BlackRock Accumulates $518,000,000 in Bitcoin in One Day As BTC Tags $52,000: On-Chain Analysis

https://dailyhodl.com/2024/02/14/blackrock-accumulates-518000000-in-bitcoin-in-one-day-as-btc-tags-52000-on-chain-analysis/

Financial titan BlackRock just accumulated an additional $518 million in Bitcoin (BTC) as the crypto king moves higher.

On Wednesday, BlackRock added 10,003 BTC into its new iShares Bitcoin Trust (IBIT), a spot exchange-traded fund (ETF), according to the on-chain analytics tracker Lookonchain.

That brings BlackRock’s total holdings to 105,280 BTC.

“iShares(BlackRock) added 10,003 BTC ($518M) [Wednesday] and currently holds 105,280 BTC ($5.45B). Eight ETFs added 14,104 BTC ($730.3M) and Grayscale decreased 1,912 BTC ($99M).”

Image
Source: Lookonchain/X

BlackRock also made a huge buy on Tuesday, picking up more than 7,000 BTC.

“February 13th update: eight ETFs added 12,073 BTC ($590M) [Tuesday] while Grayscale only decreased 1,147 ($56M). iShares (BlackRock) added 7,497 BTC ($366.5M) and Fidelity added 3,039 BTC ($148.5M).”

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Source: Lookonchain/X

BlackRock, which is currently the largest asset manager in the world, launched IBIT in January. Eight other financial groups also launched their own spot Bitcoin ETFs last month.

Bitcoin briefly hit $52,000 on Wednesday and is trading for $51,669 at time of writing, up more than 6% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post BlackRock Accumulates $518,000,000 in Bitcoin in One Day As BTC Tags $52,000: On-Chain Analysis appeared first on The Daily Hodl.

$2,907,170,360 in Ethereum Accumulated by 200 Largest ETH Whales in One Year, Says Analytics Firm Santiment

https://dailyhodl.com/2023/11/23/2907170360-in-ethereum-accumulated-by-200-largest-eth-whales-in-one-year-says-analytics-firm-santiment/

A top crypto analytics firm says that the 200 largest Ethereum (ETH) holders went on a massive buying spree in the past year, picking up over $2.9 billion worth of the leading altcoin.

According to Santiment, the top 200 ETH whales are now holding more than 62 million ETH valued at about $124.1 billion, an increase of around 14.5 million ETH from the same time last year.

Santiment also says there was a huge spike in ETH wallets created on Monday, the largest since July.

“The 200 largest Ethereum wallets now hold a combined 62.76 million ETH, currently worth ~$124.1 billion. They have accumulated 30.3% more coins since November 21, 2022. Additionally, 94,700 new ETH wallets were created yesterday, the highest spike since July.”

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Source: Santiment/X

Next, the firm says that the broader crypto markets dipped after the Binance news broke.

“The bombshell news of [Changpeng Zhao] stepping down after the DOJ (US Department of Justice) found him guilty for laundering and fraud is still hitting the mainstream. Altcoins have been extra volatile, and buy-the-dip opportunities may arise depending on how much FUD (fear, uncertainty and doubt) this causes.”

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Source: Santiment/X

The firm says that Binance’s ecosystem native token Binance Coin (BNB) was among the most affected.

“Binance Coin has understandably been among the altcoins hit the hardest on news of [Changpeng Zhao] stepping down as CEO. But if a quick reputation recovery happens for crypto’s number one exchange, a BNB bounce would be likely based on this level of trader FUD.”

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Source: Santiment/X

The firm suggests that a decline in altcoins had already started prior to the Binance news. The firm also notes that it appears some BNB holders are swapping their coins for FTX’s native token FTT.

“Although many see the Binance news as the main culprit for one of the biggest retraces of the year, the fact of the matter is that altcoins had already seeing shrinking market caps. Interestingly, it appears some traders are swapping their BNB for FTX’s FTT.”

