Stocks News


CATL Unveils TENER, the World's First Five-Year Zero Degradation Energy Storage System with 6.25MWh Capacity
16 Apr 06:43
- April 9, 2024 — On April 9, CATL unveiled TENER, the world's first mass-producible energy storage system with zero degradation in the first five years of use in Beijing, China. Featuring all-round safety, five-year zero degradation and a robust 6.25 MWh capacity, TENER will accelerate large-scale...
VietJet Air Cargo, Teleport deepen partnership with exclusive commercial rights on first key lane
16 Apr 06:43
Teleport extends its Total Cargo Management capabilities beyond AirAsia, with VietJet Air Cargo on its New Delhi – Ho Chi Minh City belly space Kuala Lumpur - April 15, 2024 — Teleport, an integrated logistics solutions provider, announced today that it will be managing the exclusive commercial rights of...
Ultra Lithium Provides Bi-Weekly Default Status Report
16 Apr 06:28
VANCOUVER, British Columbia, April 16, 2024 (GLOBE NEWSWIRE) -- Ultra Lithium Inc. (TSXV: ULT OTCQB: ULTXF Frankfurt: QFB) ("Ultra Lithium" or the "Company") is providing this bi-weekly default status report in accordance with...
Sensex, Nifty Decline In Early Trade; IT And Financials Lead Losses
16 Apr 06:12
(RTTNews) - Indian shares opened lower on Tuesday, adding to losses in the previous session as geopolitical tensions persisted and robust U.S. consumer spending data for March added to concerns about the outlook for interest rates. Overall losses, however, remained limited after data showed India's trade deficit narrowed to an 11-month low in...
Creta Announces Yoshiki Okamoto's New Game Title "Project Creta" on 8th of April at Creta's Web3 GameFi Incubation Program NEXUS
16 Apr 05:55
Dubai, United Arab Emirates--(Newsfile Corp. - April 15, 2024) - Creta has announced the launch of "Project Creta", the latest project by the legendary game producer, Yoshiki Okamoto, known for his work on...
JAKKS Pacific, Inc. Announces First Quarter 2024 Earnings Call
16 Apr 05:54
SANTA MONICA, Calif., April 15, 2024 (GLOBE NEWSWIRE) -- JAKKS Pacific, Inc. (NASDAQ: JAKK) will announce its first quarter 2024 financial results on Wednesday, April 24, 2024 after the close of the stock market. The Company will...
Cathie Wood's Ark Invest Continues To Shed Coinbase, Nvidia Shares
16 Apr 05:44
On Monday, Cathie Wood-led Ark Invest made significant trades involving Coinbase Global Inc. (NASDAQ:COIN) and NVIDIA Corp. (NASDAQ:
The Chemours Company Sued for Securities Law Violations – Investors Should Contact Levi & Korsinsky for More Information – CC
16 Apr 05:30
NEW YORK, NY / ACCESSWIRE / April 15, 2024 / If you suffered a loss on your The Chemours Company (NYSE:CC) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:https:
Shareholders that lost money on Shoals Technologies Group, Inc.(SHLS) Urged to Join Class Action – Contact Levi & Korsinsky to Learn More
16 Apr 05:30
NEW YORK, NY / ACCESSWIRE / April 15, 2024 / If you suffered a loss on your Shoals Technologies Group, Inc. (NASDAQ:SHLS) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:
Shareholders that lost money on agilon health, inc.(AGL) Urged to Join Class Action – Contact Levi & Korsinsky to Learn More
16 Apr 05:30
NEW YORK, NY / ACCESSWIRE / April 15, 2024 / If you suffered a loss on your agilon health, inc. (NYSE:AGL) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:https:

Forex News


ECB Pres. Lagarde: We will cut rates soon, barring any major surprises
16 Apr 15:51
ECB Pres. Lagarde speaking on CNBC says:We will cut rates soon, barring any major surprises.Geopolitical events impact on commodity prices not very significant so far.We are observing a disinflationary process that is moving according to our expectations.Subject to no development of additional shock, it will be time to moderate restrictive monetary policy in reasonably short orderWe are not pre-committing to a path of rate cutsThere is still huge uncertainty out there.ECB must be cautious and must look at the data to confirm our perspective.Declines to comment on market pricing for three rate cuts in 2024.We believe that rates are restrictive enough and they are producing an effect on inflation.April and May will be a key confidence on inflation.The path to 2% inflation will be bumpy. The rate decline is not linear.We expect inflation to fluctuate around the line that is currently going lower.What is most different between the US and EU is the behavior of the consumerEU consumers are very cautious and continue to save.The American consumer consumes and the level of savings is less than EU.Fiscal policy was significantly higher in the US and targeted toward the consumers.We are data dependent, we are not Fed dependent.We have to attentive to exchange rates and the value of the currency. This article was written by Greg Michalowski at www.forexlive.com.
Mixed opening for the US major indices
16 Apr 15:37
Major US stock indices are trading mixed. The Dow industrial average higher help by UnitedHealth stock after earnings. Shares are up $25.38 or 5.58% at $470.52.The NASDAQ index is lower to start the trading day. The S&P index is marginally higher.A snapshot of the market four minutes into the open is it showing:Dow industrial average up 210.20 points or 0.56% at 37945.32S&P index is up 3.30 points or 0.07% at 5065.11NASDAQ is down -18.14 points or -0.11% at 15866.88The small-cap Russell 2000 is trading down -14.43 points or -0.73% at 1961.27.Looking at the US rate markets, yields are higher:2-year yield 4.967%, +3.0 basis points5-year yield 4.694%, +4.9 basis points10 year yield 4.686%, +5.8 basis points30-year yield 4.798%, +5.8 basis pointsLooking at other markets:Crude oil is a trading down $0.15 or -0.18% at $85.26Gold is down $10.33 or -0.43% at $2371.87Bitcoin is lower at $62,781 This article was written by Greg Michalowski at www.forexlive.com.
US March industrial production +0.4% versus 0.4% expected
16 Apr 15:16
Prior month 0.1% revised to 0.4%Industrial production 0.4% versus 0.4% expected. Largest increase sense August 2023Capacity utilization 78.4% versus 78.5% expectedPrior month capacity utilization 78.3% revised lower to 78.2%.Manufacturing output for March 0.5% versus 0.3% expected. Prior month revised higher to 1.2% from 0.8% previously reported.Looking at the capacity utilization chart below, rates remain high but near the lower end of the recent range over the last few years.Notes from the Fed:Industrial production increased by 0.4% in March, though it saw a decline of 1.8% at an annual rate for the first quarter.Manufacturing output rose by 0.5% in March, with motor vehicles and parts production up by 3.1%.Excluding motor vehicles and parts, factory output increased by 0.3%.The mining index declined by 1.4%, while the utilities index saw a 2% increase.Total industrial production in March remained unchanged from the previous year, standing at 102.7% of its 2017 average.Capacity utilization for the industrial sector improved to 78.4% in March, still 1.2 percentage points below the long-run average from 1972 to 2023. This article was written by Greg Michalowski at www.forexlive.com.
Treasury Secretary Yellen: US inflation is significantly down from peak
16 Apr 15:10
Treasury Secretary Yellen is on the wires saying:US inflation is significantly down from peak but more work to do.Global economic performance has been powered in part by a strong US economyUS labor market is remarkably healthyWe recognize global recovery has been uneven, and are working to mitigate risks and support long-term growthIt is, what it is. This article was written by Greg Michalowski at www.forexlive.com.
ECB's Villeroy: Expected June rate cut to be followed by others with gradualism
16 Apr 15:10
Expected June cut to be followed by others with 'pragmatic and agile gradualism'We will obviously monitor possible consequences from Middle East developmentsTranslation: The June cut is locked in but Iran losing oil production and a crude oil price spike would be a real problem for us. This article was written by Adam Button at www.forexlive.com.
Fed Gov. Jefferson: If inflation is more persistent, holding rates in place for longer
16 Apr 15:02
Fed Gov. Jefferson speaking:If incoming data suggest inflation is more persistent than I currently expect it will be appropriate to hold in place current restrictive stance of policy for longerOutlook is still quite in certainRecent readings on both job gains in inflation have come in higher than expected.In March, headline PCE was 2.7% over past 12 months based on Fed staff estimates core PCE at 2.8%Despite considerable progress in lowering inflation, job not yet done.My baseline outlook remains inflation will decline further with policy rate at current level.My baseline outlook is also for labor market remaining strong, demand and supply continuing to rebalancecompared to Q4 2023 I expect Q1 economic growth to slow down but remain solid as indicated by February and March retail sales data.I am fully committed to getting inflation back to 2%.The comments are in line with the expectation that restrictive policy will restrict inflation/job growth, but not seeing it in the data yet. Jefferson does not make reference to policy easing. When he last spoke on February 22 he said that easing "will likely be appropriate later this year" This article was written by Greg Michalowski at www.forexlive.com.
Putin had a phone call with Iran's president Raisi: Putin expressed hope for restraint.
16 Apr 14:56
Putin and Iran's Pres. Raisi had a phone conversation. According to sources, Putin expressed hope that all parties in Middle East would show restraint.Raisi said he was not interested in further escalation in the Middle East. That is good news but of course Israel is leaning toward a retaliation. So it may just be posturing, but let's hope for a taming of the mindset. This article was written by Greg Michalowski at www.forexlive.com.
Canada March CPI 2.9% y/y vs 2.9% expected
16 Apr 14:30
Prior was 2.8% y/yCPI m/m +0.6% vs +0.7% expectedCore measuresCPI Bank of Canada core y/y +2.0% vs 2.1% priorCPI Bank of Canada core m/m +0.5% versus +0.1% priorCore CPI MoM SA -0.1% vs -0.1% prior (revised to 0.0%)Trim 3.1% versus 3.2% prior (was expected at 3.2%)Median 2.8% versus 3.1% priorCommon 2.9% versus 3.1% priorFull reportThe headline rose but it was due to a jump in gasoline prices that was no surprise. Excluding gasoline, CPI y/y fell to 2.8% from 2.9% and should give the Bank of Canada more confidence to start cutting rates. Morever, what remains of CPI is largely mortgage interest costs (+25.4% y/y) and rent (+8.5% y/y).However there is some worry on the services side with it rising to +4.5% y/y from 4.2% y/y. Goods prices decelerated to 1.1% from 1.2%. This article was written by Adam Button at www.forexlive.com.
