 2021 have been sitting on their coins.
Investors have not been selling into strength because they anticipate higher levels in the future. Asset manager VanEck said in its crypto predictions for 2024 that Bitcoin would make a new all-time high, buoyed by the “political events and regulatory shifts following a U.S. presidential election.”
Bitcoin’s rally of the past few days has also attracted investors to select altcoins, such as Ether (ETH), Cardano (ADA) and Solana (SOL). Research firm Santiment remains positive on the prospects of Bitcoin. It said on Dec. 7 that if FUD increases, Bitcoin could surge to $50,000.
Bitcoin is witnessing profit-booking by short-term holders, but institutional investors continue to put money into BTC investment products.
Bitcoin (BTC) has been on a tear, rising more than 10% this week. This shows that traders are urgently scrambling to buy Bitcoin as they anticipate the price to rally further. CoinShares data shows that investors have pumped in more than $1.44 billion into Bitcoin investment products in the past ten weeks.
The expectation is that the approval of a spot Bitcoin exchange-traded fund (ETF) will attract huge investments. Animoca Brands CEO Robby Yung, while speaking at the Next Block Expo conference in Berlin, said that Bitcoin ETFs could generate a potential income of “$10 to $12 billion.”
While long-term investors have been accumulating Bitcoin, the short-term holders (STHs) holding coins for 155 days or less have been busy booking profits in December. CryptoSlate research and data analyst James Van Straten, while sharing a Glassnode chart on X (formerly Twitter), said that STHs in profit sent roughly $5 billion worth of Bitcoin to exchanges in the first four days of December.
Altcoins show compelling technical setups after Bitcoin price blew past $42,000 on December 4.
Bitcoin (BTC) and Ether (ETH) surged above their respective overhead resistance levels on Dec.
Cryptocurrency exchange Bybit said in its 4th quarter report that institutional traders held 35% of their assets in Bitcoin, 15% in Ether and a large portion kept 45% of their assets are in stablecoins. Only a miniscule 5% was held in rest of the altcoins.
This shows that there is still enough firepower available with institutional investors to buy the cryptocurrency of their choice by selling stablecoins.
Matrixport research head Markus Thielen said in a recent note that the three previous crypto bear markets were followed by a three-year bull cycle, and this time is going to be no different, with 2023 being the first year.
Could bulls hold on to the gains in Bitcoin and select altcoins, or will higher levels attract aggressive selling by the bears? Let’s analyze the charts to find out.
The bulls kicked the S&P 500 Index (SPX) above the overhead resistance of 4,541 on Nov.
The up-move is likely to face selling in the zone between 4,607 and 4,650.
A widely followed crypto strategist thinks that rallies are in sight for the layer-1 blockchain Tron (TRX) and the decentralized finance (DeFi) lending protocol Aave (AAVE). Pseudonymous analyst Rekt Capital tells his 373,000 followers on the social media platform X that TRX ended November on a bullish note after the crypto asset closed above its […]
The post Crypto Trader Predicts Rallies for Tron and Aave, Updates Outlook on Chainlink and Polkadot appeared first on The Daily Hodl.
A widely followed analyst says that Bitcoin (BTC) is setting the stage up to skyrocket as one key indicator points toward strong momentum for the king crypto asset. In a new thread, macroeconomist and crypto strategist Henrik Zeberg tells his 121,200 followers on the social media platform X that BTC’s weekly relative strength index (RSI) […]
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