Ethereum whale demand surges as a bullish pattern nears breakout above $2,830.
An analyst known for making timely altcoin calls believes that one memecoin running on Solana ( SOL ) is gearing up for a huge upside burst. Pseudonymous analyst Bluntz tells his 319,800 followers on the social media platform X that he sees the memecoin SPX6900 ( SPX ) igniting steep surges based on the principles of the Elliott Wave theory, an advanced technical analysis approach that tries to predict future price action by following crowd psychology that tends to manifest in waves. According to the theory, a bullish asset tends to witness a five-wave rally, with wave three representing the longest and steepest upside move. Says Bluntz, “SPX looks insane in my opinion, it looks like the entire price action from the March lows is all 1-2s and hasn’t even had a wave three yet, setting the stage for a full-blown parabola later.” Source: Bluntz/X Based on the trader’s chart, he seems to predict that SPX will rally to $2.20. At time of writing, SPX is worth $1.10. The analyst is also bullish on dogwifhat ( WIF ), another Solana-based memecoin. The trader predicts that WIF will hit $1.25 in the near term. “What a move on WIF already, well and truly reclaimed the range, and looking impulsive in my opinion, I think this pullback was a wave four low.” Source: Bluntz/X At time of writing, WIF is worth $0.97. Looking at the broader altcoin market, Bluntz believes that one group of coins has the potential to outperform all other tokens. “When the real altcoin bid returns, memes are always the strongest. It really doesn’t matter how badly you want fundamentals to matter, it won’t, because at the end of the day, it’s all vaporware anyway, and we all know it.” But beyond the crypto market, the trader says he has his eye on silver, an asset that he thinks can shatter its all-time high of around $50. “Silver/gold ratio looks like it’s starting to roll over with silver in USD gearing up finally for a major breakout. Relative to gold price action, $75 silver not outside the realm of possibility in my opinion.” Source: Bluntz/X At time of writing, silver is worth $34.50. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix 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 losses 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. Generated Image: Midjourney The post Analyst Says Solana-Based Memecoin Setting Stage for ‘Full-Blown Parabola,’ Predicts New All-Time High for One Asset appeared first on The Daily Hodl .
The Federal Reserve’s latest Beige Book reveals a subtle cooling in U.S. economic activity, a development that holds significant implications for the crypto market. This comprehensive report highlights regional disparities
BitcoinWorld Bitcoin Investment: Bitwise CEO Hunter Horsley Sees Prime Opportunity as Crypto Risk Falls Are you considering diving deeper into the world of digital assets? The landscape of Bitcoin investment is constantly evolving, and according to a prominent voice in the sector, the timing might be better than ever. Hunter Horsley, the Bitwise CEO , recently shared his perspective, suggesting that conditions are aligning favorably for those looking at Bitcoin. Bitwise CEO Hunter Horsley’s Take on Reduced Crypto Risk Hunter Horsley, the head of Bitwise Asset Management, a leading crypto asset manager, has made a notable statement regarding the current state of the market. Speaking with CNBC, Horsley indicated that he believes now represents an opportune moment for investors interested in Bitcoin. His conviction stems from a perceived “substantial” reduction in the overall crypto risk associated with the asset class. Investing inherently involves taking on some level of risk. However, Horsley’s point, as reported by The Daily Hodl, is that the most significant, foundational risks that once characterized the flagship cryptocurrency have considerably diminished. This shift, in his view, fundamentally alters the risk-reward profile for potential investors. Why is Crypto Risk Perceived as Lower Now? While the original report doesn’t detail every reason behind Horsley’s assessment, market observers point to several factors that contribute to a potential reduction in crypto risk compared to previous cycles: Market Maturity: The infrastructure around Bitcoin, including exchanges, custody solutions, and analytical tools, is far more developed than it was years ago. Institutional Adoption: Increased participation from large financial institutions, corporations, and even governments adds stability and legitimacy to the market. Regulatory Clarity (Emerging): While still evolving globally, there is increasing clarity and frameworks being developed in various jurisdictions, reducing uncertainty. Reduced Existential Threats: Early concerns about the fundamental viability or security of the Bitcoin network have largely subsided. This combination of factors suggests a market that, while still volatile, may present fewer unknown unknowns than in its nascent stages, potentially lowering the barrier for Bitcoin investment . Unlocking the Bitcoin Opportunity: Before Mainstream Recognition? Horsley’s comments highlight a specific window he sees opening. He suggests that the current environment presents a strong Bitcoin opportunity for those who get involved before Bitcoin achieves full mainstream recognition and widespread adoption. This perspective implies that while risk has decreased, significant growth potential remains before the asset becomes a standard component of every investor’s portfolio. This isn’t to say that volatility is gone. Price swings are still a characteristic of the crypto market. However, the argument is that the