US housing starts for March 1.321M vs 1.487M estimate
16 Apr 14:30
Housing starts for March lower than expectationsPrior month housing starts 1.521M revised up to 1.549MHousing starts.1.321M vs 1.487M estimateHousing starts MoM -14.7% vs +10.7% last monthSingle‐family housing starts in March were at a rate of 1,022,000; this is 12.4 percent (±12.5 percent)* below the revised February figure of 1,167,000. The March rate for multifamily housing start units in buildings with five units or more was 290,000.Building permits for March lower than expectationsPrior month building permits 1.518M revised up to 1.523M.Building permits 1.458M vs 1.515M estimate.Building permits MoM -4.3% vs +1.9% last month.Single-family housing building permits in March were at a rate of 973,000, marking a 5.7% decrease from the revised February rate of 1,032,000.Building permits for units in buildings with five or more units were recorded at a rate of 433,000 in March.Housing completions:Privately-owned housing completions in March were at a seasonally adjusted annual rate of 1,469,000, which is 13.5% lower than the revised February estimate of 1,698,000.This rate is also 3.9% below the rate from March 2023, which was 1,528,000.Single-family housing completions in March were at a rate of 947,000, down 10.5% from the revised February rate of 1,058,000.Completions for units in buildings with five units or more were recorded at a rate of 502,000 in March.Not a good pipeline for both starts and permits as builder struggle with rates and affordability issues. This article was written by Greg Michalowski at www.forexlive.com.
Canada March housing starts 242.2K vs 245.0K expected
16 Apr 14:16
Prior was 253.5K (revised to 260.0K)Starts down 1.6% This article was written by Adam Button at www.forexlive.com.
USD/JPY Analysis: Surpassing Japanese Intervention Levels - 16 April 2024
16 Apr 13:22
The sharp uptrend in the price of the US dollar against the Japanese yen USD/JPY continued, with gains reaching the resistance level of 154.44, the highest for the currency pair in 34 years.
GBP/USD Analysis: Strong Selling Pressure - 16 April 2024
16 Apr 13:13
For the second week in a row, the GBP/USD pair has been completing its strong downward correction path, which has pushed it towards the 1.2425 support level, its lowest in five months.
Gold Analysis: Uptrend May Continue for Long Time - 16 April 2024
16 Apr 13:05
At the start of trading this week, gold traded below the new high it hit last week, even after Iran's unprecedented attack on Israel over the weekend.
Gold a wee bit choppy after brush up against $2,400 last week
16 Apr 13:05
What a run it has been for gold in 2024, and we're still only just four months in. A surging run from $2,000 all the way to $2,400 in a time when the dollar is also holding strong says quite a lot. That especially when traders are also seen paring back rate cut bets since the start of the year.Amid ongoing tensions involving Iran and Israel, the precious metal ran up just above $2,400 on Friday. That before some profit-taking eventually kicked in and we're seeing price chop around a fair bit in the last few sessions. But what does the technical picture say about gold at the moment?The near-term chart seen above shows that buyers are still in control at this point. And during the run higher in April so far, they have done their part in defending the more bullish near-term bias.The first couple of brushes against the 100-hour moving average (red line) were quickly defended before the strong dip buying yesterday at the 200-hour moving average (blue line). In short, sellers were unable to seize back near-term control in their first attempt.As such, buyers are still poised with price action holding above both key hourly moving averages. Even with the slight drop today, it isn't all too bad for gold in terms of the charts.In the bigger picture, I can't help but think there's still so much more potential for gold to rip higher. As mentioned, we're seeing gold surge despite a stronger dollar and softening of rate cut bets. What happens when those two factors switch around?I reckon we might be due a major retracement/correction before that. But if anything else, that's just going to present another prime dip buying opportunity - similar to October last year. This article was written by Justin Low at www.forexlive.com.
US Dollar Breaks Resistance: Opportunities in USD/JPY, EUR/USD, GBP/USD - 16 April 2024
16 Apr 13:01
The US Dollar has continued to advance following its bullish breakout in late March from a consolidating triangle formation.
EUR/USD Analysis: Nearest Buying Levels - 16 April 2024
16 Apr 12:54
Amid a pessimistic outlook, the heavy losses suffered by the euro price last week against the US dollar open the door to further declines in the coming days.
Treasury yields nudge higher on the session
16 Apr 12:06
The selling in bonds is continuing as yields are gradually popping higher in European morning trade. This wasn't supposed to be part of the script for 2024, if you look back at what traders were positioning for back in November and December last year. Yet, here we are now as Treasury yields are reversing a large chunk of that move.For some context, we've seen a significant pullback in terms of Fed rate cut pricing over the last few months. And that is what is being confirmed by the action in the bond market here.The first rate cut was initially set for March, then moved to June. Now, it is pushed to September and even that is not necessarily a given if you take the inflation outlook into consideration.In terms of how market pricing has shifted specifically, we saw traders price in 156 bps worth of rate cuts for this year at the end of December last year. Currently, traders are only pricing in a measly 42 bps worth of rate cuts.So, where do we go from here?It all comes down to the inflation picture for the most part. If inflation continues to remain stubborn, there is still room for a further pullback in pricing. And that means a higher dollar with yields also to stay underpinned until the narrative changes.For this week, a further push higher in Treasury yields will keep USD/JPY in focus. The pair is trading up 0.2% to 154.55 now with a close watch on the 155.00 mark. That might be a potential intervention trigger point for Japan. This article was written by Justin Low at www.forexlive.com.
US trade chief says 'taking a serious look' at tools to deal with China
16 Apr 11:16
China's policies are causing vulnerabilities in multiple sectorsThis is harming American workers and businesses, creating real risks for our supply chainsGovernment will be 'taking a serious look' at trade tools to deal with threats posed by China's policiesThat includes a review of Trump-era tariffs on Chinese imports i.e. China Section 301 tariffsWe want competition with China, not conflictThey can pretend to play nice as much as they want. But the fact is that US and China are on diverging paths and will continue to grow farther apart in due time. The question is, at what point does that turn into a major risk for markets and the world? It's not going to be today or tomorrow, but it is something to definitely keep in mind in the long run. This article was written by Justin Low at www.forexlive.com.
Eurozone February trade balance €23.6 billion vs €11.4 billion prior
16 Apr 11:00
After adjusting for seasonal swings, the euro area trade surplus was seen at €17.9 billion in February. That is down from the €27.1 billion surplus in January. Exports were seen down 0.2% on the month while imports were up 4.2% on the month. This article was written by Justin Low at www.forexlive.com.
Germany April ZEW survey current conditions -79.2 vs -76.0 expected
16 Apr 11:00
Prior -80.5Economic sentiment (Outlook) 42.9 vs 35.0 expectedPrior 31.7The headline reading is worse than expected but the bright side is at least the outlook reading was a beat on estimates. That reaffirms that underlying conditions in the German economy are still a struggle but with ECB rate cuts lined up, there is some hope for optimism. Well, for now at least. This article was written by Justin Low at www.forexlive.com.
NASDAQ Forecast: Continues to See Buyers Overall - 16 April 2024
16 Apr 10:43
The Nasdaq 100 has rallied a bit during the early hours on Monday, as perhaps there's been a big sigh of relief that the Middle Eastern conflict hasn’t expanded.
GBP/CHF Forex Signal: Swiss Franc Weak - 16 April 2024
16 Apr 10:34
The British pound has rallied rather significantly during the trading session here on Monday, and the Swiss franc continues to be a funding currency.
USD/SGD Analysis: Near-Term Trend Higher Resembles a Staircase Climb - 16 April 2024
16 Apr 10:29
The climb higher in the USD/SGD has continued this morning and values are being sustained.
Deutsche now sees the ECB delivering 75 bps worth of rate cuts for this year
16 Apr 10:23
It's a better late than never change of heart from Deutsche I guess. The 75 bps total fits well with what traders have priced in for the ECB currently. As things stand, money markets are expecting 80 bps worth of rate cuts by the central bank. This article was written by Justin Low at www.forexlive.com.
USD/BRL Analysis: Burst Higher Has Brought Long-Term Values into Play - 16 April 2024
16 Apr 10:14
The upwards track of the USD/BRL likely has some in Brazil nervous.
DAX Forecast: Strong with a Bounce - 16 April 2024
16 Apr 10:08
The German Dax has shown the market to show upward pressure with the €18,000 level, an area that a lot of people will be looking at as and an area of interest.
ECB's Rehn reaffirms June rate cut if there are no inflation setbacks
16 Apr 10:07
If June assessment confirms inflation convergence towards target, we could cut ratesThis assumes there will be no further setbacks, for instance in geopolitics and energy pricesFuture rate decisions will ensure that policy stays sufficiently restrictive for as long as necessaryThis keeps the ECB on track for a rate cut in June, with next month's wages data for Q1 set to solidify that outlook. This article was written by Justin Low at www.forexlive.com.
CHF/JPY Forecast: Carry Trade Currencies Battle on Monday - 16 April 2024
16 Apr 10:05
The Swiss franc in the Japanese yen are both very low yielding currencies and are quite often used to fund so-called “carry trades.”
Italy March final CPI +1.2% vs +1.3% y/y prelim
16 Apr 10:01
Prior +0.8%HICP +1.2% vs +1.3% y/y prelimPrior +0.8%Core inflation remains stable at 2.3%, so there's still that to keep an eye out for. This article was written by Justin Low at www.forexlive.com.
Heads up: Fed chair Powell will be making a speaking appearance later today
16 Apr 09:50
The event is scheduled for 1715 GMT and should last for about an hour. According to the agenda here, Powell and Macklem will be "sharing their perspectives on the economic outlook, monetary policymaking in their respective countries, and the enduring value of the Canada-US economic relationship". This article was written by Justin Low at www.forexlive.com.
CAC Forecast: Paris Gives Up Early Gains - 16 April 2024
16 Apr 09:49
The Parisian CAC 40 has initially rallied during the training session on Monday, but has given back in the early gain.
