A morning soundbite from Treasury Secretary Scott Bessent briefly rattled Bitcoin and crypto markets on Thursday before a late-day clarification restored the policy baseline: the United States won’t be sellers, and “budget-neutral” options to grow the country’s bitcoin stockpile remain on the table. Senator Cynthia Lummis swiftly framed the endpoint. “America needs the BITCOIN Act,” she wrote, calling the legislation the operative blueprint for expanding a Strategic Bitcoin Reserve without tapping taxpayers.

In a Fox Business hit that ricocheted across X, Bessent said the government is “not going to be buying” additional bitcoin and added, “We’re going to stop selling that,” referencing a reserve he valued between $15 billion and $20 billion. Markets faded into the statement; by mid-day, bitcoin was off roughly 3.7%. The point that stuck—“we’re not going to be buying”—was clipped and shared widely, but it was only half the story.

Related Reading

Hours later, Bessent posted a clarifying note. “Bitcoin that has been finally forfeited to the federal government will be the foundation of the Strategic Bitcoin Reserve that President Trump established in his March Executive Order,” he wrote. “In addition, Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve, and to execute on the President’s promise to make the United States the ‘Bitcoin superpower of the world.’” The course correction aligned his comments with the administration’s March directive and the policy discussion that has matured since.

Bitcoin Act Is Still The Way Forward

Lummis, chair of the Senate Banking Subcommittee on Digital Assets, seized the moment to underline the fiscal constraint. “Secretary Scott Bessent is right: a budget-neutral path to building SBR is the way. We cannot save our country from $37T debt by purchasing more bitcoin, but we can revalue gold reserves to today’s prices & transfer the increase in value to build SBR. America needs the BITCOIN Act.” In a separate reply to Bessent, she added: “I have a ₿ill for that.”

Her posts also flagged ongoing work “with Scott Bessent & Howard Lutnick to identify budget-neutral ways to continue growing our bitcoin reserve & outpacing adversaries in the race.”

The legal and administrative scaffolding for a Strategic Bitcoin Reserve was set five months ago. On March 6, President Trump signed an executive order creating the SBR and a separate US Digital Asset Stockpile, directing agencies to capitalize the reserve with Bitcoin “finally forfeited” to the government and to develop budget-neutral strategies for further acquisition.

Related Reading

Lummis’s “BITCOIN Act” would take that framework from executive policy to statute and goes considerably further. The latest text lays out a five-year purchase program authorizing up to 200,000 BTC per year—1,000,000 BTC in total—paired with a 20-year minimum holding period and a quarterly, public cryptographic proof-of-reserves regime.

Where Bessent’s remarks intersect—and diverge—with that legislative ambition is gold. In March, he downplayed a formal revaluation of US gold as a credible budget lever, even as the broader policy conversation around the asset side of the federal balance sheet intensified. On Thursday, Bessent told Fox Business that a gold revaluation is “unlikely.” Lummis, by contrast, is explicitly proposing to mark gold to market in order to seed the SBR without new borrowing—an idea that has migrated from think-piece fodder to bill text but still faces macro, legal, and central-bank-independence scrutiny.

The bottom line is that Thursday did not mark a policy reversal so much as a restatement of sequencing. The executive branch will build the Strategic Bitcoin Reserve first with finally forfeited coins and, per Bessent’s clarification, is actively evaluating budget-neutral ways to expand it.

At press time, BTC traded at $118,751.

Featured image created with DALL.E, chart from TradingView.com

The Binance Coin (BNB) market is showing high levels of bullishness, marked by an 8.92% price gain in the past week. The Binance exchange’s native cryptocurrency now trades above $800 and is merely 6% from returning to its all-time high figure. Interestingly, striking similarities between BNB’s current chart structure and Bitcoin’s trajectory in earlier phases of its bull cycle indicate the altcoin could be in the early stages of a major price rally.

Related Reading

Technical Patterns Suggest BNB Could Surge By Over 50%

In an X post on August 9, Ali Martinez highlights upside potential in the BNB market after weekly price data from TradingView suggests the altcoin is replicating Bitcoin’s price movement. Notably, the premier cryptocurrency is currently trading at approximately $116,769, having recently broken through multiple key resistances at $82,500, $95,000, and $110,000.

From the chart above, the similarities between BNB and Bitcoin’s price are easily seen moving through phases of accumulation, breakout, and rapid expansion.

For BTC, traders can observe a prolonged sideways range between mid-2022 and 2023, fluctuating between roughly $15,000 and $25,000, before a steady climb accelerated sharply past the $70,000 and $82,500 resistance in late 2024. Thereafter, the crypto market leader surges towards higher price targets at $95,000, $110,000, and $120,000.

