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Macro expert Lyn Alden says that macroeconomic conditions hint at further Bitcoin (BTC) rallies over the next several months, but with a caveat.
In a new interview with Natalie Brunell, Alden says that Bitcoin has historically proved to be a decent play on USD liquidity, usually rising in price alongside an expansion of the money supply.

She says that recently, a slight easing of liquidity has helped set the stage for BTC’s rallies over the past several weeks. The macro expert predicts more price appreciation for the king crypto, but says that liquidity trends still weigh down on Bitcoin over the longer term.
“Historically, Bitcoin has been one of the purest liquidity plays. When you look at various measures of domestic or global liquidity, generally when liquidity is rising, it’s pretty good for Bitcoin and when liquidity is falling, Bitcoin is usually going down or sideways. Starting around the beginning of Q4 of last year, some of the liquidity indicators started to bottom and turn back up, at least temporarily. 
I think that much like other assets that rallied, I think Bitcoin would have had a rally back then if not for the whole FTX debacle. So that kind of delayed the rally but with that somewhat resolved, and now moving forward, I think Bitcoin and other assets in the ecosystem are kind of having their rally which is really a liquidity rally. Basically, liquidity indicators look okay for the next couple of months, but overall, long term they’re still not in a very good place.”
Alden says it’s possible that a similar scenario to March 2020 awaits Bitcoin at some point before the next bull market, whereby a sudden “liquidity shock” hammers BTC’s price down to retest macro lows before quickly bouncing up.
“I wouldn’t be surprised by something like that, like a sharp retest, but it’s too early to say because it partially depends on what humans do, what Jerome Powell does, what different boss-makers do. And of course, that’s always impossible to predict. But overall, historically, Bitcoin has been very correlated to macro factors, and specifically liquidity.”

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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 loses 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: StableDiffusion
The post Macro Guru Lyn Alden Predicts Bitcoin Rally Likely To Continue in Coming Months – But There’s a Big Catch appeared first on The Daily Hodl.


Macro expert Lyn Alden says that macroeconomic conditions hint at further Bitcoin (BTC) rallies over the next several months, but with a caveat. In a new interview with Natalie Brunell, Alden says that Bitcoin has historically proved to be a decent play on USD liquidity, usually rising in price a...

dailyhodl.com

Macro Guru Lyn Alden Predicts Bitcoin Rally Likely To Continue in Coming Months – But There’s a Big Catch

In the hopes of generating yield while offering users what its best known for, MakerDAO, the issuer of the Ethereum-based stablecoin, DAI, has approved a proposal to deploy $100 million of Circle’s USD Coin (USDC) in a Yearn Finance yield-generating account called a “vault.”
The proposal, submitted on January 9, aims to look for a way MakerDAO could split its treasury allocations and earn yield.
MakerDAO To Generate Yields From Yearn Finance Vault
Following the approval of the MIP92 (Maker Improvement Proposal 92), MakerDAO plans to begin depositing $100 million USDC to the Yearn finance vault to earn a 2% yield annually, approximately $2 million every year on its YearnFi investment. 

Founded by prominent DeFi developer Andre Cronje, Yearn finance is a yield aggregator built on the Ethereum blockchain, allowing users to deposit crypto assets in the service in exchange for yield or interest over some time. 
With a total of 95,666.284 of Maker’s native token, MKR cast in the vote, approximately 68,462 MKR, which accounts for 71.56%, voted in favor of deploying USDC in Yearn Finance, while 27,204 MKR, which accounts for 28.44% voted out the whole idea and 0.0% voted “abstain.” 
Though the MIP92 has been passed, the proposal still has to go through an executive vote for the concept to be implemented.
MakerDAO Attraction To USDC
Before the MIP92 submission, MakerDAO had already demonstrated interest in Circle’s dollar-backed token, USDC. Late last year, the DAI stablecoin operator invested a hefty amount alongside collaboration with Coinbase to become the largest stakeholder in USDC.
As reported by NewsBTC, MakerDAO and Coinbase Prime have a total of USD 1.6 billion in custody, allowing both partners to earn 1.5% returns from the deposited assets. Notably, stablecoins have seen rapid growth in recognition in recent years. As a result, investors now rely on these assets to protect the value of their investments.

Unlike traditional cryptocurrencies, which fluctuate now and then, stablecoins are tied to the value of an underlying asset, like the U.S. dollar. Due to the nature of stablecoins, many investors have found them enticing, especially as a vital part of future finance. 
With the USDC still lagging behind USDT in adoption, the goal has always been to surpass the latter and become number one in the market cap.

Veering back to MakerDAO, the protocol’s native token, MKR, has also been thriving to cover the gaps between its current price and its all-time high. Over the past 30 days, MKR has surged more than 20% and currently trades above $650 with a 24-hour trading volume of $22.3 million.



