Cardano’s recent market performance indicates a turbulent yet pivotal moment, as support levels are tested amidst trading volatility. Cardano fell 5.70% to $0.7709 after breaking out of a falling wedge
In a significant move, Wisconsin’s retirement fund, SWIB, has divested from BlackRock’s Bitcoin ETF, highlighting shifting strategies in cryptocurrency investments. This sell-off comes as state and institutional investors reassess their
Market got reset during most recent correction, but rebound might not come fast enough
Blockchain tracking platform Lookonchain says a crypto trader has turned less than ten thousand dollars into millions in just one month by betting on a crypto project built in the Solana ( SOL ) ecosystem. According to Lookonchain, the unidentified trader purchased the native token of the social finance (SocialFi) crypto project Launch Coin on Believe ( LAUNCHCOIN ) worth approximately $9,075 and turned it into $4.7 million, a 517x return. Source: Lookonchain/X Lookonchain further says another trader, pseudonymously known as Pow, has recorded an over 7x return on LAUNCHCOIN. “From near zero to $2.7 million — absolute legend! Three months ago, @traderpow spent 1,466 SOL ($367,000) to buy 17.66 million LAUNCHCOIN, only to watch it crash approximately 99%. But he held on. Now, with LAUNCHCOIN breaking a $150 million market cap, his 17.66 million LAUNCHCOIN is worth $2.7 million!” Source: Lookonchain/X The blockchain tracking platform is also highlighting a trader who recorded a loss running into hundreds of thousands of dollars following a slump in the price of LAUNCHCOIN about three months ago. “If this trader had been more patient, he could have made $7.3 million instead of losing $800,000. Three months ago, he bought 45 million LAUNCHCOIN near the top, spending approximately $828,000. But shortly after, LAUNCHCOIN crashed by over 90%. He sold all 45 million LAUNCHCOIN (now valued at $8.2 million) for only $29,000 at a loss of $800,000.” Source: Lookonchain/X Source: Lookonchain/X LAUNCHCOIN is trading at $0.191 at time of writing, up by 7,000% from the May 8th low of $0.00269. LAUNCHCOIN currently ranks 316th by market cap, which is slightly over $195 million. 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 Crypto Trader Prints 517x Profit on Solana-Based Altcoin That’s Exploded 7,000% in Just One Week: Lookonchain appeared first on The Daily Hodl .
BitcoinWorld Bitcoin Price Prediction: Unlocking Massive Growth Potential Thinking about where Bitcoin is heading? You’re not alone! The world of cryptocurrency is constantly buzzing with speculation, and understanding the potential trajectory is key for anyone involved. Let’s dive deep into the latest Bitcoin price prediction and what factors are shaping its path forward. What Factors Influence the BTC Price Forecast? Predicting the price of any asset, especially one as volatile as Bitcoin, is complex. However, several key elements consistently impact the BTC price forecast . Understanding these can give you a clearer picture. Supply and Demand: Like any asset, basic economics play a huge role. Limited supply (only 21 million will ever exist) combined with increasing demand tends to drive prices up. Regulatory News: Government regulations or lack thereof in major economies can significantly sway market sentiment and, consequently, Bitcoin’s price. Technological Developments: Upgrades to the Bitcoin network or wider adoption of blockchain technology can increase confidence and utility. Macroeconomic Factors: Global economic stability, inflation rates, and interest rates can push investors towards or away from perceived riskier assets like Bitcoin. Market Sentiment and News: Hype, fear, major news events, and even social media trends can cause rapid price movements. Decoding the Latest Crypto Market Analysis Experts use various tools and data points for crypto market analysis to arrive at their predictions. This often involves looking at historical price data, trading volumes, on-chain metrics (like active addresses or transaction counts), and global economic indicators. Recent analysis suggests a few potential scenarios. Some analysts point to strong accumulation patterns, indicating institutional interest and potential upward pressure. Others remain cautious, citing potential regulatory hurdles or broader market downturns. It’s a landscape of varied opinions, making thorough research crucial. Exploring the Future of Bitcoin: Beyond Just Price? When we talk about the future of Bitcoin , it’s not just about the price tag. It’s also about its role in the global financial system. Will it become a widely accepted medium of exchange? Will it solidify its position as ‘digital gold’ – a store of value akin to precious metals? Or will new technologies challenge its dominance? Many believe Bitcoin’s first-mover advantage and robust, decentralized network give it staying power. Its increasing adoption by major companies and financial institutions signals a potential shift from niche technology to mainstream asset. However, challenges like scalability and environmental concerns related to mining are ongoing discussions. Actionable Insights for Bitcoin Investment So, what