Interestingly, BNB’s trajectory mirrors this pattern, with a long consolidation between $200 and $350 from 2022 to 2023, followed by a breakout above $450 and a decisive move past $700 in 2024. Presently, the altcoin finds itself trading at minor resistance at $800, similar to the $80,000 level in the BTC market.

If the parallel continues, clearing the mid-cycle resistance at $700 should unleash a strong bullish momentum, which easily pushes BNB towards $950. Thereafter, the cryptocurrency may experience an intense correction, falling to around $777, before climbing towards $1,200 to produce a 50% gain from current market prices.

However, while chart similarities offer compelling insights, they do not guarantee identical outcomes. Macroeconomic conditions, regulatory events that affect Binance could impact the BNB’s rally. Alternatively, the potential of an impending altseason may cause BNB to deviate from the observed parallel performance, causing the altcoin to outperform Bitcoin.

Related Reading

BNB Price Overview

At press time, BNB trades at $810 after a slight 1.78% gain in the last 24 hours. On larger timeframes, the digital asset also remains in profit with price increases of 8.57% and 19.04% on the weekly and monthly charts, respectively. This performance suggests that BNB traders are largely maintaining a bullish outlook, with buying interest persisting across both short- and long-term horizons as momentum continues to build.

Meanwhile, with a market cap of $112.36 billion, the Binance Coin continues to rank as the fifth-largest cryptocurrency and fourth-largest altcoin in the market.

Featured image from Apple, chart from TradingView

A crypto analyst says the Bitcoin treasury strategy may not have the longevity many expect, warning that the easy upside may already be behind new companies entering the space.

“My instinct is the Bitcoin treasury strategy has a far shorter lifespan than most expect,” Glassnode lead analyst James Check said in an X post on Friday.

“It could already be over” for new Bitcoin treasury firms

“For many new entrants, it could already be over,” Check said, adding that it’s not “about a measuring contest” but rather how sustainable a company’s product and strategy are when it comes to long-term Bitcoin (BTC) accumulation.

Check said it is becoming an uphill battle for newer Bitcoin treasury firms as investors favor the early adopters. “Nobody wants the 50th Treasury company,” Check said.

“I think we’re already close to the ‘show me’ phase, where it will be increasingly difficult for random company X to sustain a premium and get off the ground without a serious niche.”

In the 30 days leading up to Friday, at least 21 entities added Bitcoin as a reserve asset, according to BitcoinTreasuries data. The largest public Bitcoin treasury, Michael Saylor’s Strategy (MSTR), holds 597,325 BTC, while the second-largest, MARA Holdings, holds 50,000 BTC — approximately one-twelfth as much.

Check said startup Bitcoin treasury firms attract retail speculators — but warns they don’t “have infinite money.”

Check admitted it is hard to put a time limit on the downturn for the newer firms, as he is “bullish” on Bitcoin’s price, which is trading at $107,990 at the time of publication, approximately 3.70% off its $111,970 all-time high, according to CoinMarketCap data.

“It’s a spectrum,” he said, explaining that, for example, Strategy has more runway than the 300th Bitcoin treasury company to enter the market.

Check said he agreed with Taproot Wizards co-founder Udi Wizardheimer’s view that some companies are using a Bitcoin treasury strategy as a way to make quick profits, without fully understanding its long-term purpose.

“The weak ones” may be acquired by the bigger Bitcoin players

“Many of the folks raising just see easy money and have no idea what they’re doing,” Wizardheimer said.

“I think it’ll take them some time to figure out,” he said, adding:

“The weak ones might be acquired at a discount by the strong ones, and the trend could still have a few more legs in it.”

Recently, several doubts have emerged over firms adopting a Bitcoin treasury strategy.

Venture capital firm Breed argued in a June 29 report that only a few Bitcoin treasury companies will stand the test of time and avoid the vicious “death spiral” that will impact BTC holding companies that trade close to net asset value (NAV).

Related: Bitcoin’s third flop at $110K puts bulls at risk: BTC price levels to watch

On June 11, Fakhul Miah, managing director of GoMining Institutional, told Cointelegraph what concerns him most are “the copycats.”

“There are now other companies trying to create Bitcoin banks without proper safeguards or risk management. If these smaller firms crash, we could see a ripple effect that hurts Bitcoin’s image,” Miah said.

