A crypto strategist who accurately timed Solana’s (SOL) meltdown this year thinks the next few years will not be kind to the popular layer-1 protocol. Pseudonymous analyst Bluntz tells his 318,400 followers on the social media platform X that he believes SOL will spend the next two years in deep bear territory. While Bluntz is […]
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Real Vision’s chief crypto analyst says that it’s hard to be anything but bullish toward Bitcoin (BTC), identifying one catalyst that could send the crypto king flying later this year. In a new thread, crypto strategist Jamie Coutts tells his 36,000 followers on the social media platform X that a recent move in the US […]
The post ‘Challenging To Be Anything But Bullish’: Crypto Analyst Says One Factor Could Trigger New Bitcoin Highs by May appeared first on The Daily Hodl.
Real Vision’s chief digital assets analyst Jamie Coutts believes Bitcoin (BTC) is gearing up for a massive breakout after weeks of volatility. Coutts tells his 35,600 followers on the social media platform X that he thinks a weakening US dollar and a massive sell-off in the crypto markets sets Bitcoin up for a bullish reversal […]
The post Stage Is Set for New Bitcoin All-Time High, Says Real Vision Analyst Jamie Coutts – Here’s His Timeline appeared first on The Daily Hodl.
A closely followed analyst believes the meme token Floki (FLOKI) is gearing up for rallies en route to fresh all-time highs (ATHs). Pseudonymous analyst Bluntz tells his 306,200 followers on the social media platform X that FLOKI appears to have completed an ABC correction on the daily chart. Bluntz uses the Elliott Wave theory, which […]
The post Analyst Says FLOKI Looks ‘Turbo Bullish,’ Predicts ‘Inevitable’ New All-Time Highs for the Major Memecoin appeared first on The Daily Hodl.
Bitcoin struggles to overcome the $64,000 resistance as investors choose to invest in stocks and seek shelter in cash options amid socio-political uncertainty.
Bitcoin (BTC) has been unable to sustain levels above $66,000 since July 31, despite achieving a 5.2% gain between Oct. 3 and Oct. 7. Some analysts assert that Bitcoin benefits from the ever-growing United States federal debt; however, while this correlation appears valid, it has minimal influence on short-term price trends.
In reality, socio-political events seem to be the primary driver of Bitcoin’s limited upside, considering that the global monetary base (M2) has expanded from $104 trillion in June to $108 trillion in October, while Bitcoin was rejected multiple times at the $68,000 resistance level. This suggests that the rally to $64,000 is unlikely to be rooted in the US fiscal situation.
Bitcoin/USD vs. global monetary base (M2, billion). Source: TradingView
Bitcoin price recaptures the $62,000 level as investor grow increasingly concerned about the fiscal health of the US
Bitcoin (BTC) has risen 2.4% since retesting the $59,900 support level on Oct. 3, despite facing initial resistance at $62,000. The gains on Oct. 4 were primarily driven by macroeconomic factors, such as US employment data, expectations of economic stimulus in Japan, and growing concerns about the US financial system.
In the US, the economy is booming, but fiscal conditions deteriorated. Interestingly, the US dollar surged to a 50-day high against other major currencies, including the euro, the British pound, and the Japanese yen.
Historically, the relationship between the US dollar Index (DXY) and Bitcoin has been inversely correlated. However, this latest movement seems to defy that pattern.
A widely followed crypto analyst says that one catalyst could spark a bull run for Bitcoin (BTC) and other digital assets. In a new video update, crypto strategist Jason Pizzino tells his 334,000 YouTube subscribers that the latest BTC crash can be attributed to the US dollar breaking out of its slump. “Bitcoin also dropped […]
The post This Factor Could Trigger Further Upside for Bitcoin and Other Crypto Assets, Says Analyst Jason Pizzino appeared first on The Daily Hodl.
A closely followed crypto strategist thinks that Bitcoin (BTC) is now raring to ignite the next phase of its bull market. Pseudonymous analyst Kaleo tells his 648,200 followers on the social media platform X that Bitcoin is now in a position to launch rallies that will last until the end of 2025. The trader shares […]
The post Crypto Strategist Unveils Big Bitcoin Price Target for 2025, Predicts US Dollar Collapse Along the Way appeared first on The Daily Hodl.
Investors balance risk as Bitcoin futures dip, reflecting uncertainty before the Federal Reserve's September meeting.
Although Bitcoin (BTC) has gained 21% since it retested the sub-$50,000 level on Aug. 5, its price has struggled to maintain above $62,000. Meanwhile, the S&P 500 index has fully recovered and is now trading just 1% below its all-time high set on July 16.
Bitcoin faces several conflicting trends, including derivatives metrics reflecting low buyer interest and macroeconomic indicators suggesting that traders are increasingly shifting away from cash positions. Interestingly, these stock market gains have coincided with a notable decline in US Treasury yields, which signals robust demand for these traditionally safe instruments.
In essence, traders are now willing to accept lower returns on fixed-income assets, likely reflecting a growing confidence in the Federal Reserve’s (Fed) strategy to curb inflation without sparking a recession. The Fed is widely expected to cut interest rates on Sept. 18 after maintaining rates above 4% since December 2022.
Bitcoin price action seems uninterested in rapidly declining US dollar strength, as a shock payroll revision adds to DXY pressures.
Bitcoin (BTC) refused to budge at the Aug. 21 Wall Street open while a “massive” United States employment revision boosted bullish risk-asset bets.
Data from Cointelegraph Markets Pro and TradingView showed flat BTC price action continuing despite a bombshell drawdown in US nonfarm payroll figures.
According to data from the US Bureau of Labor Statistics (BLS), these were revised down by 818,000 on the day. The period from April 2023 through March 2024 thus overstated payrolls by an average of 68,000 per month.
