A closely followed crypto analyst says it’s time for altcoins to rally and predicts that one blue-chip memecoin will be a major beneficiary. Pseudonymous analyst Rekt Capital tells his 461,000 followers on the social media platform X that the OTHERS chart, which tracks the market cap of all cryptocurrencies excluding the 10 largest digital assets, […]
The post Analyst Predicts Rallies for Altcoin Market, Says Top Memecoin Has Fully Confirmed New Macro Uptrend appeared first on The Daily Hodl.
Altcoins showed impressive double-digit gains after Bitcoin bulls successfully pulled BTC price back above the $61,000 level.
Bitcoin (BTC) bulls are trying to stage a comeback by pushing the price above the psychologically crucial level of $60,000. Veteran trader Peter Brandt said in a X post that if Bitcoin holds the most recent lows and moves higher, it will be considered a “very common bull market continuation chart construction.”
Analysts are bullish on the long-term prospects of Bitcoin but do not expect the uptrend to start in a hurry. Bitfinex Alpha market report said that Bitcoin could stay range-bound for one to two months “with swings of $10,000 on either side.”
Traders are likely to keep a close watch on the spot Bitcoin exchange-traded funds. According to Farside Investors data, the Bitcoin ETFs witnessed outflows of $563 million on May 1. The sentiment is likely to pick up after the Bitcoin ETFs witness net inflows for a few successive days. Former BitMEX CEO Arthur Hayes believes the sell-off has ended, and the crypto markets may head higher.
Cryptocurrency analyst and trader Ali Martinez is saying that the price of Dogecoin (DOGE) is exhibiting behavior it has previously displayed before embarking on massive rallies. Martinez tells his 61,200 followers on the social media platform X that the largest memecoin by market cap earlier this year broke out of a descending triangle, which is […]
The post Dogecoin Mirroring Price Action That Preceded Massive Bull Runs in the Past, Says Trader – Here’s His Outlook appeared first on The Daily Hodl.
A prominent layer-2 scaling solution for the meme asset Dogecoin (DOGE) is announcing that it is going to be shutting down its wallet services next month. In a new thread on the social media platform X, Mishaboar, one of Dogecoin’s developers, tells investors to make sure they move their DOGE out of the Dogechain wallet […]
The post Popular Dogecoin (DOGE) Layer-2 Solution Dogechain To Shut Down Wallet Services Next Month appeared first on The Daily Hodl.
Leverage traders are seeing red after Bitcoin (BTC) suddenly plummeted below $58,000, dragging altcoins down with it. According to crypto data aggregator Coinglass, over $448,490,000 in liquidations have occurred in the last 24 hours – more than 84% from leveraged longs. Leading exchange OKX hosted the largest amount of liquidations at $171.28 million, followed by […]
The post Over $448,000,000 in Bitcoin, Ethereum, Solana, Dogecoin and Other Coins Liquidated As BTC Crashes Below $58,000 appeared first on The Daily Hodl.
Bitcoin’s drop to $56,500 crushed bullish traders’ sentiment and took a heavy toll on altcoin prices but are generational buying opportunities emerging?
Bitcoin (BTC) sliced through the $60,000 support on May 1, signaling that the uptrend has weakened. While the fall has muddied the short-term picture for Bitcoin, the analysts remain bullish for the long term.
Traders latch on to every bit of negative news when the price action turns bearish. Investor sentiment received a beating on the muted response to the Hong Kong spot Bitcoin and Ether (ETH) exchange-traded funds (ETFs) that debuted on April 30. Continued outflows from the United States-based spot Bitcoin ETFs for the fifth consecutive day also did little to soothe nerves.
Every bull phase witnesses sharp corrections, which shake out the weak hands. The lower levels give an opportunity to the long-term investors to add to their portfolios. However, it is better to wait for the price to confirm a bottom before initiating large bets.
Bitcoin and altcoins could be en route to retest their recent strong support levels as bears try to extend the correction.
Bitcoin (BTC) continues to trade inside a large range, suggesting indecision about the next trending move. Analysts trying to predict the direction are enthused by the $1.3 billion of USD Coin (USDC) transferred to Coinbase by whale addresses. Expectations are that the funds will be used to buy Bitcoin and Ether (ETH).
Large investors are not only buying the top two coins by market capitalization. CoinShares head of research James Butterfill said in a recent report based on a survey of 64 institutional investors that 15% of the respondents had invested in Solana (SOL). In comparison, none of the investors held Solana in the firm’s January survey.
Morgan Creek Capital CEO Mark Yusko said in a recent interview with The Wolf Of All Streets podcast that about $300 billion of baby boomers’ wealth is likely to enter into digital assets within 12 months. This inflow could boost the cryptocurrency market capitalization to $6 trillion.
A closely followed crypto strategist is turning very bullish on memecoins in the current market cycle. Pseudonymous analyst Altcoin Sherpa tells his 215,600 followers on the social media platform X that retail traders could send memecoins soaring. “Highly bullish on memes this cycle though for a lot of reasons. New retail wants to get rich […]
The post Crypto Analyst Says He’s Highly Bullish on Memecoins This Cycle – Here Are His Top Picks appeared first on The Daily Hodl.
The top memecoins are far from previous highs, yet retail investors may view them as fairer opportunities than VC-backed coins with high fully diluted valuations.
While Dogecoin (DOGE) price fell during the past month, historical data indicates that it could start its rally to new all-time highs around seven months after the Bitcoin halving.
Dogecoin price is down nearly 8% on the daily chart and over 18% over the past month, but remains in line with the previous cycle’s price action, suggesting that it could be on track toward new all-time highs.
During the previous crypto bull market, Dogecoin started rallying in May 2020, or seven months after the 2020 Bitcoin halving, according to TradingView.
Memecoins are popular among crypto's degen crowd, but among builders, they appear as something that undermines the industry's fundamentals.
The post Memecoins are ‘undermining’ the long-term vision of crypto, a16z CTO says appeared first on Crypto Briefing.