Magazine: Bitcoin vs stablecoins showdown looms as GENIUS Act nears

]]> https://earlybirdsinvest.com/bitcoin-treasury-playbook-faces-far-shorter-lifespan-analyst/feed/ 0 45860 https://earlybirdsinvest.com/cardano-breakout-eyes-0-80-resistance-is-ada-repeating-its-ath-playbook/ https://earlybirdsinvest.com/cardano-breakout-eyes-0-80-resistance-is-ada-repeating-its-ath-playbook/#respond Wed, 23 Apr 2025 16:54:49 +0000 https://earlybirdsinvest.com/cardano-breakout-eyes-0-80-resistance-is-ada-repeating-its-ath-playbook/

Amid the market recovery, Cardano (ADA) has seen a 5% daily surge to retest the $0.66 level. Its recent price action has led the cryptocurrency to break out of a bullish formation, which could propel ADA to a key resistance zone.

Related Reading

Cardano Breakout Eyes 27% Move

On Tuesday, Cardano followed Bitcoin’s price jump and climbed to the $0.66 resistance, attempting to break above the key level for the third time this month. ADA has been in a downtrend since hitting its 3-year high of $1.32 in December 2024, retracing over 50% in the past four months.

In March, the cryptocurrency surged 80% toward the $1.17 mark, driven by US President Donald Trump’s initial announcement of a “Crypto Strategic Reserve” comprised of ADA, XRP, and Solana (SOL).

However, after the White House’s Crypto Czar, David Sacks, explained that the listed cryptocurrencies were used as an example of leading tokens, ADA’s price retraced to the $0.70-$0.80 range.

Amid the late March retraces, Cardano lost the $0.70 mark, falling to the $0.50-$0-55 zone in early April. This month, the cryptocurrency has retested the $0.66 level but has been rejected twice.

Today, it attempted to break this level again but was rejected a third time. Nonetheless, analyst Ali Martinez pointed out that ADA has broken out of a symmetrical triangle pattern amid its current performance.

Cardano has been consolidating within a symmetrical triangle formation throughout April, setting the stage for a 27% price move. After surging above the $0.63 mark, ADA broke out of the pattern, eyeing a surge toward the $0.77 resistance next.

ADA Preparing For Key Retests

Analyst Sebastian noted that the cryptocurrency “is brewing,” as it’s moving within a four-month descending channel. ADA has bounced toward the upper boundary, which has served as resistance, each time it has retested the lower trendline as support.

After the recent drop to $0.50, Cardano could retest the upper boundary soon, at around the $0.80 price range. Moreover, the analyst pointed out that the token is currently breaking out of an Inverse Head & Shoulders pattern within the descending channel, which could see the cryptocurrency surge toward the key resistance level.

Another market watcher suggested that the cryptocurrency could be following its 2020-2021 pattern. According to the chart, once ADA broke out of its bear market rally levels, it reached a new cycle high, followed by a retest of the bear market rally as support.

Related Reading

After breaking out of the downtrend, it rallied toward its all-time high (ATH) of $3.09 in the coming months. “If ADA broke out this week and followed the same pattern as last cycle, it would be on track to hit a new ATH in the middle of August,” the analyst asserted.

Meanwhile, Dan Gambardello affirmed that Cardano’s biggest resistance is at the $3 mark, “where a lot of people have regret for not selling last cycle.” The analyst forecasted that once ADA hits ATH levels, its pump “will probably pause in that general area with a lot of volatility, and then continue to $5. It’ll be like a crypto bus stop.”

Featured Image from Unsplash.com, Chart from TradingView.com

Crypto Poster boy Sam Bankman-Fried has become a convicted felon, resurfaced in the headlines again this time to quietly move to the infamous Los Angeles prison with a history of Hollywood-level prisons, rather than a meltdown of courtroom dramas and exchanges.

From Al Capone to Charles Manson, Terminal Island Federal Correctional Facility (known as “Sea Prison”) is now home to the dishonest founder of FTX and has served for 25 years in one of the biggest financial frauds in modern history.

Within Terminal Island: How did Sambankman gain Land Land’s low security while taking in ocean views?

Terminal Island may have less paper security, but despite its coastal location near Hollywood, there is no mistake. This is not a white-collar country club for disgrace executives.

Located on an isolated strip between the Port of Los Angeles and the Pacific Ocean, the facility is notorious for housing some of America’s most infamous prisoners for decades, including mob boss Al Capone, cult leader Charles Manson and more recently Terranos Ku Ramesh “Sunny” Balwani.

Today, it holds over 1,000 male prisoners, most of whom spend their time on federal drugs, white collar or immigration-related crimes. The cells are double-strapped, and despite the “low security” designation, security remains strict.