Image
Source: Santiment/X

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Crypto Analyst Says Doors Are Open for Ethereum Rally, Updates Outlook on Bitcoin and One AI-Focused Altcoin

https://dailyhodl.com/2023/10/31/crypto-analyst-says-doors-are-open-for-ethereum-rally-updates-outlook-on-bitcoin-and-one-ai-focused-altcoin/

A crypto analyst who nailed the top of Bitcoin’s (BTC) 2021 bull market says that Ethereum (ETH) is well-positioned to move another leg up after suddenly entering a new trading range.

Pseudonymous analyst Pentoshi tells his 706,400 followers on the social media platform X that Ethereum could soar more than 21% from its current value.

“ETH: closing this weekly back inside the range opens up the doors to $2,200.”

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Source: Pentoshi/X

Looking at his chart, the analyst believes that ETH convincingly crossed the lower bound of a new trading range between $1,796 and $2,200.

The analyst also says that Ethereum against Bitcoin (ETH/BTC) corrected to a key psychological level, indicating a bounce is likely.

“Despite it severely underperforming BTC, it’s now beginning to enter the demand zone on the ETH/BTC ratio.”

Image
Source: Pentoshi

ETH/BTC is trading for 0.0524 BTC ($1,810) at time of writing.

The analyst also weighs in on Bitcoin, and he predicts that the top digital asset will remain in an uptrend as long as a key price range holds as support.

“BTC is bullish as long as [it remains] above the $31,500-$32,500 area. Thus, I’ll continue to have bullish bias unless a deviation occurs as an invalidation.”

The analyst also believes Bitcoin could continue to rally across the $40,000 level in the coming weeks.

“The most important levels to play [are] marked. Closing below purple equals likely deviation and invalidation. $40,000-$42,000 on the table in the weeks ahead.”

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Source: Pentoshi/X

Bitcoin is trading for $34,511 at time of writing.

Lastly, the analyst updates his outlook on artificial intelligence (AI) altcoin Fetch.AI (FET). He predicts a period of consolidation before a move toward the $0.496 range high.

“Update: likely going to get a little consolidation around this area which is the mid-range of the larger resistance and support mapped out, especially after such a strong move. So [I’m] expecting a small pullback and some sideways over the next few days before any attempts to go to the top of that previous range on FET.”

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Source: Pentoshi/X

FET is worth $0.36 at time of writing.

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Crypto Venture Firm Placeholder Capital Says Ethereum and Solana Are Like Android and iOS – Here’s Why

https://dailyhodl.com/2023/10/12/crypto-venture-firm-placeholder-capital-says-ethereum-and-solana-are-like-android-and-ios-heres-why/

A prominent crypto venture capital firm is comparing Ethereum (ETH) to the mobile operating system Android and Solana (SOL) to iOS.

In a new blog post, Placeholder Capital makes a case for why Ethereum and Solana are comparable to the two different operating systems.

“Ethereum and Solana are like Android and iOS. Android values modularity: it runs on many different types of devices made by hundreds of manufacturers worldwide; Google only makes 1-2% of them. This approach made it the world’s most popular mobile operating system, with an estimated 60-75% market share.

Android’s flexibility has been a boon for hardware companies making anything from smartphones to televisions, as they can bring new products to market without investing billions into building bespoke operating systems. However, such diversity also makes it more difficult to develop apps that seamlessly work across many devices with different specs, screen sizes, and the various versions of Android these devices run.”

The venture capital firm says that iOS has significant qualities that Android lacks, including a more consistent user experience.

“By contrast, because Apple makes all iOS devices, it can provide users and developers with a more integrated and consistent experience. The time saved by not having to optimize across different devices can go into delivering better apps that users are willing to pay a premium for, and it’s not uncommon for companies to launch on iOS first as a result.

So, while Apple has just about a third of the market in terms of distribution, it does a much better job at capturing the value of its ecosystem with a whopping ~60% of all mobile spend, plus all the hardware revenue.”

According to Placeholder Capital, Ethereum’s likeness to Android is helping to boost its layer-2 ecosystem.

“Ethereum is similar to Android in that it’s quickly becoming more of a platform for third-party networks than the place where most end-users and developers operate.”

Solana offers developers certain benefits over Ethereum, including speed and cost, according to the firm.