USD/CAD Forecast: US Dollar Continues to Find the Buyers Against Canadian Dollar - 16 April 2024
16 Apr 09:39
The US dollar initially fell during the trading session on Monday but has seen buyers step in to pick it up near the 1.3725 CAD level.
S&P 500 Forecast: Continues to Bounce Back and Forth - 16 April 2024
16 Apr 09:25
The S&P 500 initially tried to rally during the course of the trading session on Monday.
AUD/USD Forecast: Australian Dollar Gives Up Early Gains - 16 April 2024
16 Apr 09:20
The Aussie dollar initially tried to rally during the trading session on Monday.
European stocks struggle at the open, tracking Wall Street losses
16 Apr 09:10
Eurostoxx -1.4%Germany DAX -1.2%France CAC 40 -1.2%UK FTSE -1.2%Spain IBEX -0.9%Italy FTSE MIB -1.4%The retreat in the month of April continues in the equities space for today. Tensions are still up in the air involving Iran and Israel, and that's not helping to alleviate much of the geopolitical mood. But after mostly one-way traffic since November, one can argue that this retracement in stocks may have been overdue. S&P 500 futures are also slightly softer, down 0.2% on the day. This article was written by Justin Low at www.forexlive.com.
GBP/USD Forex Signal: Bearish Breakout Confirmed - 16 April 2024
16 Apr 09:09
The GBP/USD pair continued its freefall as signs emerged that the UK was beating the US on inflation.
Gold Forecast: Strong Long Term - 16 April 2024
16 Apr 08:58
Gold has been a bit all over the place during the early hours on Monday, and perhaps a little bit of relief is starting to creep into the market that the Middle Eastern War hasn’t expanded.
EUR/USD Forex Signal: Death Cross Pattern Nears - 16 April 2024
16 Apr 08:47
The EUR/USD pair has crashed for five straight days as the US dollar has staged a strong comeback.
BTC/USD Forecast: Finds Buyers on Dips - 16 April 2024
16 Apr 08:40
The Bitcoin market has rallied pretty significantly during the early hours on Monday after the weekend provided a lot of fireworks in the spot market.
BTC/USD Forex Signal: More Downside as the US Dollar Surges - 16 April 2024
16 Apr 08:33
The BTC/USD pair remained under pressure as the US dollar rally continued.
Xi says China and Germany have huge potential for win-win cooperation
16 Apr 08:17
China and Germany have hug potential for win-win cooperation that needs to be tappedA mutually beneficial cooperation is not a risk, but a guarantee for stable bilateral relationsChin and Germany industrial, supply chains are deeply embedded in each otherBoth countries should be wary of protectionism, should look at production capacity issues 'objectively'Given the state of their respective economies, they might both be better off leaning on one another for now. The meeting looks to be one to reaffirm ties as such. That despite Germany and Europe in general trying to diversify their economic ties from China in recent years. This article was written by Justin Low at www.forexlive.com.
Eurostoxx futures -1.1% in early European trading
16 Apr 08:11
German DAX futures -1.0%UK FTSE futures -1.0%European indices closed yesterday being little changed mostly, missing out on the heavier drop in US stocks late on. Hence, there is an element of catching up to that now. Despite everything, it has mostly been just a hiccup for European indices in April trading. But for now, the retracement momentum is still holding. S&P 500 futures are also still down 0.15% at the moment. This article was written by Justin Low at www.forexlive.com.
Forex Today: Stock Markets See Strong Selling - 16 April 2024
16 Apr 08:10
Global Stock Markets Firmly Lower; Israel Signals Retaliation Likely Soon; USD/JPY Reaches New 34-Year High at ¥154.44; Energies, Precious Metals Firm; Markets Await Canadian CPI Data
UK February ILO unemployment rate 4.2% vs 4.0% expected
16 Apr 08:00
Prior 3.9%Employment change -156k vs 58k expectedPrior -21kAverage weekly earnings +5.6% vs +5.5% 3m/y expectedPrior +5.6%Average weekly earnings (ex bonus) +6.0% vs +5.8% 3m/y expectedPrior +6.1%March payrolls change -67kPrior 20k; revised to -18kIt is a bit of a mixed report as the job numbers are rather weak while wages are still holding at higher levels. The revision to the February payrolls sees the UK labour market report back-to-back negative payrolls in Q1. That's a sign of loosening in the jobs market, with the unemployment rate also ticking higher.From that perspective, it helps to solidify a pivot towards cutting rates. But with the hotter wage numbers, the BOE might feel vindicated to keep market expectations honed in on an August move.GBP/USD is marginally lower at 1.2430, down just 0.1% on the day currently. This article was written by Justin Low at www.forexlive.com.
Germany March wholesale price index +0.2% vs -0.1% m/m prior
16 Apr 08:00
Wholesale prices were up slightly in March but nothing too outstanding. Compared to a year ago, prices are seen down by 3.0%. That continues to underscore some easing in price pressures in the bigger picture at least. This article was written by Justin Low at www.forexlive.com.
UK labour market report on the agenda today
16 Apr 07:30
The dollar is sitting on slightly higher ground as we approach European trading today. The greenback remains buoyed since trading last week, fueled by a couple of key factors:The US CPI data here kicked off renewed fears of inflation being more stubborn than anticipatedSafety flows arising from geopolitical tensions between Israel and IranRisk assets correcting lower amid a combination of the above two factorsTreasuries selling off with 10-year yields now hitting 4.60% - highest in five monthsTo keep things more simple, I would argue that the dollar's strength is just a case of a divergence trade.While all other major central banks are on the cusp of starting rate cuts, the timeline for the Fed just keeps getting pushed back. We've now gone from March to June, and now to September. And the total Fed rate cuts priced in for the year now is just a measly 43 bps. Mind you, this was 156 bps at the end of last year. What a difference four months can make.In any case, that is where we are now.Looking to European trading today, there might not be much to really change that picture. At most, dollar bears can afford for some relief in geopolitical tensions to help arrest the recent surge in the dollar. Otherwise, the trend is your friend and it is tough to pick at a reversal when the technical momentum is still persisting.We will have the UK jobs data coming up but sterling is not likely to be too impacted by that. A BOE rate cut remains poised for some time in August and the labour market data still has some quirks to be ironed out by ONS.0600 GMT - Germany March wholesale price index0600 GMT - UK March payrolls change0600 GMT - UK February ILO unemployment rate0600 GMT - UK February average weekly earnings0800 GMT - Italy March final CPI figures0900 GMT - Eurozone February trade balance data0900 GMT - Germany April ZEW survey current conditions, economic sentimentThat's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there. This article was written by Justin Low at www.forexlive.com.
Dollar continues to stay in prime position
16 Apr 06:20
The dollar continues to stay buoyed in trading this week, as it runs a little higher again today. The stronger US retail sales data from yesterday is reverberating, alongside the geopolitical nuances that are playing out. Rate cut bets have receded significantly with one in September barely fully priced in at the moment. And we have even seen some punters out there taking rate cuts off the table entirely for this year.For today itself, we have seen Japanese officials offer up some verbal intervention to try and quell the USD/JPY advance. And we also have China calling for state banks to step in and push back down the USD/CNY march higher. Those are some limiting factors for the dollar but yet, it remains in prime position.EUR/USD is on its way towards testing 1.0600 with little technical hurdles until 1.0500 potentially. Meanwhile, USD/JPY might have some challenge in touching 155.00 amid intervention risks. But it is still a pair that is looking more poised to hold higher amid the rise in bond yields, at least for now.GBP/USD is also down to its lowest in five months, nearing the 1.2400 mark. Similarly, USD/CAD is up to its highest since November at 1.3800 currently. And we are seeing AUD/USD also at its lowest in five months, nearing the 0.6400 mark.Once again, the great dollar demise has been greatly exaggerated. This article was written by Justin Low at www.forexlive.com.
Heads up for European Central Bank's Nagel speaking Tuesday
16 Apr 05:37
Germany's Bundesbank President (and European Central Bank Governing Council member) Nagel is speaking at 2100 GMT, which is 1600 US Eastern time:a speech at the opening of an art exhibition at Harvard University This article was written by Eamonn Sheridan at www.forexlive.com.
Federal Reserve Chair Powell speaks Tuesday. Also Williams, Jefferson, Barkin
16 Apr 05:24
Times below are in GMT / US Eastern time format:1300 / 0900 Federal Reserve Vice Chair Philip Jefferson speaks on "Monetary Policy During Periods of Uncertainty" before the International Research Forum on Monetary Policy hosted by the Federal Reserve1630 / 1230 Federal Reserve Bank of New York President John Williams moderates a discussion with François Villeroy de Galhau, governor of the Banque de France, before the Economic Club of New York1700 / 1300 Federal Reserve Bank of Richmond President Thomas Barkin speaks on the economic outlook before the Rotary Club of Winston-Salem1715 / 1315 Federal Reserve Chair Jerome Powell participates in moderated discussion before the Washington Forum on the Canadian Economy with Bank of Canada Governor Macklem. Topic is Economic trends in North America This article was written by Eamonn Sheridan at www.forexlive.com.
Bank of England's Lombardelli (next Deputy Governor for Monetary Policy) speaks on Tuesday
16 Apr 05:09
0915 GMT / 0515 US Eastern time - The Bank of England's next deputy governor for monetary policy, Clare Lombardelli, will take questions from lawmakers in parliament's Treasury Committee Lombardelli was the OECD's Chief Economist and G20 Finance Deputy since May 2023was appointed Deputy Governor for Monetary Policy (DGMP), to succeed Ben Broadbent will take up her role at the Bank on 1 July 2024 for a term lasting five yearsAlso, coming up at 1700 GMT / 1300 US Eastern time, Bank of England Governor Andrew Bailey speaks to the IMF via an online event This article was written by Eamonn Sheridan at www.forexlive.com.
Chinese state banks are in the spot market seen selling dollars for CNY
16 Apr 03:58
The People's Bank of China set the CNY weaker today, its weakest in around 6 weeks. The US dollar is, of course, supoer-strong so the Bank is under pressure:PBOC sets USD/ CNY mid-point today at 7.1028 (vs. estimate at 7.2475)Chart is of offshore yuan, USD/CNH. USD/CNH jumped, to be met with the selling. A subdued fall so far. This article was written by Eamonn Sheridan at www.forexlive.com.
