Crude oil futures Friday posted a weekly gain as simmering tensions in the Middle East overshadowed stubborn inflation in the U.S. and a murky demand outlook for the year. The West Texas Intermediate contract for March gained $1.16, or 1.49%, to settle at $79.19 a barrel. April Brent futures added 61 cents a barrel to settle at $83.47. […]
The dollar retreated on Friday amid concerns about the strength of the U.S. economy after higher-than-expected producer prices raised expectations that the Federal Reserve will desist from cutting interest rates until at least the middle of the year. The rise in producer prices reported by the Labor Department was the largest in five months and […]
Bitcoin mining difficulty, which measures how difficult it is to solve the complex cryptographic puzzles used in the mining process, passed 80 trillion on Friday, Feb. 16. The network’s hash rate, which measures the total computational power used by miners, reached 562.81 exahashes per second (EH/s), and the mining difficulty hit a record 81.73 trillion, according […]
Bitcoin exchange-traded funds (ETFs) had another strong week, with net inflows surpassing $2.2 billion between Feb. 12 and Feb. 16. According to Bloomberg analyst Eric Balchunas, the combined volume was higher than inflows received by any other among the 3,400 ETFs available in the United States. BlackRock’s fund IBIT received the majority of capital, amassing […]
The stock market mounted a sharp decline of as much as 2% on Tuesday after the January CPI report revealed hotter-than-expected inflation. But the sell-off likely represents another buy-the-dip moment for investors, and a short-term top has not yet occurred, according to a Tuesday note from Fundstrat’s Tom Lee. Lee said the garden variety sell-off […]
In an unexpected turn of events, Elizabeth Warren, the long-time adversary of Bitcoin on Capitol Hill, has seen the orange-tinted light and quite literally raised a flag to praise the work of Bitcoin’s anonymous creator, Satoshi Nakamoto, celebrating 15 years since the network launched. In participation of the Capitol Flag Program, Senator Warren’s office submitted […]
Bitcoin’s price surpassed the $52,000 mark in the past 24 hours, indicating that the market is entering conditions indicative of a pre-halving rally, according to an analyst. “The current market movement aligns with a pre-halving rally, a trend observed in previous bitcoin cycles,” Bitfinex Head of Derivatives Jag Kooner said in an email sent to […]
The S&P 500 closed at a new record high, as all three major indexes ended Thursday’s trading session in positive territory, after clawing back the steep losses suffered earlier in the week. This marks the 11th record high that the 500-stock benchmark has cinched so far this year. The broad stock index climbed 0.58%, settling at 5,029.73, […]
Spot bitcoin ETFs own a combined 692,939 bitcoins, representing 3.5% of all bitcoin currently in existence. The launch of spot bitcoin ETFs last month opened the floodgates for Main Street investors to conveniently purchase bitcoin through their existing brokerage accounts. The iShares Bitcoin Trust has seen the highest inflows, hitting $4.39 billion in assets as […]
Japan stocks led declines in Asia-Pacific markets after hotter-than-expected U.S. inflation data sent Wall Street tumbling overnight. U.S. consumer price index climbed 3.1% on a 12-month basis and 0.3% for the month. Economists polled by Dow Jones expected the CPI to have increased by 0.2% month over month in January and 2.9% on an annual […]
US stocks tumbled on Tuesday, falling from recent highs as investors digested a hotter-than-expected January inflation report that showed prices cooling slower than forecasts anticipated. All three major indices closed down more than 1% on the heels of the report. The Dow Jones Industrial Average (^DJI) fell 1.4%, or around 500 points, while the S&P […]
Bitcoin rose to $50,000 Monday for the first time in two years, fueled by a rush of new-investor enthusiasm and growing anticipation over a cryptic-sounding event known as “the halving.” Bitcoin, the world’s most popular cryptocurrency, dipped back into the high 40s on Tuesday, snapping seven straight days of increases, and it remains far from […]