“Solana is similar to iOS in how it values tightly integrated components in the name of throughput and performance. There’s much more to it – different consensus mechanisms and design principles – but ultimately, Solana as a single, unified network is much faster and cheaper than Ethereum and many other EVM (Ethereum Virtual Machine) networks.”

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Crypto Trader Says It’s Time To Shift Back to Full Bull on Bitcoin (BTC), Updates Outlook on Ethereum (ETH)

https://dailyhodl.com/2023/10/11/crypto-trader-says-its-time-to-shift-back-to-full-bull-on-bitcoin-btc-updates-outlook-on-ethereum-eth/

A closely followed crypto strategist says he is flipping bullish on Bitcoin (BTC) after the king crypto dipped below the $28,000 level.

Pseudonymous analyst Credible Crypto tells his 346,700 followers on the social media platform X that BTC will likely reverse its downtrend after finding support at a key level.

“Did you flip bullish at the highs, anon?

Just as I was short-term bearish at the highs a couple of days ago it’s almost time to shift back to full bull.

Once we take the equal lows at $27,100 you’re playing with fire if you’re selling/short imo (in my opinion). HTF (high time frame) bullish above $24,800 means longs are the play under $27,000 imo.”

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Source: Credible Crypto/X

The trader also warns that Bitcoin may dip below the key $27,000 level before the next leg up.

“Targeting $27,100 at minimum with a test of the mid-range at $26,700 seeming highly likely as well. Zooming out for some additional context, you can see that we have tons of liquidity built up below us after taking liquidity above with plenty of rejection wicks to the upside.

Meanwhile, OI (open interest) is peaking and has hit levels that have marked a local top the last five out of five times. The direction we are headed here is clear imo. The real question is how low we will go.

Remember still high timeframe bullish and don’t expect $24,800 to be breached. I think we test the midrange and if that holds, our bottom could come ‘early.’ Otherwise, we may be blessed with a quick push under $26,000 (but above $24,800) for an excellent low-risk, high-reward entry once more.”

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Source: Credible Crypto/X

BTC is trading for $27,441 at time of writing, down 0.6% in the last 24 hours.

The trader also looks at Ethereum (ETH) against Bitcoin and predicts ETH/BTC is heading even lower in the near term before a trend reversal.

“ETH/BTC is down nearly 30% from when I made this post calling for a 50%-plus drop on the pairing. I know many are eyeing up current levels for a higher low/bottom on the pairing, but with BTC’s largest upside moves yet to come, we are going much much lower on ETH/BTC imo.

After this bleed-down comes a mega melt-up. We get to enjoy the ride on BTC and then have the chance to enjoy a bigger ride on ETH and other alts soon after. Don’t fear it, embrace it.”

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Source: Credible Crypto/X

ETH/BTC is trading for 0.057 BTC ($1,567) at time of writing.

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Arthur Hayes Says Bitcoin and Crypto Bull Market Will Resume Once One Catalyst Is Activated

https://dailyhodl.com/2023/10/04/arthur-hayes-says-bitcoin-and-crypto-bull-market-will-resume-once-one-catalyst-is-activated/

BitMEX founder Arthur Hayes believes Bitcoin’s (BTC) bull market will reignite after one event plays out.

Hayes tells his 395,700 followers on the social media platform X that the Federal Reserve will likely start printing money again, which will send Bitcoin soaring.

One signal that the Fed will need to pivot and prop up the US economy is a troubling pattern forming in the bond market, according to Hayes.

He says long-term bond interest rates are rising faster than short-term bond interest rates, a phenomenon known as the “bear steepener.” This yield curve pattern is often a bearish signal for stocks and risk assets.

“The faster this bear steepener rises, the faster someone goes belly up, the faster everyone recognizes there is no way out other than money printing to save government bond markets, the faster we get back to the crypto bull market. The Lord is my Shepherd, I shall not want.”

According to Hayes, the rising 2s30s curve – which is the difference between the 30-year yield and the 2-year yield – and Federal Reserve’s hawkishness are leading to an inflection point in the US economy.

“Due to the leverage and non-linear risks embedded in banks’ portfolios, they will be selling bonds or paying fixed on IRS as rates rise. More selling, begets more selling, which is no bueno for bond prices.”

