Altcoins
‘Be on Guard’: Trader Says Altcoin Bounce May Be Temporary, Tracks Bitcoin’s Next Targets
Published
1 week agoon
By
admin
A widely followed crypto analyst and trader is warning that an altcoin market bounce may end up being short-lived.
In a new post, pseudonymous crypto trader Altcoin Sherpa tells his 243,900 followers on the social media platform X that alts may give up gains after bouncing based on historical precedence.
He also says Bitcoin (BTC) may soon flip $84,000 into support and that the flagship crypto asset could maintain bullish momentum by breaking through the $89,000 level.
“BTC looks like $84,000 is the first test that is going to break (to the upside) and we’re ok in that department. $89,000 would be my next level of interest overall. Alts looking like they’ll give a temporary bounce but not sure how strong (yet). Be on guard.”
Looking at his chart, the analyst suggests that if Bitcoin can regain $98,703 as support, the flagship crypto asset may print new all-time highs.
However, he warns if $78,167 breaks down as support, Bitcoin may plummet into the $60,000 range.
Bitcoin is trading for $84,154 at time of writing, up 4.6% in the last 24 hours.
The analyst also warns that altcoins like the dogwifhat (WIF) memecoin may struggle for a long time to ever regain higher price targets if Bitcoin turns bearish.
“It’s a lot more concerning for sh**coins this go around because BTC might actually be dead for a bit. In the previous drawdown, we had a lot more hope because we assumed BTC still had more upside. If BTC dies to $50,000 or w/e (whatever), these aren’t coming back for a very long time. See WIF.”
WIF is trading for $0.50 at time of writing, up 9.7% in the last 24 hours.
He adds that altcoins may bounce even as they continue to print a bearish lower-high price structure.
“As much as everything is dead and we’re truly in a bear market for altcoins, it’s important to remember that a bounce will come and alts can still do a few x from current levels. Markets don’t move in a straight line down. Bounce coming within the next one to two months in my opinion.”
He shares the two-day chart of Ethereum (ETH) to illustrate the historical precedence of an altcoin bouncing amid a larger downtrend.
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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 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.
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Altcoins
Solana Rises As BlackRock Brings Its $1,700,000,000 Tokenized Treasury Fund to Ethereum Rival’s Chain
Published
9 hours agoon
March 25, 2025By
admin
Solana (SOL) is green on the day on reports that BlackRock is moving its blockchain-based money market fund onto the Ethereum (ETH) competitor’s network.
Fortune reports that the world’s largest asset manager is adding its $1.7 billion BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to the Solana blockchain.
Solana is trading for $145 at time of writing, up nearly 19% in the last week.
Launched a year ago, BUIDL uses traditional money market funds, which investors use to store cash in the near term and earn yield on it, combined with blockchain payment properties.
Solana is now the seventh blockchain compatible with the tokenized money market fund BUIDL, after its initial launch on Ethereum.
BlackRock’s technology partner, Securitize, says the fund is expected to exceed $2 billion in cash and Treasury bills by early April.
Says Michael Sonnenshein, COO at Securitize,
“We’re making [money market funds] unboring. We are advancing and leapfrogging some of the quote-unquote deficiencies that money markets may have in their traditional formats.”
One benefit BUIDL offers over traditional money market funds is 24/7 trading.
Says Lily Liu, president of the Solana Foundation,
“Our vision for why on-chain finance adds more value is because you can do more things with those assets on chain than you could if [they’re] sitting in your brokerage account.”
BUIDL is part of BlackRock’s long-term digital asset strategy, which includes its spot-Bitcoin (BTC) exchange-traded fund (ETF).
According to BlackRock CEO Larry Fink, the future of finance includes the “tokenization of every financial asset.”
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Altcoin
XRP Breakout On Hold? Financial Expert Reveals What’s Missing
Published
15 hours agoon
March 25, 2025By
admin
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XRP remains stuck around the $2 level, with experts issuing warnings of restricted near-term growth prospects. According to recent analysis, the digital currency is going through a phase of uncommon stability that has investors speculating about its next step.