PBOC sets USD/ CNY mid-point today at 7.1028 (vs. estimate at 7.2475)
16 Apr 03:15
The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.The previous close was 7.2378The People's Bank of China set the rate up from the long strong of 7.09s as the big figure. The Bank is setting the rate against the backdrop of a surging US dollar. The reference rate today is the weakest (for CNY) since March 1. -PBOC injects 2bn via 7-day RR, sets rate at an unchanged 1.8%2bn yuan of RRs mature todaythus net neutral on the day in OMOs This article was written by Eamonn Sheridan at www.forexlive.com.
Japan chief cabinet secretary Hayashi - Prepared to take all measures on fx
16 Apr 03:00
Japan chief cabinet secretary Hayashi: Won't comment on forex levels, currency interventionImportant for currencies to move in stable manner reflecting fundamentalsExcessive fx volatility undesirableClosely watching fx movesPrepared to take all measures on fxWords like:Excessive fx volatility undesirablePrepared to take all measures on fxrepresent more aggressive remarks than the others above This article was written by Eamonn Sheridan at www.forexlive.com.
Fed's Daly getting with the jargon now, says doesn't know if r* has risen
16 Apr 02:38
Earlier from Daly is here:No urgency to cut ratesMore:We don't know if R-star (more commonly written by the economists as r*) has risenits reasonable to think r* is between 0.5 and 1 Labor force supply increase would be an upside surprise, but I can't count on it to make policy---The term "R star" refers to the natural rate of interest, also known as the neutral interest rate. This is a theoretical concept representing the interest rate that neither stimulates nor restrains the economy when it is operating at full capacity and with stable inflation. The natural rate of interest is important for central banks because it helps them set their policy rates. If the policy rate is above r*, the policy is considered contractionary, which could slow economic growth and lower inflation.Conversely, if the policy rate is below r*, the policy is seen as expansionary, potentially boosting economic growth and raising inflation. Determining the actual value of r* is challenging as it cannot be observed directly. It must be estimated using economic models that consider various macroeconomic factors, such as productivity growth, demographics, and global economic conditions. These estimates can change over time due to shifts in these underlying factors. This article was written by Eamonn Sheridan at www.forexlive.com.
PBOC is expected to set the USD/CNY reference rate at 7.2475 – Reuters estimate
16 Apr 02:21
People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2%. How the process works:Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central bank takes into account factors such as market supply and demand, economic indicators, and international currency market fluctuations. The midpoint serves as a reference point for that day's trading.The trading band: The PBOC allows the yuan to move within a specified range around the midpoint. The trading band is set at +/- 2%, meaning the yuan could appreciate or depreciate by a maximum of 2% from the midpoint during a single trading day. This range is subject to change by the PBOC based on economic conditions and policy objectives.Intervention: If the yuan's value approaches the limit of the trading band or experiences excessive volatility, the PBOC may intervene in the foreign exchange market by buying or selling the yuan to stabilize its value. This helps maintain a controlled and gradual adjustment of the currency's value. This article was written by Eamonn Sheridan at www.forexlive.com.
Fed's Daly says inflation bumps along the way are not particularly surpsising
16 Apr 02:14
Federal Reserve Bank of San Francisco President Mary Daly: Recent inflation data was not surprisingInflation bumps along the way isn't particularly surprisingDon't want to end up with too-strong, or too-weak policy responseDaly gets a little more sensible with these:Worst thing to do is act urgently when urgency isn't necessaryInflation above target, need to be confident it's on the way to target before can reactNo urgency to cut ratesMore:Can't just look at published information, that's backwards lookingEconomy growing at a solid rate, labour market is still strong, inflation above targetOur progress on inflation has been significant, but we are still not there yet This article was written by Eamonn Sheridan at www.forexlive.com.
Japan finance minister Suzuki is closely watching FX moves
16 Apr 01:57
Japan finance minister Suzukiclosely watching FX moveswill take all possible measuresis aware that FX is not set as an agenda item at the G20 meeting, but it may be brought up in conversation at the meetingnot appropriate to comment on whether FX moves too rapid or excessiveThat last point, Suzuki is not even trying to talk some strength into the yen. Earlier:Stop with the USD/JPY Numberwang intervention level guesses - do this instead This article was written by Eamonn Sheridan at www.forexlive.com.
Stop with the USD/JPY Numberwang intervention level guesses - do this instead
16 Apr 01:12
I've posted this before, but it will not get old while random numbers for where the Bank of Japan will intervene continue to be spouted. An alternative is to be aware of what to watch for for signs of intervention becoming imminent. I have a guide at these posts here:The clear signals to watch for imminent Bank of Japan FX yen interventionHere's what to watch for to warn of imminent Bank of Japan (BOJ) yen interventionThe 4 things to watch prior to Bank of Japan FX yen intervention155.00 fer shur! LOL. -If you are curious about the mechanics of intervention and why you should be watching the MoF instead of the BOj:The Ministry of Finance (MOF) in Japan is responsible for formulating foreign exchange policy in the country, while the Bank of Japan (BOJ) is responsible for executing such policies, particularly in terms of FX intervention.The MOF can decide to intervene in the FX market if it believes (in the current situation) the yen is too weak. Once the MOF decides to intervene, it gives instructions to the BOJ. The BOJ then conducts operations in the FX market by (in current circumstances) buying yen. The Foreign Exchange Fund Special Account (FEFSA), which falls under the jurisdiction of the MOF, is used for interventions. You will note that in the current situation, where the BOJ would buy yen, they will dip into USD reserves to fund the other side of the trade, buying USD (or other currencies if needed).The BOJ's operations are usually conducted through commercial banks that deal in the foreign exchange market. They may be spot transactions, or forward transactions that are set to occur at a future date. Note that while the MOF has the ultimate authority to decide when to intervene, it does so in close consultation with the BOJ. The BOJ provides expertise and advice on monetary and financial market conditions, which can influence the MOF's decision. This collaboration reflects the balance between the roles of the two entities: the MOF as the government's chief financial and economic advisor, and the BOJ as the country's central bank that maintains stability in the financial system. This article was written by Eamonn Sheridan at www.forexlive.com.
Fed rate cut expectations - Société Générale expect no interest rate cut in 2024
16 Apr 00:55
Société Générale has revised its forecasts for the Federal Open Market Committee (FOMC), now see no cut in Fed Funds until 2025:SG cite continued strong US economic data helping to fuel continued above target inflation"Consumer prices picked up significantly in the early months of 2024 compared to the latter half of 2023.""The Fed probably perceives this as a temporary three-month fluctuation. Nevertheless, this development may have shaken their confidence, which seems unlikely to recover in time for rate cuts this year."Barclays, meanwhile, have revised their forecast to project a cut from the FOMC in December 2024, from September previously. Barclays were also expecting a cut at every other meeting after this, but have abandoned this forecast also. This article was written by Eamonn Sheridan at www.forexlive.com.
Bank of Japan to place less emphasis on inflation rate when setting monetary policy
15 Apr 23:57
Reuters carried this report, citing unnamed sources for their information:The Bank of Japan is shifting to a more discretionary approach in setting policyless emphasis on inflation ... "Various data must be scrutinised, not just the inflation outlook" . such as consumption, wages and the broader economyBOJ next meet on April 25 & 26, and will issue fresh quarterly growth and CPI projections BOJ is expected to project inflation to stay around its 2% target through early 2027More at that link above, worth a read if you are interested. ---Dats ahead for the BOJ: This article was written by Eamonn Sheridan at www.forexlive.com.
USD/JPY Analysis: No End in Sight for the Yen's Slump - 15 April 2024
15 Apr 15:41
The USD/JPY continued its remarkable rally last week amid continued signals of further tightening by the US Federal Reserve.
GBP/USD Analysis: Heading Towards 1.2300 Support - 15 April 2024
15 Apr 15:33
The GBP/USD continued its decline last week as the US Dollar Index (DXY) gained strength.
EUR/USD Analysis: Bearish Dominance May Extend - 15 April 2024
15 Apr 15:27
The EUR/USD fell to a five-month low of 1.0622 support amid risk aversion and a negative outlook for the future of ECB policy at the end of last week's trading.
Fed's Williams: Overall economy will continue to grow this year around 2%
15 Apr 14:37
Consumer spending has been strongThere are tailwinds from the supply side of the economyI don't see the recent inflation data as turning pointMarkets are taking slower inflation progress into accountI'm data dependent as alwaysI don't see anything notable here. This article was written by Adam Button at www.forexlive.com.
ECB's Lane: Deceleration in wage growth is necessary to get inflation to target
15 Apr 14:04
Wage pressures are gradually moderating but remain elevatedWhile services inflation should decline somewhat in the near term, it is expected to remain relatively elevated for most of the yearHeadline inflation is expected to fluctuate around current levels in the near termIt should be recognized that the current phase of disinflation is necessarily bumpyLane continues to see inflation dropping to target in 2025. This article was written by Adam Button at www.forexlive.com.
USD/TRY Forecast: Market Moves & Trading Tips
15 Apr 13:56
The pair rose in early trading today, at the same slow upward pace.
ECB's Kazimir: ECB can cut rates in June given persistent fall in inflation
15 Apr 13:32
ECB can cut rates in June given persistent fall in inflation, restriction can be gradually reducedECB not committing to any policy path beyond JuneEconomic recovery taking hold, will accelerate in H2I don't think there's any doubt about the ECB plan from here. This article was written by Adam Button at www.forexlive.com.
ECB's Rehn: Rates can be lowered in June if inflation slows as expected
15 Apr 13:30
There are a chorus from the ECB teeing up a June rate cut. This article was written by Adam Button at www.forexlive.com.
Gold Analysis: Opportunity to Rebound Upwards
15 Apr 12:42
The upward breakout trend in gold prices continues with only a slight and temporary pause.
USD/ZAR Analysis: Turn Higher as U.S Inflation Numbers Cause Reaction
15 Apr 11:26
Upon the higher than expected U.S inflation numbers published last Wednesday the USD/ZAR saw a swift bolt upwards.
EUR/USD Forex Signal: No Real Direction
15 Apr 11:00
A short scalp off $1.0700 could be the best opportunity today.