The Federal Reserve began a series of interest rate hikes in March 2022, which decreased the liquidity in the financial markets, hurting risk-on assets like Bitcoin.

Bitcoin is trading for $27,483 at time of writing, up 0.2% in the last 24 hours.

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$500,000 Bitcoin (BTC) Price Now on the Table As Classic Indicator Suggests Parabolic Rally Coming: Plan B

https://dailyhodl.com/2023/08/17/500000-bitcoin-btc-price-now-on-the-table-as-classic-indicator-suggests-parabolic-rally-coming-plan-b/

A widely followed crypto analyst says a historically reliable indicator suggests Bitcoin’s (BTC) price may surpass six figures in about a year.

In a new strategy session, quant analyst PlanB tells his 65,200 YouTube subscribers that Bitcoin’s relative strength index (RSI) appears to be repeating a pattern that previously signaled parabolic rallies.

The RSI is an indicator that tracks the momentum of an asset.

Says PlanB,

“It would mean that the RSI is going to rise from here towards the halving. [There will be] volatility, of course. It will not be a straight line. Then a bull market in 2024 with an RSI around 90 – a little above, a little below it – it doesn’t matter. And then a bear market after that in 2025-2026.”

PlanB uses his stock-to-flow (S2F) model to predict Bitcoin’s price in alignment with the forecasted RSI pattern.

The S2F model, traditionally used to track the performance of commodities like precious metals, compares an asset’s price to its available supply.

The model indicates that Bitcoin could hit $60,000 heading into the expected April 2024 halving event, when BTC miners’ rewards are cut in half, followed by a massive move to between $300,000 and $500,000.

“And in Bitcoin price, it will look like this. So we are here at the moment at this $30,000 level, stuck for months there. And in this scenario that I just showed in RSI, this is the price that belongs to that. So it would it would rise with volatility towards the halving around the stock-to-flow value of $60,000.

And then the bull market really goes on, the second stage of the bull market with FOMO (fear of missing out) and greed, and then in this scenario, it’s a rather conservative bull market that bottoms out or flattens out just below the stock-to-flow value of $500,000. So this averages at $300,000, which is still pretty okay, I would guess. It’s 10x from here.”

Source: PlanB/YouTube

Bitcoin is trading for $28,813 at time of writing, down 1.2% in the last 24 hours.

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Rich Dad Poor Dad Author Makes Huge 2024 Bitcoin Prediction Amid BRICS Push To Dethrone Dollar

https://dailyhodl.com/2023/07/11/rich-dad-poor-dad-author-makes-huge-2024-bitcoin-prediction-amid-brics-push-to-dethrone-dollar/

The author of personal finance best-seller Rich Dad Poor Dad is making a huge Bitcoin (BTC) prediction for next year as efforts to dethrone the dollar advance.

Robert Kiyosaki tells his 2.4 million Twitter followers that he believes the king crypto will soar to $120,000 in 2024, a more than 290% increase from its current value of $30,613.

He believes the catalyst for the six-figure growth will be a weakening US dollar due to an economic alliance of nations known as BRICS (Brazil, Russia, India, China, and South Africa) introducing a new currency that’s designed to compete with the US dollar.

Kiyosaki predicts that the new currency will be a gold-backed cryptocurrency.

“August 22, 2023, in Johannesburg, South Africa, BRICS nations announce gold-backed crypto. US dollar will die. Trillions of US dollars rush home. Inflation through the roof. Buy gold, silver. Bitcoin to $120,000 next year.”

The unveiling of the currency is expected during the BRICS Summit in South Africa, which begins August 15th, according to RT.

“BRICS is set to introduce a new currency backed by gold, in contrast to the credit-backed US dollar, with the decision coming a month ahead of the bloc’s summit in Johannesburg. With the growing initiative, more and more countries are lining up to join the group.”

Russia’s embassy in Kenya sent out a viral tweet touting the development.

“The BRICS countries are planning to introduce a new trading currency, which will be backed by gold. More and more counties recently express a desire to join BRICS.”

Kiyosaki has also previously warned that he believes the crisis in the US banking industry is far from over and that a real estate sector crash is coming.

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