The Department of Justice’s 2022 Prison Infrastructure Report on Terminal Island prison conditions states:As of May 2022, FCI Terminal Island has identified more than $100,000,000 for required projects where funds are not currently available. ”

(sauce)

Inmates follow a strict daily schedule with mandatory work assignments, continuous meal times and minimal privacy.

Sources familiar with the facility described it as “institutional monotony encounters a quiet threat.” This means that while less violent than security prisons, alliances, orders, and implicit rules are the place where daily life is governed by.

Recreational access includes a basic library, limited email privileges and supervised recreation yards. But what truly defines the terminal island is the psychological weight of being warehoused between a faded atmosphere of infamousness and the men who made history or tried to deceive it.

Discovered: Top 20 Cryptography to Buy in April 2025

What is Sambankmanfried’s Prison Playbook? From interviews with Carlson to relocating LA prisons

But this is not just another prison relocation. Insiders say it’s a strategic change. Following a series of bold moves from the fallen crypto kingpin, he appears to be adjusting the strange red arc from the back bar.

A few weeks before the transfer, SBF shocked the public with a rogue interview from prison broadcast by Tucker Carlson.

The interviews could have been conducted via smuggled smartphones and aired without approval from the Prison Bureau, and reportedly landed with banks trapped in solitary cells. But that doesn’t stop him.

In fact, it seems to be part of a wider playbook.

The leaking of Google Docs from the day before the SBF sentence revealed plans to rehabilitate his public image through conservative media.

One bullet point literally read: “Go to Tucker Carlsen, get out as a Republican and get anti-awakening.” Title and strategy worthy of a Netflix script.

(sauce)

The timing is not random. With Donald Trump inaugurated and a long history of presidential pardons for politically convenient allies, Bankman Fried appears to have realized himself as a mag-friendly martial artist to misunderstand libertarian whistleblowers from code villains.

During an interview with Carlson, the SBF even claimed that his $15 billion empire had paid back users in full and was able to brush past the brutal reality of his $11 billion return order. He dismissed the convictions of former FTX fellow Caroline Ellison, Ryan Salame and Gary Wang as a political theatre, subtly portraying himself as the last honest man in a system equipped by prosecutors.

And now, Terminal Island is far from Brooklyn’s media frenzy, but still close enough to California’s political throbbing, so SBF is reconstructing his next move.

His mobile may not be an investor, but his script looks more political than repentant.

Whether this is the beginning of a bid for pardon or simply another delusion from a fallen Imperial Builder, one thing is certain. And this story isn’t over.

Discover: Best New Cryptocurrencies to Invest in 2025

For the latest market updates, please join us in the discrepancy in 99bitcoins news here

Postsum Bankman Fried has just moved to California. InsideSBF’s Prison Playbook first appeared in 99 Bitcoin.

The Trump-backed decentralized crypto project, World Liberty Financial (WLFI), has published a proposal to airdrop free $USD1 stablecoins to all current $WLFI token holders.

In this article, we’ll unpack the several positives that could come out of this, how it’s a telling sign that the industry is leaning towards cryptos that reward HODLers, and what are the best presales you could buy right now.

Impact of WLFI’s Stablecoin Airdrop Decision

This particular move will serve several purposes.

Testing the airdrop mechanism in a live setting is a necessary step to ensure smart contract functionality and readiness – WLFI

Last but not least, it will also be good marketing for the $USD1 stablecoin, increasing its visibility and awareness before a broader market rollout.

The good thing is that there’s no minimum amount of $WLFI tokens that you need to hold to be eligible for the airdrop – every holder gets a piece of the cake. The exact time and amount of the airdrop are yet unknown.

Trump’s Vested Interest

Ever since Trump’s election as the president, lawmakers have raised concerns over his active involvement in the crypto markets.

Democrats also floated a proposal that would bar cabinet members, presidents, and their families from launching their own tokens.

This was done after Trump and First Lady Melania launched their own meme coins, $TRUMP and $MELANIA, just before the oath-taking ceremony.

Plus, out of WLFI’s $550M token sales, around $390M flowed from DT Marks DEFI LLC, an entity linked to the Trump family.

If you’re also looking to buy some crypto assets in their early stages, here are some new meme coins on presale you cannot miss out on.

1. SUBBD Token ($SUBBD) – Best Presale Right Now Offering Exciting Benefits for Content Creators and Fans

SUBBD Token ($SUBBD) is freshly out on presale, but its performance already suggests it could be the next crypto to explode.

The SUBBD platform is a decentralized ecosystem offering AI-powered automation and tokenization, aiming to revolutionize how online content creators interact with their followers.