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Investor Sentiment Dampens Market Momentum
According to financial commentator Austin Hilton, millions of crypto traders have withdrawn from active participation. The market is stuck in neutral, as traders are simply waiting for a big event to set things into motion. The volumes of trade have been above $4 billion at peak levels, but the price itself remains virtually unchanged.
Summer Slowdown Impacts Crypto Trading
Analysts cite seasonal patterns as the major reason for XRP’s current behavior. Hilton describes how summer months usually experience lower trading volumes, with investors more inclined to engage in private activities than respond to market activity. This pattern might continue until July, possibly maintaining XRP’s price relatively stable.
A realistic XRP price prediction!
– Lets talk about the resistance levels for $XRP
– Also, discussed are the support levels that you need to know about
– What you need to know about your XRP holdings – so that you can navigate what is going on right now pic.twitter.com/h9kxG3a0Ex— Austin Hilton (@austinahilton) March 23, 2025
Price Barriers Create Market Challenges
Technical analysis indicates key price levels for XRP. Resistance levels are found at $2.61 and $2.81, while support levels are at $2.22 and $2.31. Experts caution that in the absence of heavy buy pressure, the cryptocurrency might not be able to overcome these levels. Currently, XRP is trading at $2.44, with a modest 0.04% gain over the last 24 hours.
XRP market cap currently at $141 billion. Chart: TradingView.com
Long-Term Outlook Remains Hopeful
Despite current market challenges, some experts remain optimistic. Market analyst Dom suggests the current price consolidation might indicate a strong foundation for future growth. Unlike previous market cycles where XRP experienced rapid price spikes and drops, the current stability suggests a more measured approach.
There’s one reason I will be pretty surprised if $XRP does not go higher this year, read along –
Every time $XRP has historically put in a multi month or year top, it did it quickly (as shown below)
Essentially, it never showed any mid term acceptance at those higher… pic.twitter.com/RahjM2xHwz
— Dom (@traderview2) March 24, 2025
A number of possible catalysts are on the horizon, such as developments in XRP ETF products, continued action in the SEC vs. Ripple case, and possible reserve disclosures. As of yet, however, none of these events have caused major market activity.
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Institutional investors remain quietly accumulating digital assets, creating yet another level of sophistication to the current market dynamics. Hilton advises not to anticipate extreme price increases in the near term, highlighting that there needs to be a major positive event for drastic change.
As the cryptocurrency market keeps growing, XRP investors are warned to keep close watch on the market conditions. The fourth quarter could see things pick up once again, but for the meantime, patience seems to be the main approach for those who possess the cryptocurrency.
Featured image from Gemini Imagen, chart from TradingView
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Altcoins
Whales Abruptly Deposit Ethereum Altcoin to Binance and OKX, Causing Price To Plummet 50%: On-Chain Data
Published
1 day agoon
March 25, 2025By
admin
Deep-pocketed traders triggered a price crash over the weekend after depositing a huge chunk of an altcoin’s supply to digital asset exchanges.
According to blockchain tracking firm Lookonchain, whales in the Bounce (AUCTION) market have been greatly influencing the altcoin’s price action for the past week, causing massive swings in both directions.
Bounce Finance is a decentralized auction platform enabling auctions for various assets, such as physical assets tokenized on the blockchain and non-fungible tokens (NFTs).
AUCTION tokens are used for governance, staking, and fees for participating in auctions or creating NFTs on the platform.
Lookonchain says that in the last several days, whales sent over 14% of the circulating supply of AUCTION to Binance, the largest crypto exchange in the world by volume, and OKX. Those deposits presumably led to coins being sold on the open market, which ultimately caused prices to plummet.
Says Lookonchain,
“AUCTION Whales deposited 1.08 million AUCTION ($48.6 million, 14.26% of the total supply) into Binance and OKX again, causing the price to plummet by 50%.
Pay attention to price changes.”
At time of writing, AUCTION has not recovered, currently trading at $20.93 with a market cap of $137 million. AUCTION is ranked as the 363rd-largest crypto asset by market cap.
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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 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.
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