In the hopes of generating yield while offering users what its best known for, MakerDAO, the issuer of the Ethereum-based stablecoin, DAI, has approved a proposal to deploy $100 million of Circle’s USD Coin (USDC) in a Yearn Finance yield-generating account called a “vault.” The proposal, submitt...

newsbtc.com

MakerDAO Passes Proposal To Deploy $100 Million USDC In Yearn Finance Vault

The host of the popular crypto channel Coin Bureau is predicting one US dollar-pegged stablecoin is poised to run the market.
Coin Bureau host Guy Turner tells his 2.2 million subscribers that Circle’s USD Coin (USDC), the second-largest stablecoin by market cap, is on its way to overtaking Tether’s USDT as the world’s dominant stablecoin.

“The growth of USDC’s supply over the past few years is further evidence that [USDC’s] strategy has been working. I also think that it’s inevitable that USDC will become the predominant stablecoin in the next two years. However, I can’t say that I’m completely happy about that.”
Turner warns viewers about his concerns with USDC’s issuer Circle, a centralized firm that he says answers to the traditional finance (TradFi) world and perhaps has a goal of monopolizing the market.
“While Circle’s vision for crypto payments adoption is something I can get on board with, I’m still quite skeptical of its true underlying motives. It is backed by Goldman. It is partnered with BlackRock. It has embarked on some powerful lobbying initiatives to get in the ears of politicians in [Washington DC] and Brussels. 
It’s also shown that it’s ready and willing to censor transactions should it be instructed to do so by the powers that be. I also think that stablecoin competition is healthy. It encourages issuers to continue developing better products and allows people to diversify their stablecoin holdings. We don’t want a monopoly.
This is part of the reason why I do hope that one-day Tether does come out with a full audit so that it can address the fund once and for all. It could also help to calm the nerves of the increasingly edgy crypto community.
Until that time, Circle is going to continue its aggressive growth.”

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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 loses 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 Coin Bureau Makes Prediction on Circle’s USDC, Issues Stark Warning – Here’s His Outlook appeared first on The Daily Hodl.


The host of the popular crypto channel Coin Bureau is predicting one US dollar-pegged stablecoin is poised to run the market. Coin Bureau host Guy Turner tells his 2.2 million subscribers that Circle&#8217;s USD Coin (USDC), the second-largest stablecoin by market cap, is on its way to overtaking...

Coin Bureau Makes Prediction on Circle’s USDC, Issues Stark Warning – Here’s His Outlook

Bitcoin has continued with its bullishness as it surged its price above the USD$23,000 level, a positive signal amid miners reduced the sales of their mined coins. On-chain flows flagged by Bitifinex analysts indicate that the amount of Bitcoin moved from Bitcoin mining addresses to wallets owned by cryptocurrency exchanges has declined to multi-year lows.

Selling Power Low, Favorable For A BTC Rally                      
As per a Bitfinex analyst, Bitcoin miner sales are at a three-year low. The report claims that the selling could be a sign that Bitcoin miners are in the mood to accumulate coins as they expect the surge of prices of the flagship cryptocurrency.
The declined Bitcoin sales from mining companies mean low selling pressure from these market actors. Therefore, it signals bullishness for the broader market.

The analysts, however, stated that the recent uptick in Bitcoin price might witness a correction as investors try to recoup their profits amid the current price surges.
The analysts identified large wallet sizes (>$1M) as the majorly responsible for accumulating Bitcoin. They further said such wallets, as well as major market actors, are the ones creating the buying pressure that comes after the FTX saga and a series of bearish events generally witnessed last year.
The analysts mentioned that since the second week of January, the numbers of wallets with $1,000 and $10,000 worth of Bitcoin have increased. The analyst further acknowledged that the trading activities of retail investors had accompanied the uptrend.
According to the figure above, the current low Bitcoin selling pressure coincided with the lowest sales in November last year. The current low level signals a green (bullish) indicator for the cryptocurrency.
When miners sell more BTC, it implies a bearish for the coin value. Conversely, when mining firms don’t have the selling urge, this suggests a bullish trend for the crypto market.

Today’s Bitcoin Price
Bitcoin has surged its value by almost 40% this month, trading at $22,909, up 1.48% on Tuesday. The crypto is trading at levels not witnessed since the downfall of the FTX exchange. BTC volume stands at about $26.82 billion, an increase of 12.78% in the past 24 hours, as per Coinmarketcap.

As highlighted above, the rise in Bitcoin value could be attributed to whales committed to accumulating coins amid surging prices. The bullish trend is also seen in the global crypto market capitalization, which is trading at a higher level, around $1.06 trillion, up 1.27% in the last 24 hours, according to Tradingview.



Bitcoin has continued with its bullishness as it surged its price above the USD$23,000 level, a positive signal amid miners reduced the sales of their mined coins. On-chain flows flagged by Bitifinex analysts indicate that the amount of Bitcoin moved from Bitcoin mining addresses to wallets owned...

Bitcoin Surges To 23,000 As Miners Sales Sees Multi-Year Low

Binance stressed that credit and debit card payments will continue to be accepted and that non-USD bank transfers would still be processed through the SWIFT payment system.

Binance USD price	$1.00
Low - High 24H	$0.993115 - $1.00
Market cap	$15.73B
Volume 24H	$10.32B
All time high	$1.15 -13.28% March 13th 2020
All time low	$0.901127 11.08% May 19th 2021
Genesis date	N/A

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