does all this mean for someone considering Bitcoin investment ? Here are a few actionable insights: Do Your Own Research (DYOR): Don’t rely solely on predictions. Understand the technology, the market, and the risks involved. Consider Dollar-Cost Averaging (DCA): Instead of investing a lump sum, invest a fixed amount regularly (e.g., weekly or monthly). This can help mitigate volatility risk. Think Long-Term: Bitcoin is a volatile asset. Short-term price swings are common. Many investors approach Bitcoin with a long-term perspective, focusing on its potential over several years. Manage Risk: Only invest what you can afford to lose. Diversify your portfolio; don’t put all your eggs in the Bitcoin basket. Stay Informed: Keep up with news, regulatory developments, and technological advancements in the crypto space. Understanding the market dynamics and having a clear strategy is vital for navigating the potential opportunities and risks associated with Bitcoin. Concluding Thoughts on Bitcoin’s Trajectory In summary, the Bitcoin price prediction landscape is dynamic and influenced by a confluence of factors, from market sentiment and regulatory news to global economic trends. While predicting the exact price is impossible, understanding the underlying forces and leveraging insights from crypto market analysis can inform your approach. The future of Bitcoin appears promising to many, driven by increasing adoption and its unique properties as a decentralized digital asset. For those considering Bitcoin investment , a cautious, long-term perspective coupled with diligent research and risk management is always recommended. Bitcoin continues to be a fascinating and potentially transformative asset to watch. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action. This post Bitcoin Price Prediction: Unlocking Massive Growth Potential first appeared on BitcoinWorld and is written by Editorial Team
Cardano fell 5.70% to $0.7709 after breaking out of a falling wedge on the 3-day chart. Retail long bias is high, but fading short-term activity limits breakout strength. Cardano [ADA] is trading just above a key support level after breaking out of a multi-month falling wedge pattern on the 3-day chart, sparking bullish hopes. At press time, ADA traded at $0.7709, down 5.70% in 24 hours. Therefore, bulls face pressure to reclaim momentum. If the support level fails, downside risks could increase. However, a sustained defense here could reopen the path to $0.84 and higher targets. Are exchange outflows pointing to accumulation? Exchange data shows $9.18 million in net outflows as of the 15th of May. This suggests traders are moving assets off platforms. Typically, such moves indicate accumulation and reduced sell pressure. Therefore, this trend supports a potential bullish outlook if sustained. Cardano may benefit if these outflows continue while the price stabilizes above support. However, if outflows stall and selling resumes, the case for further upside weakens. Source: Coinglass Does retail sentiment lean too heavily on optimism? Retail traders are heavily biased toward the upside. Binance data showed 89.56% of accounts are long on ADA. Only 10.44% were short. This extreme imbalance shows strong optimism but also increases downside risk. If the price dips below $0.75, cascading long liquidations could follow. Therefore, this one-sided positioning remains a double-edged sword. Bulls must stay alert and ready to defend critical levels. Otherwise, retail exuberance could quickly turn into panic selling and intensify the decline. Source: Coinglass Why is ADA’s Funding Rate not supporting the bullish bias? Despite the bullish tilt in positioning, Funding Rates tell a different story. ADA’s OI-Weighted Funding Rate remained at 0.0054%. This flat rate shows that leveraged traders are not confident. Therefore, open interest remains shallow despite optimism. Without stronger leverage inflows, ADA may lack the push to break above resistance. Thus, the spot market is doing the heavy lifting for now. Realized Cap HODL Waves showed a decline in both 0–1 day and 1–7 day holders. This drop means short-term traders are exiting. Fewer short-term movements suggest waning speculative momentum. Therefore, ADA is likely being driven by longer-term positioning. This could help stabilize price action near support. However, without fresh demand, a strong rally may struggle to emerge. Source: Santiment Where are the key liquidity targets now? Liquidation Heatmaps show heavy activity near $0.76, $0.78, and $0.82. These zones will attract price volatility. If ADA surges above $0.78, short liquidations may fuel a sharper move. This could push the price toward $0.84. However, if the price dips below $0.75, long liquidations may occur. These liquidity zones create immediate targets for price action. Source: CoinGlass Conclusively, ADA remains in a bullish structure but faces growing uncertainty. Spot accumulation and wedge breakout favor upside. However, fading speculative interest and flat funding suggest hesitation. If bulls defend $0.75 and reclaim $0.78, targets at $0.84 and $1.00 become realistic. Otherwise, failure here could shift momentum to the bears.