underlying systemic risks have lessened, making the speculative risk potentially more palatable for certain investors seeking exposure to this asset class. Navigating the Path Ahead: Considerations for Bitcoin Investment For individuals considering Bitcoin investment based on views like those of the Bitwise CEO , it’s crucial to approach it with a clear strategy. While the perceived reduction in crypto risk is a positive signal, it doesn’t eliminate the need for due diligence. Key considerations include: Investment Horizon: Are you investing for the short term or long term? Bitcoin has historically performed well over multi-year periods. Risk Tolerance: Despite reduced foundational risk, market price volatility remains high compared to traditional assets. Portfolio Allocation: How much of your overall investment portfolio are you comfortable allocating to a high-growth, high-volatility asset like Bitcoin? Understanding the Technology: Basic knowledge of how Bitcoin works and its value proposition is essential. Hunter Horsley’s outlook provides a compelling perspective, suggesting that the market dynamics have shifted to favor investors looking for the next major growth opportunity. This potential Bitcoin opportunity , coupled with lower foundational risk, makes the current period particularly interesting. Conclusion: A Prime Moment for Bitcoin? The message from Bitwise CEO Hunter Horsley is clear: the investment landscape for Bitcoin has matured, leading to a substantial reduction in underlying crypto risk . This decrease in risk, combined with the potential for significant growth before complete mainstream saturation, creates what he sees as a prime Bitcoin opportunity . While market volatility remains a factor, the foundational elements supporting Bitcoin investment appear stronger than ever, offering a compelling case for potential investors to consider the asset at this juncture. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin institutional adoption . This post Bitcoin Investment: Bitwise CEO Hunter Horsley Sees Prime Opportunity as Crypto Risk Falls first appeared on BitcoinWorld and is written by Editorial Team
Stablecoin firm Circle priced its shares at $31, above the marketed range, ahead of its trading debut on the NYSE under ticker CRCL.
COINOTAG News reports that tensions between Elon Musk and former President Trump have escalated following Musk’s public condemnation of the Republican Party’s recent tax and spending legislation. Sources from The
BitcoinWorld Federal Reserve Beige Book Reveals Worrying Economic Activity Decline Attention, crypto investors! While your focus might often be on Bitcoin charts and altcoin trends, major macroeconomic reports like the Federal Reserve’s Beige Book can significantly influence the landscape of the crypto market . Understanding these reports is crucial for navigating the current economic climate. The latest Beige Book has just landed, offering a snapshot of economic conditions across the Fed’s 12 districts. The headline finding? A slight decrease in overall economic activity . But what does this detailed report from the Federal Reserve truly tell us, and why should you care if you’re invested in digital assets? Understanding the Federal Reserve’s Beige Book Before diving into the specifics, let’s clarify what the Beige Book is. Published eight times a year, roughly two weeks before each Federal Open Market Committee (FOMC) meeting, the Beige Book provides anecdotal information on current economic conditions by district. It’s compiled from reports by Reserve Bank contacts, gathered through interviews with business contacts, economists, market experts, and other sources. Think of it as a qualitative report offering on-the-ground insights that complement the quantitative data the Fed analyzes. It covers various sectors, including consumer spending, manufacturing, real estate, and labor markets. The Federal Reserve uses this information to help inform its monetary policy decisions, making it a closely watched report by economists and market participants alike. Decoding the Findings: What Did the Report Reveal About Economic Activity? The key takeaway from the recent report is the slight decline in overall economic activity . This isn’t a widespread collapse, but rather a subtle cooling reported across several regions. Here’s a breakdown of the general picture: Overall Trend: Most districts reported either no change or slight declines in activity. This suggests a broad-based, albeit gentle, slowdown rather than an isolated issue. Mixed Regional Performance: While the national picture showed a slight dip, the report highlighted variations. Some regions noted improved conditions or positive outlooks, while others saw activity soften further or expressed concerns about the future. This divergence indicates uneven economic performance across the country. Sector-Specific Weakness: Certain sectors might be experiencing more pronounced slowdowns than others, although the initial summary points to a general moderation rather than deep distress in any single area. This reported dip in economic activity is a signal that previous economic momentum might be fading, which has direct implications for employment, consumer spending, and overall business health. Inflation Watch: What Does the Beige Book Say About the Inflation Rate? Another critical component of the Beige Book is its assessment of prices and wages, which provides insight into the current inflation rate . The latest report suggests that inflation is expected to continue at a moderate rate. Why is this significant? It indicates that while inflation may have peaked from its highest levels, it hasn’t yet fallen back to the