USD/JPY Forecast: Finding Support
15 Apr 10:58
The US dollar initially pulled back against the Japanese yen during the trading session on Friday, but at this point in time, have turned around to show signs of strength.
S&P 500 Forecast: Earnings Kick Off
15 Apr 10:50
The S&P 500 fell a bit during the trading session on Friday, but we continue to see a bit of support near the 5,150 level.
Bank of Japan could hike rates regardless of its inflation forecasts - report
15 Apr 10:43
Reuters is out with a Bank of Japan sources report that says there will be less of an emphasis on inflation. The report also says that the upcoming round of inflation forecasts won't hint at hikes.BOJ could hike rates regardless of its inflation forecasts, as long as it becomes more convinced than before that Japan will sustainably hit its price goal.BOJ expected to project inflation to stay around its 2% target through early 2027, but forecasts alone won't serve as strong hints of a near-term rate hike, say three sources familiar with its thinking."Various data must be scrutinised, not just the inflation outlook," one of the sources said, pointing to the importance of other indicators such as consumption, wages and the broader economy.Market watchers split between expecting July hike or something in Q4A rebound in consumption is likely a prerequisite for another rate hikeUSD/JPY is up 62 pips to 153.89 so far today and the yen is the G10 laggard. This article was written by Adam Button at www.forexlive.com.
Forex Today: Risk Sentiment Improves as Mideast Tension Lowers
15 Apr 09:51
Immediate Retaliation Against Iran Unlikely; USD/JPY Breaks Out to New 34-Year High Near ¥154; Market Await US Retail Sales Data
ECB's Simkus: Rate cut is also possible in July
15 Apr 09:31
There's no stronger telegraph of a June decision than already treating it as a done deal. Simkus says a further cut in July is also possible. He says there is a more-than 50% chance of three rate cuts this year. Current ECB cut pricing is for 81 bps. This article was written by Adam Button at www.forexlive.com.
Japan finance minister Suzuki says watching FX moves closely
15 Apr 05:30
Suzuki says further that he wants to be fully prepared re the movement in FX (ie the weaker yen). These are wishy-washy comments so far. This article was written by Eamonn Sheridan at www.forexlive.com.
Federal Reserve Bank of Dallas President Lorie Logan is speaking soon, at 0630 GMT
15 Apr 05:15
0630 GMT / 0230 Federal Reserve Bank of Dallas President Lorie Logan participates in panel before the IMF-BOJ Conference: "Gender Diversity in the Workplace as a Key to Economic Growth,"This doesn't sound like it will contain comments of relevance to traders on the economy or monetary policy. But, perhaps in any Q&A.Logan spoke last week. Not dovish:Fed's Logan: It's much too soon to think about cutting interest rates This article was written by Eamonn Sheridan at www.forexlive.com.
European Central Bank chief economist Philip Lane is speaking on Monday
15 Apr 04:51
At 1300 GMT / 0900 US Eastern time - ECB board member Philip R. Lane will give a lecture at the University College Dublin Economics Society in Dublin, IrelandWe heard from his colleague Villeroy over the weekend:Villeroy says the European Central Bank is likely to cut interest rates in June This article was written by Eamonn Sheridan at www.forexlive.com.

Crypto News


Arbitrum’s Massive $107 Million Token Unlock Threatens To Send Price Below $1
16 Apr 16:00
Arbitrum (ARB) runs the risk of a significant price decline due to its upcoming token unlock on April 16. These token unlock events are known to be a recipe for high volatility because of what could happen in the aftermath of their occurrence.  $107 Million Arbitrum Tokens Set To Be Unlocked Data from TokenUnlock shows that 92.65 million Arbitrum tokens (3.49% of its circulating supply) are set to be unlocked on April 16. 56.13 million ($65.10 million) of these tokens will be distributed to the team, future team, and advisors, while the remaining 36.52 million ($42.36 million) will be distributed to investors.  Related Reading: Dogecoin Whales Send 800 Million DOGE To Exchanges, Dump Incoming? Token unlocks are usually followed by a wave of massive sell-offs from the beneficiaries, which causes the token’s price to drop. As such, Arbitrum’s price could also suffer the same fate once these tokens are distributed. However, this won’t be the first time, considering Arbitrum suffered a significant price decline during its last token unlock on March 16.  Data from CoinMarketCap shows that Arbitrum’s price, which closed the previous day at above $2, dropped to $1.8 on March 16. However, it is worth noting that the magnitude of this month’s token unlock is nothing compared to last month’s, when 1.11 billion Arbitrum tokens (41.89% of its circulating supply) were unlocked.  Therefore, the impact of any potential sell-off on the market might not be as severe as the last time. Despite that, Arbitrum still risks dropping below the $1 support level for the first time in a long while, as it is currently hovering around that price range.  Other Token Unlocks To Watch Out For $76.96 million worth of Axie Infinity (AXS) tokens (7.6% of circulating supply) will also be unlocked this week on April 17. 3.10 million of these tokens will be distributed as staking rewards, while 6.08 million and 1.69 million tokens will be distributed to the team and ecosystem fund, respectively.  Related Reading: Bitcoin Miners To Lose A Whopping $10 Billion Following The Halving – Here’s Why Meanwhile, like Arbitrum, Apecoin (APE) is another token that risks dropping below $1 with its upcoming token unlock on April 17. $18.57 million worth of Apecoin tokens (2.48% of circulating supply) will be unlocked, with most of these tokens going to the Yuga Labs founder. A significant drop in Apecoin’s price could further compound the bearish outlook of the Yuga Labs ecosystem, as the Bored Ape NFT is already down 90% from its peak.  ARB price drops to $1.11 | Source: ARBUSDT on Tradingview.com Featured image from CoinGape, chart from Tradingview.com
Imminent BTC Supply Squeeze: Bybit Report Suggests Bitcoin Exchanges to Run Dry in 9 Months
16 Apr 15:43
As the crypto landscape evolves, a significant tightening in bitcoin’s available supply on exchanges has emerged, hinting at just nine months of reserves left. Bybit’s latest halving report unveils the reasons behind this tightening grip, indicating a looming scarcity that could reshape market dynamics. Bitcoin Faces Unprecedented Supply Squeeze as Exchange Reserves Plummet According to […]
‘We Sold Everything Last Night’, Reveals Crypto Research Firm
16 Apr 15:00
Markus Thielen of 10x Research unveiled a significant shift in his crypto strategy in response to mounting financial pressures and market instability, as detailed in an investor note released earlier today. Thielen, an influential figure in the analysis sector, cited a concerning outlook on risk assets, which encompasses both technology stocks and cryptocurrencies, primarily driven by unanticipated and ongoing inflation rates. According to projections from Bank of America, US CPI headline inflation is expected to reach 4.8% by the November 2024 election. Over the past three months, month-over-month CPI inflation has averaged 0.4%. An acceleration at this speed would mean the rate is more than twice the Federal Reserve’s inflation target of 2% by November. Why 10x Research Sold (Almost) All Crypto And Risk Assets In light of this, 10x Research’s decision to divest from risky assets was catalyzed by an adverse shift in economic indicators. Notably, the US bond market is currently projecting fewer than three Federal Reserve rate cuts this year, a significant adjustment from earlier more optimistic forecasts. According to the CME FedWatch tool, the majority of market participants now think that a rate cut by the Fed will not come before the mid-September FOMC meeting. Additionally, the 10-year Treasury Yields have reached a peak of 4.61% this month, marking the highest rate since November 2023, further complicating the investment landscape for risk assets including technology stocks and cryptocurrencies. Related Reading: Bitcoin, Altcoins Price Decline As Crypto Liquidations Near $900 Million In The Past Day “Our growing concern is that risk assets are teetering on the edge of a significant price correction,” Thielen stated in the note. “We sold all our tech stocks last night as the Nasdaq is trading very poorly and reacting to the higher bond yield. We only hold a few high-conviction crypto coins. Overall, we are bearish on risk assets.” The bearish stance is further supported by the disappointing performance of US-listed spot Bitcoin ETFs. Despite the SEC’s approval of nearly a dozen such ETFs in January, which initially spurred a surge in Bitcoin prices, the influx of capital has markedly slowed. This month, the five-day average net inflows into these ETFs plummeted to zero, a stark contrast to the nearly $12 billion that flowed into these investment vehicles earlier in the year. Thielen’s comments also touched on the broader implications of the upcoming Bitcoin network’s quadrennial halving, scheduled for April 20. This event will reduce the reward for mining a block of Bitcoin by 50%, from 6.25 BTC to 3.125 BTC. While such halvings have historically spurred bullish sentiment and price increases due to a perceived scarcity of Bitcoin, Thielen suggests that the current market conditions might dampen any potential rallies. “It is essential to understand that trading is a continuous game with high-conviction opportunities. The key is to keep analyzing the markets and uncovering those opportunities when the odds are in your favor. There are times when we advocate for a total risk-on approach and when the priority is safeguarding your capital, enabling you to seize opportunities at lower levels,” Thielen stated. Related Reading: Nervos Network CKB Token: The Market Disruptor With 75% Uptrend, Outshining Top 100 Cryptos In a notable exchange with Matthew Graham of Ryze Labs, Thielen defended his firm’s trading strategy amid criticism for what was described as erratic decision-making. Graham pointed to recent fluctuations in 10x Research’s stance on Bitcoin, citing a research note from early April that predicted a potential rally to $80,000, followed by a more cautious view and the recent sell-off. Thielen responded, “Actually, no. We have been cautious since March 8, and when the triangle breakout failed, we worked with the $68,300 stop loss. This is simply risk-reward trading.” This defense highlights the volatile nature of crypto trading and the necessity for agile strategies in response to rapidly changing market conditions. Thielen concluded, promising a strong re-entry into the market under more favorable conditions: “Will buy back with both hands at 52,000 – promise.” At press time, BTC traded at $63,045. Featured image from Shutterstock, chart from TradingView.com
Elon Musk Latest Tweet: How Much Did Dogecoin Gain From It Today?
