A cryptocurrency analyst and trader is offering his outlook on Bitcoin (BTC) as the flagship digital asset trades in a range.

The analyst and trader pseudonymously known as Rekt Capital tells his 108,000 YouTube subscribers that Bitcoin is in a “transitional period” that could result in a price correction preceding a rally.

According to the pseudonymous analyst, Bitcoin could first reclaim a major support level before an uptrend ensues.

“So in the short term, maybe we could still see a bit of that downside deviation. But right now, the key level to reclaim is at least $104,400. That’s the level to reclaim as a support. We held this level for six, really, almost seven full weeks in total.”

Rekt Capital says that if the $104,400 support level holds, Bitcoin could then attempt to flip the current range high and resistance level of around $109,000 into a support zone. According to the pseudonymous analyst, the new support zone, if confirmed, could act as a springboard for another leg up.

“[Reclaiming] this level [around $109,000] as a support and doing that successfully would see it actually transition into that next uptrend….

If we do break out here, and once we’ve confirmed that breakout, then multiple weeks of upside should emerge from that…

So it’s going to be really important for price to finally confirm its breakout. And once it’s done that, we’re going to have a bit of time to enjoy that upside into new all-time highs.”

Bitcoin is trading at $106,710 at time of writing.

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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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May 13th Bitfinex alpha | The thriving period has returned to Bitcoin

After more than three months of immobilising military writing, Bitcoin officially regained a $100,000 milestone, demonstrating its strength in rebirth. This recovery comes after prices fell 32% from their historic peak in January. It is motivated by cooling tariff tensions and positive macroeconomic factors that have begun to feel comfortable with the policy tone (Dovish).

It is worth noting that cash flow to Bitcoin appears to be sustainable. This is reflected in the real capital reaching new record highs above the $920 million threshold in just two weeks and cash flows to ETF funds. On-chain data also shows that the number of BTC holdings has declined sharply, with over 3 million BTC returning to the interest area. Combining the organization-led increased trading volume and ETF cash flow, Bitcoin is currently on a solid foundation. As long as macro conditions are still supported, short-term reductions will soon be absorbed, strengthening expectations for price rises and paving the path to Bitcoin to new heights.

Meanwhile, the Federal Reserve maintains interest rates in fear of rising inflation and unemployment, simultaneously escalating, highlighting the risk of “stagflation.” President Jerome Powell has highlighted uncertainty about the economic outlook, saying the Fed needs more data before deciding on the next lawsuit. The market is hoping to cut interest rates in July, but the Fed remains cautious and prioritizes price stability rather than a quick response to slow growth.

In the energy sector, crude oil prices have plummeted due to an increase in OPEC+ target output, but US gasoline prices remained high and stubborn due to their tight oil filtration capabilities and seasonal demand. This difference, derived from refinery knots and processing profit benefits, indicates that retail fuel costs can only be reduced if supply problems are resolved and crude prices remain at a low level.

The US English Trade Agreement has only recently been praised. It also provides very modest economic benefits. Tariffs on some items, such as UK cars and US produce, have been declining, but the contract does not have comprehensive overall compensation and offers only small benefits, but the larger trade challenges are not addressed.

It put pressure on the economy, adding labor productivity in the US for the first time in nearly three years, and labor costs for each unit have skyrocketed, impacted by tariffs and trade interruptions. Companies struggle with increasing payroll costs and decreasing efficiency, which can lead to reduced profit margins and shy investments unless productivity is recovered or trade stress is alleviated.

In the Crypto world, new developments show growing interest from organizations and governments, but there are still many legal and political barriers. New Hampshire created a breakthrough when it became the first state in the United States through laws that allowed investment in cryptocurrencies and precious metals. The move reflects the consolidated trend in digital assets at the state level amid continuing national policy debate.

Meanwhile, Washington’s legislation continued. The US Senate was unable to pass the Genius Law bill with a 48-49 turnout, and the three senators did not vote and were asked to be reconsidered. This illustrates the difficulty of achieving bisexual consensus on major bills related to the economy and innovation. In the private sector, BlackRock promotes its role by meeting with the U.S. Stock Exchange (SEC) committee, discussing the introduction of staking functions and improving options trading rules for crypto ETFs. This conference was a key development step in managing Digital Assets, with BlackRock supporting staking on ETF-based Ethereum-based ETFs and expanding product capabilities. This also reflects a shift in the SEC approach as agents actively form digital property spaces.

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]]> https://earlybirdsinvest.com/bitfinex-alpha-the-thriving-period-has-returned-to-bitcoin/feed/ 0 36149 https://earlybirdsinvest.com/president-trump-substantially-increased-wealth-in-short-period-of-time-after-crypto-foray-says-nonprofit/ https://earlybirdsinvest.com/president-trump-substantially-increased-wealth-in-short-period-of-time-after-crypto-foray-says-nonprofit/#respond Mon, 05 May 2025 04:57:21 +0000 https://earlybirdsinvest.com/president-trump-substantially-increased-wealth-in-short-period-of-time-after-crypto-foray-says-nonprofit/

A nonprofit organization says President Donald Trump has significantly increased his net worth in a short time after venturing into the world of crypto assets.

According to a new study conducted by State Democracy Defenders Action, a nonprofit group dedicated to ending autocracy in the US, Trump has not only increased his wealth through crypto but has set himself up to earn more profits in the future.

The study further says that Trump’s position of power has allowed him to loosen regulatory policies on tokens associated with his decentralized finance (DeFi) platform World Liberty Financial (WLFI), which was founded in September 2024.

“President Trump’s recent foray into crypto assets has allowed him to substantially increase his wealth in a relatively short period of time. Trump will likely profit more from them in the future now that one of the companies he is affiliated with has added a new stablecoin to its portfolio.

Unlike other executive branch employees, he is not subject to the primary criminal conflict of interest law, which has allowed him to adopt regulatory policies that favor private sector stablecoins like those offered by WLFI.”

Citing Fortune, the study finds that Trump’s $2.9 billion worth of cryptocurrencies comprise 37% of his total assets, which amount to $7.7 billion. The study concludes by noting that Congress has the power to stop Trump from profiting from digital assets.

“The regulation of digital assets is in its nascency, but rather than divest his crypto assets to avoid any possible conflict of interest, President Trump seems to have positioned himself to maximize profiting from them by adopting a less aggressive regulatory and enforcement program than his predecessor.

Congress has a unique opportunity to prevent President Trump and future presidents from using their public office for private gain by adopting legislation barring them and other elected officials from holding stablecoins and other digital assets.”

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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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