Fed’s target rate. The persistence of a moderate inflation rate means: The cost of goods and services is still rising, albeit perhaps at a slower pace than before. Businesses may still face pressure from higher input costs, potentially impacting their profitability. Crucially, it suggests that the Federal Reserve’s fight against inflation is not yet over. This persistent moderate inflation rate complicates the Fed’s job. They are balancing the goal of bringing inflation down with the risk of causing a significant recession by tightening monetary policy too aggressively. The Beige Book’s qualitative data on price pressures provides valuable context for this delicate balancing act. How Does This Economic Picture Impact the Crypto Market? Now, let’s connect the dots to the world of digital assets. The findings in the Beige Book have several potential implications for the crypto market : Risk-Off Sentiment: A reported decline in economic activity can fuel concerns about a potential recession. In such an environment, investors often become more risk-averse, pulling money out of assets perceived as riskier, which can include cryptocurrencies. Fed Policy Expectations: The Beige Book is a key input for the Federal Reserve’s decision-making. If the economic slowdown becomes more pronounced, it could signal that the Fed might pause or even reverse its interest rate hikes sooner than previously expected. Conversely, persistent inflation might necessitate continued tightening. Changes in expected Fed policy can cause significant volatility in the crypto market . Inflation Hedge Narrative: The continued forecast of a moderate inflation rate could potentially reinforce the narrative for assets like Bitcoin as a hedge against inflation. However, this narrative has been tested during recent tightening cycles, and crypto has often traded more like a risk-on tech asset. Liquidity: Monetary policy directly impacts liquidity in the financial system. If the Fed continues to drain liquidity (e.g., through quantitative tightening or high interest rates), it can reduce the capital available to flow into speculative assets like crypto. A slowing economy might influence the pace of this liquidity drain. Understanding the nuances of reports like the Beige Book helps crypto investors anticipate potential shifts in market sentiment and macro drivers. Actionable Insights for Crypto Investors Given the Beige Book’s insights into slowing economic activity and persistent inflation rate concerns, what steps can crypto investors consider? Stay Informed: Don’t just follow crypto news. Pay attention to major economic reports and central bank commentary. The Federal Reserve is a major player influencing global liquidity. Understand the Macro Link: Recognize that the performance of the crypto market is increasingly tied to broader macroeconomic conditions and central bank actions. Assess Risk Tolerance: A slowing economy can increase market volatility. Ensure your portfolio aligns with your risk tolerance, especially if you anticipate further economic headwinds. Diversify (Wisely): Consider how different assets in your portfolio might perform in various economic scenarios (slowdown, persistent inflation). Watch Fed Communication: The next FOMC meeting will be crucial. The Beige Book provides context for the decisions that will be made regarding interest rates and monetary policy. Challenges and Opportunities The slight decline in economic activity presents challenges, such as potential recession risks and continued market uncertainty. However, it also presents potential opportunities. If the economy slows significantly, it could eventually lead the Federal Reserve to ease monetary policy, which has historically been a tailwind for risk assets, including the crypto market . The persistence of the inflation rate remains a challenge, forcing the Fed to maintain a cautious stance. Navigating this environment requires patience and a clear understanding of the forces at play. Conclusion The Federal Reserve’s latest Beige Book offers a valuable, albeit slightly concerning, look at the U.S. economy. The report of a slight decline in overall economic activity , coupled with expectations for a moderate inflation rate , paints a picture of an economy that is cooling but still facing price pressures. These factors are highly relevant to the crypto market , influencing everything from investor sentiment to expectations around future Fed policy. While the Beige Book doesn’t offer specific crypto trading signals, it provides essential context for the macroeconomic environment in which digital assets operate. Staying informed about these reports and understanding their potential impact is a key part of navigating the complexities of the current market landscape. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin and Ethereum price action. This post Federal Reserve Beige Book Reveals Worrying Economic Activity Decline first appeared on BitcoinWorld and is written by Editorial Team
Binance has introduced the 1000000BOB/USDT perpetual futures contract, providing traders with up to 50x leverage and expanding its derivatives portfolio significantly. This new futures product is poised to increase trading
California is advancing a groundbreaking initiative to seize unclaimed Bitcoin from dormant wallets under state escheatment laws, signaling a new regulatory frontier in cryptocurrency asset management. This move reflects growing
WisdomTree’s WTGXX digital fund, leveraging Ethereum blockchain technology, has impressively reached $300 million in assets under management (AUM), signaling robust investor confidence in crypto-backed government money market funds. This milestone