16 Apr 14:30
The cryptocurrency market tends to thrive on a blend of innovation, utility, and sometimes, just a good meme. This week, the spotlight shone brightly on Dogecoin (DOGE), the Shiba Inu-themed meme coin, after a characteristically playful tweet from tech billionaire Elon Musk sent prices soaring. Related Reading: Ethereum Fire Sale? Deep-Pocketed Investor Snags Nearly 24,000 ETH At Bargain Price While the tweet itself referenced a scene from Monty Python and didn’t directly mention Dogecoin, its timing, with DOGE hovering near the cusp of the top 10 cryptocurrencies by market cap, proved to be enough to ignite a firestorm of trading activity. This latest episode serves as a stark reminder of the immense influence Musk wields over the meme coin market, and the hair-trigger reflexes of Dogecoin’s dedicated community. pic.twitter.com/wXlbpNU97H — Elon Musk (@elonmusk) April 15, 2024 Dogecoin Rollercoaster Ride Continues This isn’t the first time Musk has sent shockwaves through the Dogecoin world. In 2021, his enthusiastic endorsements, including a now-famous appearance on Saturday Night Live where he jokingly referred to himself as the “Dogefather,” propelled DOGE to its all-time high. However, the meme coin’s meteoric rise proved unsustainable, and prices eventually settled into a lower, but still respectable, position. Bitcoin is now trading at $62.611. Chart: TradingView Currently, Dogecoin sits comfortably as the eighth-largest cryptocurrency, boasting a market cap of over $22 billion. However, there was a different narrative in the price department. At the time of writing, DOGE was trading at $0.15, down 8.4% and 22.9% in the daily and weekly timeframes, data from Coingecko shows. Clearly, the Musk tweet magic didn’t work this time. Or, perhaps not yet? DOGE 24-hour price action. Source: Coingecko A quick look at DOGE’s daily chart reveals a classic case of price resistance, where the coin struggles to break through specific price ceilings. This back-and-forth price action reflects the ongoing battle between enthusiastic buyers, emboldened by figures like Musk, and more cautious investors wary of the coin’s unpredictable nature. Related Reading: Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window No Price Boost This Time Elon Musk’s tweets have long been synonymous with skyrocketing memecoin values, yet today’s unexpected downturn in Dogecoin following his latest post underscores the volatile and unpredictable terrain of cryptocurrency markets. This stark deviation from the usual trajectory serves as a poignant reminder that even the most influential voices in the industry cannot fully control or anticipate the market’s whims and fluctuations. It highlights the inherent risks and complexities investors face as they navigate this ever-evolving landscape, where sentiments can shift swiftly, leaving even seasoned traders reeling from the abrupt changes. Featured image from Pexels, chart from TradingView
Umoja Partners With Merlin Chain to Launch Bitcoin’s First High-Yield Synthetic Dollar
16 Apr 14:21
The smart money protocol Umoja has joined forces with the Bitcoin layer two (L2) initiative, Merlin Chain, to roll out a Bitcoin-based high-yield synthetic dollar. The newly introduced stablecoin is engineered to uphold a self-sustaining peg via transparent, onchain trading techniques developed by Umoja. Merlin Chain and Umoja Reveal USDb: The New High-Yield Synthetic Dollar […]
Bitcoin Price Slips Below $62,000 as Pre-Halving Momentum Stalls
16 Apr 13:27
The price of Bitcoin plunged overnight amid mounting geopolitical tensions and a strong dollar, coupled with pre-halving volatility.
‘Real-World Implementations of Both AI and Web3’ Fuel AI Tokens’ Rally, Says Daniel He
16 Apr 13:19
With socialfi platforms, financial incentives serve not only as a reward mechanism for content creators but also “fundamentally transform the engagement model for all users,” Daniel He, the CEO of the artificial intelligence (AI)-powered socialfi platform, Republik, said. He believes that by offering incentives for user engagement beyond liking or commenting, socialfi platforms have a […]
Etherland Tecra Space Crowdfunding Goes Live
16 Apr 13:00
PRESS RELEASE. The Etherland Tecra Space campaign has officially gone live, giving participants the opportunity to stake their claim in a real-world assets (RWA) blockchain project that approaches on-chain real estate with a unique angle. This campaign aims to accelerate the development of innovative RWA solutions powered by blockchain technology for the real estate industry. […]
Ethereum Fire Sale? Deep-Pocketed Investor Snags Nearly 24,000 ETH At Bargain Price
16 Apr 12:30
Ethereum, the second-largest cryptocurrency by market capitalization, has faced choppy waters. Over the past few days, Ethereum’s price has taken a nosedive, plunging to lows of $2,800 on April 12, echoing the broader downturn witnessed across the crypto landscape. Related Reading: Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window However, in the face of volatility, a fascinating development has emerged: Ethereum whales, the behemoths of the crypto world, have begun to flex their muscles, showcasing strategic maneuvers that have captured the attention and speculation of the crypto community. Strategic Accumulation Amidst Turbulence As Ethereum’s price plummeted, Ethereum whales wasted no time in capitalizing on the opportunity. One notable example is the whale identified as “0x435,” which embarked on a strategic accumulation spree as the ETH price dipped. With a staggering investment of 70 million USDC, this whale acquired a hefty 23,790 ETH when Ethereum hit nearly $2,930. However, this wasn’t a spur-of-the-moment decision; rather, it was part of a calculated strategy that unfolded over several days, involving significant transactions and withdrawals from both centralized exchanges like Binance and decentralized exchanges. Despite the recent 8% correction in the $ETH price (24H), whales are still buying $ETH! 1. Whale 0x435 spent 70M$ USDC to buy 23,790 $ETH at ~$2,942 4 hours ago: • In total, the whale has accumulated 60,808 $ETH ($191M) from #Binance and DEX in the past 15 hours, after each… pic.twitter.com/ujZRULGAkX — Spot On Chain (@spotonchain) April 14, 2024 The Right Timing The actions of “0x435” are just the tip of the iceberg in the wider phenomenon of Ethereum accumulation by large holders. On-chain analytics firms, such as Spot On Chain and Lookonchain, have provided insights into the scale and timing of these whale transactions, revealing a pattern of strategic accumulation amidst the market turbulence. This whale spent 70M $USDC to buy 23,790 $ETH at $2,942 from the bottom again after $ETH dropped. He has bought 85,931 $ETH($278.5M) from #Binance and #DEX in the past week, with an average buying price of $3,241. He still holds $136M stablecoins and may buy more $ETH.… pic.twitter.com/d7yYdqEnDB — Lookonchain (@lookonchain) April 14, 2024 These whales aren’t acting alone; they’re part of a broader trend that suggests institutional players or sophisticated investors are positioning themselves strategically in anticipation of future market movements. Ethereum’s Journey Through The Storm The broader context of Ethereum’s price movement adds another layer to this unfolding saga. Ethereum’s decline over three consecutive days, from highs of $3,617 to lows of $2,850 on April 13, underscores the volatility and uncertainty gripping the cryptocurrency market. However, amidst the stormy seas, Ethereum managed to make a slight recovery, climbing back up to $3,107 at the time of writing, albeit still down 6.05% in the last 24 hours. Ethereum is currently trading at $3.107. Chart: TradingView Hong Kong Gives Nod To Ethereum ETFs In another development, as the first jurisdiction to permit trading in Bitcoin and Ethereum cash exchange-traded funds (ETFs), Hong Kong has set new precedents. The Securities and Futures Commission (SFC) of Hong Kong has previously granted permission to many prominent financial corporations to establish these exchange-traded funds (ETFs), while the US Securities and Exchange Commission (SEC) is currently reviewing comparable applications. Related Reading: Bitcoin Investors In The Red: Losses Trump Profits As Ratio Dips Below 1 The SFC has given the all-clear to several top financial institutions, including China Asset Management, Bosera Capital, and HashKey Capital Limited, to launch Bitcoin and Ethereum cash exchange-traded funds (ETFs). When combined, these cutting-edge financial instruments let investors to pay cash for shares in Ethereum and Bitcoin. Featured image from Pexels, chart from TradingView
Hans Zimmer Composes Anthem for TRON, Coining It the ‘Web3 Generation’ Theme Song
16 Apr 12:09
Academy award-winning composer Hans Zimmer has created an anthem for TRON, founded by the controversial entrepreneur Justin Sun, a prominent figure in the cryptocurrency space known for his brash personality. The Tron Anthem by Zimmer, dubbed the song for the “Web3 Generation,” aims to encapsulate the trials Sun has faced, amidst Sun being sued by […]
Gold Beats Its All Time High
16 Apr 11:53
Bitcoin (BTC) maintains its trend of reaching higher lows amidst choppy market conditions. Exchange-traded funds (ETFs) witness another influx of $125 million. There's anticipation of Hong Kong approving ETFs for both Bitcoin and Ethereum (ETH) come Monday. Notable institutional investor BlackRock shows interest in Bitcoin. Recent filings reveal increased Bitcoin purchases by banks. A Bitcoin-friendly political party secures victory in the South Korean election. Analyst Kang predicts Bitcoin could surge to $80-100k by May. Meanwhile, Ethereum sees accumulation by stablecoin whales on the rise. A new Ethereum Improvement Proposal (EIP) aims to streamline signing requests. Solana (SOL) experiences a resurgence in activity, reaching yearly highs.