This way, creators will be able to better manage the content they publish. As for the fans, they’ll enjoy exclusive access to their favorite creators’ content, who will be incentivized to gatekeep it on SUBBD.

To make the most of the SUBBD platform, though, you must buy $SUBBD, the platform’s native token and one of the best cryptos to buy now.

$SUBBD holders will get subscription discounts, early-bird access to upcoming features, loyalty benefits, and, of course, staking rewards.

What’s more, as per SUBBD Token’s whitepaper, the platform will soon launch AI-powered influencer creation and image generation tools, live streams, and a full-blown app for creators.

Considering SUBBD’s unique value proposition – as well as its clear-cut roadmap – it’s hardly a surprise that its presale, which launched just a few days ago, has already crossed the $100K mark.

One $SUBBD is currently available for only $0.0551, but interested investors should hurry up because the price will increase in less than 26 hours from now.

2. MIND of Pepe ($MIND) – AI Agent Token Offering Crypto Investment Advice

MIND of Pepe ($MIND) is another top altcoin on presale that unlocks its holders a slew of mind-blowing perks and real-life benefits.

Next, MIND of Pepe uses its cutting-edge hive-mind intelligence to comb through all the data it has collected and find out which cryptocurrencies enjoy the market’s favor and are, therefore, worth investing in.

Simply put, MIND of Pepe is an AI agent coin that will study the online chatter surrounding crypto to identify tokens most likely to generate returns.

Another reason our $MIND price prediction suggests that it could reach 0.0263 by 2030 is that the developers will soon lend it the ability to launch its own tokens.

Because MIND will create these cryptos based on what’s trending, they’ll be in a pole position to climb higher.

It’s worth noting, though, that the only way you get access to MIND of Pepe’s insights and purchase recommendations is by becoming a $MIND token holder.

$MIND is currently on presale ($7.8M+ raised), and each token is selling for just $0.0036965. Here’s how to buy it.

3. Bitcoin Pepe ($BPEP) – Popular New Crypto Project Building Debut Meme L2 on Bitcoin

Although BTC Bull Token ($BTCBULL) is inarguably the best Bitcoin-themed meme coin on the market right now, Bitcoin Pepe’s mission of creating the first-ever meme coin Layer-2 on the Bitcoin blockchain is nothing to sniff at, either.

You could say $BPEP is essentially taking a leaf out of Solana’s book, as it’s looking to create a native infrastructure for the best meme coins on Bitcoin itself.

To do this, Bitcoin Pepe plans to combine Solana’s speed and low fees with Bitcoin’s liquidity.

This will not only ensure that transactions are executed quickly but also motivate meme coin degens not to shy away from making multiple trades (or scalps).

If you like what you see and want to back Bitcoin Pepe, consider becoming an investor in it. The token, $BPEP, is currently on presale, meaning you can grab it at a low price of $0.0295.

The project has raised an impressive $6.25M so far and is easily among the best low-cap cryptos to buy now.

Bottom Line

The best presales typically offer handsome rewards to loyal HODLers, which is also a smart way of generating hype and hopping onto the list of the top trending cryptos.

However, even then, they’re rarely immune to the larger crypto market’s mood, which can be pretty volatile.

Therefore, in addition to considering exclusive holder benefits, also look at the project’s fundamentals.

And most importantly, do your own research before investing. Our guides are not financial advice.

A popular crypto analyst thinks Ethereum (ETH) will have to endure some “pain” before rebounding.

In a new YouTube video, Benjamin Cowen tells his 886,000 subscribers that there probably needs to be a change in monetary policy in order for ETH’s chart against Bitcoin (BTC) to bottom.

“But in order to have a change in monetary policy, you have to have pain. Welcome to the pain. This is the pain that you ultimately need. Remember last cycle [in 2019], ETH/Bitcoin bottomed after ETH/USD broke support.” 

Cowen notes that ETH fell below its support level against the US dollar in 2019 right before the Federal Reserve ended quantitative tightening.

The analyst says that everything that happened in the previous cycle is “basically happening this cycle, it’s just taking place on a longer timeframe.” Cowen also notes that most of the price points of the current cycle are roughly 10x what they were in the 2019 market.

“The reason why people are having a hard time navigating this cycle and why it feels so different is because monetary policy never changed this cycle. In the last cycle, we saw a change in monetary policy in the pre-halving year. We’re now in the post-halving year and we still haven’t seen a change to the quantitative tightening. We’ve seen them taper it a little bit. They’ve slowed it down, but they’ve never actually stopped it.”   

ETH is trading at $1,907 at time of writing. The second-ranked crypto asset by market cap is down more than 1% in the past 24 hours.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

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