Kelly Greer of Galaxy Digital attributes the recent Bitcoin plunge below $60,000 to a ‘technical sell-off’ ahead of Nvidia’s earnings call. She highlights low liquidity and potential market impact from Gox distributions, but remains optimistic about the market’s ability to absorb the supply. Greer also points to potential asymmetric outcomes based on Nvidia’s earnings performance and market positioning.
The cryptocurrency market experienced a sharp decline on Tuesday evening, leading to significant liquidations. Bitcoin dropped below $59,000, its lowest level since August 19th, while Ethereum plummeted to a three-week low. The decline was attributed to extreme funding rates on derivatives exchanges, which led to over-leveraged long bets. Analysts predict that the market will need to cool down before a potential rebound.
This analysis delves into the current market rotation, highlighting the shift from tech stocks to cyclical and interest rate-sensitive sectors. It examines the implications of Nvidia’s upcoming earnings, the contrasting strategies of the momo crowd and smart money, and the importance of portfolio protection in a volatile market.
Despite a recent decline in value, Litecoin may be poised for a bullish turnaround, according to cryptocurrency analytics firm Santiment. The firm observed a significant drop in the number of small traders holding Litecoin, indicating a potential capitulation that could lead to a market reversal.
Leading cryptocurrencies, including Bitcoin and Ethereum, experienced declines on Monday, mirroring losses in blue-chip stock indices. Bitcoin dipped below $63,000 before stabilizing, while Ethereum fell below $2,700. The total cryptocurrency liquidations reached $107.46 million in the past 24 hours, indicating a shift in sentiment.
Cannabist Company Holdings (CBSTF) has received a Buy rating from Canaccord Genuity with a target price of C$1.00. This bullish outlook is fueled by the company’s recent strategic divestitures, which are designed to streamline operations and focus on high-growth markets. These moves, including the sale of Florida assets and the acquisition of subsidiaries by Verano Holdings, demonstrate a commitment to efficiency and profitability, positioning Cannabist for future growth.
Crypto analysts DonAlt and CryptoCred offer contrasting views on Bitcoin’s future trajectory. While DonAlt sees a potential for a new all-time high, CryptoCred emphasizes the challenges of navigating conflicting signals across different timeframes. The coming weeks could be decisive for Bitcoin’s fate.
This article analyzes recent insider sales at several publicly traded companies including Lithia Motors, Philip Morris International, McDonald’s, and Mastercard. While insider sales may not always be a cause for concern, they can be a signal of potential market shifts or company-specific issues. This information can help investors make more informed decisions.
The global parenteral drug market is poised for significant growth, driven by increasing demand for effective and quick-acting treatments. This market is expected to reach a value of US$ 595.63 billion in 2024, expanding at a CAGR of 5.5% over the forecast period from 2024 to 2034.
Despite the Federal Reserve’s shift towards a potential rate cut, historical data suggests that market performance after rate cuts may not be as positive as many expect. Two previous instances in 2001 and 2007 saw initial market bounces followed by significant declines, raising concerns about a similar outcome this time. However, current economic conditions are less severe, providing some optimism.