Experts: Nigeria’s Binance Crackdown Shakes Investor Confidence
16 Apr 11:37
The Nigerian government’s crackdown on cryptocurrency exchanges, including its targeting of Binance, has prompted some cryptocurrency firms to reconsider plans to either enter or further invest in the West African nation. A founder of a cryptocurrency exchange stated that the crackdown on Binance raises questions about the fundamental rule of law necessary for any society […]
Bitcoin Investors In The Red: Losses Trump Profits As Ratio Dips Below 1
16 Apr 09:38
Investors are bracing themselves for a rollercoaster ride as Bitcoin, the flagship digital asset, navigates through choppy waters. Recent data from Glassnode has revealed a noteworthy development: the Realized Profit/Loss Ratio for Bitcoin has dipped below one. Related Reading: Bitcoin Below $70,000: Is $80K Still Possible, Or Is The Rally Over? This crucial metric, which compares the sell value of Bitcoin with the price at which it was bought, indicates that investors are currently realizing more losses than profits. Historically, such a dip has often heralded a potential bottoming out of Bitcoin’s price, serving as a vital signal for market watchers. Sense Of Optimism Despite Bitcoin Price Decline The past 24 hours have witnessed significant volatility in Bitcoin’s price trajectory. A sharp decline early in the day saw Bitcoin’s price plummet to approximately $64,000, worrying many investors. However, a remarkable recovery ensued, with the price steadily climbing and peaking at around $66,000. This robust rebound has instilled a sense of optimism, with a prevailing bullish sentiment taking hold as the day progressed. Total crypto market cap currently at $2.261 trillion. Chart: TradingView Institutional interest in Bitcoin continues to grow, with recent developments signaling potential shifts in capital inflows. The approval of a spot Bitcoin ETF by Hong Kong regulators has opened the floodgates for increased institutional engagement, particularly from Asia. This move could inject fresh capital into Bitcoin markets, potentially fueling further price momentum. Furthermore, regional dynamics play a significant role in shaping investor sentiment and behavior. Varying investment trends across different regions highlight the diverse responses to prevailing market conditions. While some regions may exhibit cautious sentiment amidst volatility and geopolitical uncertainties, others may embrace Bitcoin as a hedge against inflation and currency devaluation. Critical Support Levels Bitcoin analyst Willy Woo has pinpointed a critical support level at $59,000. Breaching this threshold could signify a transition into a bearish market sentiment. Conversely, there’s anticipation among investors for potential short liquidations that could drive the price upwards, potentially reaching between $70,000 and $75,000, provided that current support levels hold steady. These anticipated events hinge on market liquidity and investor reactions to the rapidly evolving price movements. As Bitcoin continues its consolidation phase near all-time highs, investors remain cautiously optimistic about its future prospects. The upcoming halving event adds another layer of complexity to the already intricate market dynamics, with expectations of heightened volatility in the days ahead. Related Reading: Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window Analysts suggest that this period of lateral movement serves as a crucial stage for the redistribution of assets among investors, potentially laying the groundwork for a more sustainable recovery in the long run. The cryptocurrency market, particularly Bitcoin, is navigating through a period of heightened uncertainty and volatility. The recent dip in the Realized Profit/Loss Ratio signals a potential turning point in Bitcoin’s price trajectory, while institutional interest and regional dynamics continue to shape market sentiment. Featured image from Pexels, chart from TradingView
Runes Protocol to Debut Alongside Bitcoin Halving, Could Boost BTC Ecosystem
16 Apr 09:31
As the halving is set to occur between April 19-20, 2024, a substantial number of crypto enthusiasts are eagerly preparing for the Runes protocol. The concept of Runes was developed by the creator of Ordinals, Casey Rodarmor, and has been met with considerable enthusiasm since its announcement in September 2023. The following is a comprehensive […]
Why The Bitcoin Halving Matters, But Not The Way You Think: Expert
16 Apr 08:20
David Lawant, Head of Research at FalconX, a digital assets prime brokerage with trading, financing, and custody for leading financial institutions, recently offered an analysis on X (formerly Twitter) regarding the evolving role of Bitcoin halvings in market dynamics. This analysis challenges the traditional view that halvings directly and significantly affect Bitcoin’s price, instead highlighting a broader economic and strategic context that might be influencing investor perceptions and market behavior more profoundly. The Miner’s Diminishing Impact On Bitcoin Price Lawant begins by addressing the changing impact of Bitcoin miners on market prices. He presents a detailed chart comparing the total mining revenue to the Bitcoin spot traded volume from 2012 onwards, clearly marking the dates of the three previous halvings. This data reveals a significant shift: “The most crucial chart for comprehending halving dynamics is the one below, not the price chart. It illustrates the proportion of total mining revenue compared to BTC spot traded volume since 2012, with the three halving dates marked.” In 2012, total mining revenue was multiples of the daily traded volume, highlighting a time when miners’ decisions to sell could have significant impacts on the market. By 2016, this figure was still a notable double-digit percentage of daily volume but has since declined. Lawant emphasizes, “While miners remain integral to the Bitcoin ecosystem, their influence on price formation has notably waned.” Related Reading: Bitcoin Readying For A 12-Year Bull Run To $650,000 If Bulls Take Charge: Analyst He elaborates that this reduction is partly due to the increasing diversification of Bitcoin holders and the growing sophistication of financial instruments within the cryptocurrency market. Furthermore, not all mining revenue is immediately impacted by halving events—miners may choose to hold onto their rewards rather than sell, affecting the direct impact of reduced block rewards on supply. Lawant connects the timing of halvings to broader economic cycles, proposing that halvings do not occur in isolation but alongside significant monetary policy shifts. This juxtaposition increases the narrative impact of halvings, as they underscore Bitcoin’s attributes of scarcity and decentralization during periods when traditional monetary systems are under stress. “Bitcoin halving events tend to occur during critical monetary policy turning points, so the narrative fit is just too perfect to assume they cannot influence prices,” Lawant observes. This statement suggests a psychological and strategic dimension where the perceived value of Bitcoin’s scarcity becomes more pronounced. Related Reading: Bitcoin Whales Showing Different Behavior From Past Cycles, But Why? The analysis then shifts towards the macroeconomic environment influencing Bitcoin’s appeal. Lawant references the 2020 discussion by investor Paul Tudor Jones who labeled the economic climate as “The Great Monetary Inflation,” a period marked by aggressive monetary expansion by central banks. Lawant argues, “I’d argue that this was a more important factor in the 2020-2021 bull run than the direct flow impact from the halving,” pointing out that macroeconomic factors may have had a more substantial influence on Bitcoin’s price than the halving itself. Future Prospects: Macroeconomics Over Mechanics Looking towards the future, Lawant speculates that as the world enters a new phase of economic uncertainty and potential monetary reform, macroeconomic factors will increasingly dictate Bitcoin’s price movements rather than the mechanical aspects of halvings. “Now in 2024, the concerns center around the aftermath of the fiscal/monetary policies that have been in place for decades but are getting turbocharged in a world that is very different from four years ago. […]  We are potentially entering a new leg of this macroeconomic cycle, and macro is becoming a more critical factor in BTC price action,” he concludes. This perspective suggests that while the direct price impact of Bitcoin halvings may diminish, the broader economic context will likely highlight Bitcoin’s fundamental properties—immutability and a fixed supply cap—as crucial anchors for its value proposition in a rapidly evolving economic landscape. At press time, BTC traded at $62,873. Featured image created with DALL·E, chart from TradingView.com
Hans Zimmer Composed a Tron 'Anthem' for Justin Sun—Yes, Really
16 Apr 08:01
Controversial crypto founder Justin Sun now has his own Hollywood anthem, though it’s still unclear whether he paid for it.
Bank of Russia Supports Cryptocurrency Usage for International Settlements
16 Apr 07:34
The Bank of Russia has announced that it will support accelerating the adoption of cryptocurrency payments for international settlements. According to Elvira Nabiullina, governor of the Bank of Russia, these crypto-based payments must be launched in a sandbox-style experimental regime. In contrast, payments with national digital assets will be launched without similar precautions. Bank of […]
Edward Snowden Sounds Alarm on NSA’s Plans to Expand Surveillance Under New FISA Amendment
16 Apr 07:31
NSA whistleblower Edward Snowden has warned that the National Security Agency (NSA) is on the verge of significantly expanding its surveillance capabilities through a new bill amending Section 702 of the Foreign Intelligence Surveillance Act (FISA), potentially allowing the government to compel a wide array of businesses and individuals to assist in NSA surveillance operations. […]
DOGE Price Prediction – Dogecoin Could Restart Drop To $0.12
16 Apr 07:08
Dogecoin is struggling below the $0.180 resistance zone against the US Dollar. DOGE must stay above the $0.1450 support zone to start a fresh increase. DOGE started a fresh decline below the $0.1750 zone against the US dollar. The price is trading above the $0.1700 level and the 100 simple moving average (4 hours). There is a key contracting forming with support at $0.1540 on the 4-hour chart of the DOGE/USD pair (data source from Kraken). The price could restart its increase unless there is a close below the $0.1450 support. Dogecoin Price Turns Red After struggling to clear the $0.20 resistance zone, Dogecoin price started a fresh decline. There was a sharp bearish move below the $0.180 and $0.1650 levels. DOGE traded as low as $0.1283 and recently attempted a recovery wave like Bitcoin and Ethereum. The price climbed above the $0.1450 level. It broke the 23.6% Fib retracement level of the downward move from the $0.2096 swing high to the $0.1283 low. However, the bears are active near the $0.1680 resistance and the 50% Fib retracement level of the downward move from the $0.2096 swing high to the $0.1283 low. The price is now consolidating near the $0.1550 level. There is also a key contracting forming with support at $0.1540 on the 4-hour chart of the DOGE/USD pair. Source: DOGEUSD on TradingView.com Dogecoin is also below the $0.1600 level and the 100 simple moving average (4 hours). On the upside, the price is facing resistance near the $0.160 level. The next major resistance is near the $0.170 level. A close above the $0.170 resistance might send the price toward the $0.1880 resistance. The next major resistance is near $0.200. Any more gains might send the price toward the $0.220 level. More Downsides in DOGE? If DOGE’s price fails to gain pace above the $0.160 level, it could continue to move down. Initial support on the downside is near the $0.1520 level. The next major support is near the $0.1450 level. If there is a downside break below the $0.1450 support, the price could decline further. In the stated case, the price might decline toward the $0.120 level. Technical Indicators 4 Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone. 4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level. Major Support Levels – $0.1520, $0.1450 and $0.1280. Major Resistance Levels – $0.1600, $0.1780, and $0.200.