Law firms have been advising on fintech regulation to keep pace with innovation in digital assets
The State of Wisconsin Investment Board (SWIB), which oversees the state’s retirement funds, unloaded its shares in BlackRock’s iShares Bitcoin Trust ETF (IBIT) during the first quarter, filings show. The Wisconsin Investment Board reported no spot Bitcoin ETF positions in its 13F filing to the US Securities and Exchange Commission on May 15, liquidating all 6,060,351 IBIT shares it reported holding from the previous quarter. The more than 6 million IBIT shares are worth around $355.6 million at current prices. SWIB was one of the first state investment funds to provide Bitcoin exposure to US retirees when it bought $164 million worth of Bitcoin ETFs in Q1 2024 — the same quarter the Bitcoin products launched. Source: Julian Fahrer The mass sell-off comes only a quarter after SWIB reported additional purchases of IBIT shares in Q4, while reallocating all 1 million shares held in the Grayscale Bitcoin Trust (GBTC) to IBIT. SWIB reported managing more than $166 billion worth of assets at the end of 2024, meaning the Bitcoin ETFs represented around 0.2% of SWIB’s entire portfolio before it sold them off. Related: Jim Chanos takes opposing bets on Bitcoin and Strategy Meanwhile, Abu Dhabi sovereign wealth fund Mubadala snapped up another 491,439 shares of IBIT in Q1, according to its latest 13F filing. Its purchases brought Mubadala’s total IBIT shares to 8,726,972 as of March 31, worth around $512 million at current prices. IBIT has been on a tear IBIT’s net inflows surpassed the $45 billion mark on May 14 after recording a net inflow of $232.9 million, Farside Investors data shows. IBIT’s impressive 20-day streak of net inflows came to an end the day before — May 13 — when it registered a “0” inflow on the day. The BlackRock-issued Bitcoin product still hasn’t seen an outflow since April 9 — more than five weeks ago. The Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARK) trail IBIT in all-time net inflows at $11.6 billion and $2.7 billion, respectively. Flow data of the 11 US-based spot Bitcoin ETFs since April 28. Source: Farside Investors Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
The US Department of Justice has indicted 12 individuals in a massive $263 million cryptocurrency fraud scheme, highlighting ongoing federal efforts to combat cybercrime. This indictment follows the arrest of
The U.S. Department of Justice will drop part of one count of its case against Tornado Cash developer Roman Storm due to a recent policy memo, the agency said Thursday. The DOJ will not go to trial on a charge alleging Storm failed to comply with money transmitter business registration rules, but still plans to go to trial in July over allegations he knowingly transmitted funds tied to crimes, conspired to commit money laundering and conspired to violate sanctions law, the DOJ said in a letter filed to the judge overseeing its case. "The Government writes to update the Court regarding this case, which is scheduled for trial on July 14, 2025," the letter said. "After review of this case, this Office and the Office of the Deputy Attorney General have determined that this prosecution is consistent with the letter and spirit of the April 7, 2025 Memorandum from the Deputy Attorney General." The April 7 memo, authored by Deputy Attorney General Todd Blanche, directed prosecutors not to pursue cases where regulations may be unclear, or did not meet certain criteria, specifically saying the DOJ should end "regulation by prosecution." Prosecutors in another case against the developers of crypto mixer Samourai Wallet have already asked a judge overseeing that case to pause it while they consider the memo. In a statement, Brian Klein of Waymaker LLP told CoinDesk that his firm, which represents Storm, believes "that this case should never have been brought." "Its dismissal would be consistent with the policies of the Trump Administration and the principles outlined by the Department of Justice in its recent cryptocurrency guidance memo," he said. "Roman’s prosecution is a threat to the entire crypto industry and the interests of justice will be best served by its swift dismissal. We will not cease to fight for Roman and that result." Klein spoke at CoinDesk's Consensus 2025 conference in Toronto on Wednesday, where he also shared his view that the case should not have been brought. "One of the defenses we've raised, which is recognized in the U.S., is that coding — literally typing out code — you are given free speech protections for coding," he said. "It's just as if you wrote a book or you did some other type of expressive activity."