Ethereum Price Recovery In Jeopardy? Decoding Key Hurdles To Fresh Increase
16 Apr 06:15
Ethereum price is facing many hurdles near $3,200. ETH could gain bearish momentum if the price stays below $3,200 and $3,280. Ethereum is struggling to recover above the $3,200 resistance zone. The price is trading below $3,200 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $3,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another decline if there is a close below the $3,000 support zone. Ethereum Price Faces Hurdles Ethereum price started a recovery wave above the $3,000 resistance zone. ETH was able to climb above the $3,120 level. However, the bears were active near the $3,280 resistance zone. A high was formed at $3,278 and the price started a fresh decline, like Bitcoin. There was a move below the $3,200 support zone. The price declined below the 23.6% Fib retracement level of the recovery wave from the $2,537 swing low to the $3,278 high. There was also a break below a connecting bullish trend line with support at $3,100 on the hourly chart of ETH/USD. Ethereum is now trading below $3,200 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,200 level. The first major resistance is near the $3,250 level. The next key resistance sits at $3,280, above which the price might test the $3,350 level. The key hurdle could be $3,500, above which Ether could gain bullish momentum. Source: ETHUSD on TradingView.com In the stated case, the price could rise toward the $3,620 zone. If there is a move above the $3,620 resistance, Ethereum could even rise toward the $3,750 resistance. More Losses In ETH? If Ethereum fails to clear the $3,200 resistance, it could continue to move down. Initial support on the downside is near the $3,000 level. The first major support is near the $2,900 zone or the 50% Fib retracement level of the recovery wave from the $2,537 swing low to the $3,278 high. The next key support could be the $2,820 zone. A clear move below the $2,820 support might send the price toward $2,650. Any more losses might send the price toward the $2,550 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $3,000 Major Resistance Level – $3,200
Bitcoin Bears Beware: $3 Billion Short Liquidation Looms At This Price Mark, Warns Analyst
16 Apr 06:00
The Bitcoin market is currently on edge as prominent analyst Crypto Rover warns of a potential liquidation event that could negatively affect the short holders. With Bitcoin trading within a significant consolidation phase, as revealed by Rover, analysis suggests that over $3 billion in short positions could face liquidation should Bitcoin climb back to a specific price mark. Related Reading: Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window Bitcoin Bears Beware Of This Price Range According to Rover, the crucial price mark, which is the $71,600 region, is where the $3 billion short liquidation would occur if Bitcoin reclaims it. Rover’s assessment is based on data gathered from CoinGlass, a renowned derivative market tracker, indicating a substantial liquidity accumulation at higher price levels. The recent warning from Crypto Rover comes amidst a period of turbulence in the crypto market, marked by sharp price movements and heightened trading activity. Particularly, Bitcoin experienced a sudden decline over the weekend, bringing its price to as low as $62,000 in the zone. However, in the early hours of Monday, the asset showed signs of recovery, briefly reaching a high of $66,797 before retracing to its current price of $64,711. The market downturn over the weekend witnessed a record number of liquidations, with over $1.2 billion in Bitcoin long positions liquidated in a single day, according to WhaleWire. JUST IN: Over $1.2 Billion in #Bitcoin longs have been liquidated over the last 24 hours, amid market decline, setting a new record. The previous record was $879M. Today, more Bitcoin bulls have been liquidated than on any day in the last 15 years. Another reason why buying up… pic.twitter.com/itnwb7rj1d — WhaleWire (@WhaleWire) April 13, 2024 The liquidation hasn’t stopped, as the latest data from Coinglass reveals that in the past 24 hours alone, 89,151 traders have been liquidated, resulting in a total loss of $266.10 million. Analyst Insights And Market Dynamics It is worth noting that Bitcoin’s recorded slight recovery comes as Hong Kong regulators granted provisional approval for asset managers to launch spot Bitcoin and Ethereum exchange-traded funds (ETFs). Crypto analyst Willy Woo has shared his perspective on the potential impact of Bitcoin exchange-traded funds (ETFs) on market dynamics. According to Woo, introducing the new Bitcoin ETFs could lead to significant price targets, with projections ranging from $91,000 at the bear market bottom to $650,000 at the bull market top. The new #Bitcoin ETFs brings price targets of $91k at the bear market bottom and $650k at the bull market top once ETF investors have fully deployed according to asset manager recommendations***. These are very conservative numbers. #Bitcoin will beat gold cap when ETFs have… — Willy Woo (@woonomic) April 15, 2024 Woo’s analysis underscores the growing institutional interest in BTC, with asset managers expected to allocate a substantial portion of their funds to the cryptocurrency. Related Reading: The Ultra Wealthy Are Investing Big Time In Bitcoin, Barbara Goldstein Reveals However, Woo emphasizes that these projections are conservative estimates, and Bitcoin’s market capitalization could exceed gold as more capital is deployed into the asset. Featured image from Unsplash, Chart from TradingView
Nebraska Man Faces 50 Years for Multi-Million Dollar Cryptojacking Scheme
16 Apr 05:59
United States prosecutors have charged Charles O. Parks III with wire fraud and money laundering after he allegedly ran a “large-scale illegal ‘cryptojacking’ operation,” defrauding two cloud computing providers out of $3.5 million to mine $970,000 in cryptocurrencies such as ether, litecoin, and monero without authorization. Parks, who was arrested in Nebraska and faces up […]
Bitcoin Price Restarts Decline, Can BTC Bulls Protect $60K?
16 Apr 05:06
Bitcoin price started another decline from the $67,000 zone. BTC is showing bearish signs and might soon revisit the $61,000 support zone. Bitcoin failed to clear the $67,000 resistance zone. The price is trading below $65,000 and the 100 hourly Simple moving average. There was a break below a rising channel with support at $64,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend its decline unless it clears the $65,000 resistance zone. Bitcoin Price Recovery Stalls Bitcoin price attempted a recovery wave above the $65,000 resistance zone. BTC even climbed above $66,200, but the bears were active near the $67,000 zone. A high was formed at $66,898 and the price started another decline amid rising tensions between Israel and Iran. There was a move below the $65,000 and $64,000 levels. The price traded below the 50% Fib retracement level of the upward move from the $60,495 swing low to the $66,898 high. There was a break below a rising channel with support at $64,900 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $65,000 and the 100 hourly Simple moving average. The bulls are now protecting the 61.8% Fib retracement level of the upward move from the $60,495 swing low to the $66,898 high at $63,000. Immediate resistance is near the $63,750 level. The first major resistance could be $64,700. The next resistance now sits at $65,000. If there is a clear move above the $65,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $66,800 and the 100 hourly Simple moving average. Source: BTCUSD on TradingView.com The next major resistance is near the $67,200 zone. Any more gains might send Bitcoin toward the $70,000 resistance zone in the near term. More Losses In BTC? If Bitcoin fails to rise above the $65,000 resistance zone, it could start another decline. Immediate support on the downside is near the $63,000 level. The first major support is $62,000. If there is a close below $62,000, the price could start to drop toward the $61,000 level. Any more losses might send the price toward the $60,500 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $63,000, followed by $62,000. Major Resistance Levels – $64,700, $65,000, and $67,000.
OKX Launches Ethereum Layer-2 Network in Challenge to Coinbase's Base
16 Apr 04:01
A layer-2 Ethereum scaling network built by OKX has launched mainnet, paving the way for new users with the Polygon-based AggLayer.
Runes Will Help Bitcoin DeFi ‘Close the Gap’ on Ethereum, Solana: Franklin Templeton
16 Apr 03:10
The investment firm said Runes has the potential to help the broader Bitcoin ecosystem compete against Ethereum and Solana.
Actors, Record Labels Ink Deal Limiting AI Voice Use
16 Apr 02:11
The new agreement builds upon the deal that ended an industry-wide strike, and the union's chief negotiator says more AI rules are coming.
Solana Update Brings First Fixes for Congestion Issues
16 Apr 00:27
After weeks of failed transactions, Solana might be turning a corner with the launch of a first update for mainnet validators.
Bitcoin Miners Battle the AI Boom Ahead of Halving: Bernstein
15 Apr 23:45
A new report from the investment firm highlights increasing competition between two sectors that demand energy and processing power.
Bitcoin BRC-20 Token Prices Plunge Ahead of Halving—Are Runes to Blame?
15 Apr 22:47
Fungible tokens see prices drop heading into a pivotal week for the top crypto network, with ORDI falling over 40% in seven days.
What Is the Bitcoin Halving and Why Should You Care?
15 Apr 22:16
Bitcoin miners aren't the only people paying attention to this week's halving event. Why should you be watching?
Satoshi-Era Bitcoin Worth Millions Just Moved After 14 Years of Inactivity
15 Apr 19:30
A wallet holding a stash of Bitcoin mined in 2010 just moved it for the first time after 14 years. How much has it gained in value?
Bitcoin Miners Could Be Forced Out of Norway With Data Center Law
15 Apr 18:37
Norway’s energy minister thinks Bitcoin miners cause large greenhouse gas emissions, and wants to push them out—but experts disagree on the evidence.
Ethereum Funds Notch Fifth Week of Losses—Will Hong Kong ETFs Snap the Streak?
15 Apr 17:58
Falling spot ETF approval odds and rising geopolitical risks are fueling flight from Ethereum-based funds, now for a fifth straight week.
Adidas Releasing $2,500 Solana NFT Sneakers in Move-to-Earn Game 'Stepn'
15 Apr 17:34
Sportswear giant Adidas has partnered with move-to-earn game Stepn to release some pricey virtual running sneakers as Solana NFTs.
Bitcoin Runes Launch at the Halving: Here's Everything You Need to Know
15 Apr 17:02
The creator of Bitcoin’s Ordinals protocol is debuting a new fungible token standard to rival BRC-20. Here’s everything we know about Runes.
Spot Bitcoin, Ethereum ETFs Approved in Hong Kong
15 Apr 13:30
The news comes just months after the U.S. Securities and Exchange Commission granted approval to multiple spot Bitcoin ETF applications.
Bitcoin Price Bounces Back to $66,000 Following Weekend Crash
15 Apr 12:20
Crypto markets are staging a mini-recovery after simmering geopolitical tensions drove investors towards safe haven assets over the weekend.
Crypto Owners a Growing Force Heading into 2024 Election: Galaxy Digital
14 Apr 19:31
Nearly one out of five voters own crypto, making them a potentially powerful constituency in November.
This Week in Crypto Games: Sui Handheld, Saga Launch, Notcoin Airdrop Nears on 4/20
14 Apr 19:07
The Sui network is getting its own gaming handheld, Saga's mainnet and token launched, and Notcoin reveals more details for its 4/20 rollout.
AI or Human? Music Fans Won’t Care, Says Avenged Sevenfold Frontman
14 Apr 18:41
For musicians, AI is a “deeper tool” that can help stimulate creativity, said Avenged Sevenfold’s Matt Sanders (aka M. Shadows).