Posts

Cryptocurrency Market Fluctuates: Fear and Greed Index Drops to Fear Level

Image
The cryptocurrency market has witnessed a notable shift in investor sentiment, with the Crypto Fear and Greed Index retracting to a level of 43, the lowest since the previous October. This decline marks a substantial move from a state of greed to one dominated by fear, suggesting an increase in investor anxiety and a bearish outlook prevailing within the market. Traditionally, a score between 26 and 46 on this index indicates that fear is likely influencing market dynamics, possibly leading to more conservative investor behavior. This shift comes amid a drastic downturn in Bitcoin prices, which has significantly affected the mood among cryptocurrency traders. Only last week, the market sentiment was categorized within the greed zone, highlighting how rapidly investor emotions have changed in response to market conditions. Adding Read more about Cryptocurrency Market Fluctuates: Fear and Greed Index Drops to Fear Level #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewsto
Post a Comment
Read more

Upcoming economic events 3 May 2024

Image
Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious01:302 pointsHome Loans (MoM)1.0%1.6%09:002 pointsUnemployment Rate (Mar)6.5%6.5%12:302 pointsAverage Hourly Earnings (YoY) (YoY) (Apr)4.0%4.1%12:302 pointsAverage Hourly Earnings (MoM) (Apr)0.3%0.3%12:302 pointsNonfarm Payrolls (Apr)243K303K12:302 pointsParticipation Rate (Apr)---------62.7%12:302 pointsPrivate Nonfarm Payrolls (Apr)180K232K12:302 pointsU6 Unemployment Rate (Apr)---------7.3%12:302 pointsUnemployment Rate (Apr)3.8%3.8%13:452 pointsS&P Global Composite PMI (Apr)50.952.113:452 pointsS&P Global Services PMI (Apr)50.951.714:002 pointsISM Non-Manufacturing Employment (Apr)---------48.514:002 pointsISM Non-Manufacturing PMI (Apr)52.051.414:002 pointsISM Non-Manufacturing Prices (Apr)---------53.417:002 pointsU.S. Baker Hughes Oil Rig Count---------50617:002 Read more about Upcoming economic events 3 May 2024 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS
Post a Comment
Read more

Tether Achieves Record $4.5 Billion Profit in Q1 2024 Amid Surging Treasury Holdings

Image
Tether, the issuer of the prominent USDT stablecoin, has reported a record-breaking net profit of $4.5 billion for the first quarter of 2024. This financial milestone was confirmed by a BDO assurance opinion, which also highlighted that Tether’s holdings in Treasury bills have surged to over $90 billion. The firm's total net equity has concurrently exceeded $11.3 billion, fueled by its diversified operations. The attestation further reveals that since the final quarter of the previous year, Tether's ownership of U.S. Treasuries and net equity have experienced substantial growth, climbing from approximately $80 billion and $7 billion, respectively. Of the $4.5 billion in net profits reported this quarter, $1 billion originated from operations associated with issuing stablecoins and managing reserves. Primarily, these profits were g Read more about Tether Achieves Record $4.5 Billion Profit in Q1 2024 Amid Surging Treasury Holdings #Blockchain, #Cryptocurrency, #Cryptomarket, #Cr
Post a Comment
Read more

Upcoming economic events 2 May 2024

Image
Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious01:302 pointsBuilding Approvals (MoM) (Mar)3.5%-1.9%01:302 pointsTrade Balance7.190B7.280B08:002 pointsHCOB Eurozone Manufacturing PMI (Apr)45.646.112:302 pointsContinuing Jobless Claims1,800K1,781K12:302 pointsExports---------263.00B12:302 pointsImports---------331.90B12:303 pointsInitial Jobless Claims212K207K12:302 pointsNonfarm Productivity (QoQ) (Q1)0.8%3.2%12:302 pointsTrade Balance (Mar)-69.50B-68.90B12:302 pointsUnit Labor Costs (QoQ) (Q1)3.6%0.4%14:002 pointsFactory Orders (MoM) (Mar)1.6%1.4%20:152 pointsECB's Lane Speaks  ------------------20:302 pointsFed's Balance Sheet---------7,402B Read more about Upcoming economic events 2 May 2024 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS
Post a Comment
Read more

Changpeng Zhao, Binance Founder, Receives Four-Month Prison Term

Image
In a recent judicial decision, Changpeng Zhao, the founder of Binance, the largest cryptocurrency exchange globally, was sentenced to a four-month prison term. The sentencing, which took place on April 30, marked a significant chapter in the legal scrutiny surrounding the cryptocurrency magnate. During the proceedings, federal prosecutors from the Department of Justice (DOJ) advocated for a three-year incarceration. In contrast, Zhao's defense argued against any prison time. However, Judge Richard Jones ruled in favor of a substantially reduced sentence, diverging significantly from the DOJ's recommendation. He highlighted the absence of clear evidence that Zhao was directly informed of the specific unlawful activities purportedly taking place on his platform. Judge Jones also acknowledged the comprehensive report submitted by Read more about Changpeng Zhao, Binance Founder, Receives Four-Month Prison Term #Binance, #Bitcoin, #ChangpengZhao, #Cryptocurrency, #Cryptomarket, #Cry
Post a Comment
Read more

Upcoming economic events 1 May 2024

Image
Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious12:152 pointsADP Nonfarm Employment Change (Apr)179K184K13:452 pointsS&P Global US Manufacturing PMI (Apr)49.951.914:002 pointsConstruction Spending (MoM) (Mar)0.3%-0.3%14:002 pointsISM Manufacturing Employment (Apr)---------47.414:003 pointsISM Manufacturing PMI (Apr)50.050.314:003 pointsISM Manufacturing Prices (Apr)55.555.814:003 pointsJOLTs Job Openings (Mar)8.680M8.756M14:303 pointsCrude Oil Inventories----------6.368M14:302 pointsCushing Crude Oil Inventories----------0.659M18:003 pointsFOMC Statement------------------18:003 pointsFed Interest Rate Decision5.50%5.50%18:303 pointsFOMC Press Conference------------------23:502 pointsMonetary Policy Meeting Minutes------------------ Read more about Upcoming economic events 1 May 2024 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS
Post a Comment
Read more

BlackRock's Bitcoin ETF Sees No New Investments for Fourth Day in a Row

Image
Investor sentiment in digital asset investment products remained tepid last week, as evidenced by the continued outflows from spot Bitcoin ETFs on April 29. According to data from SoSoValue, 11 U.S. spot Bitcoin ETFs collectively registered $51.53 million in outflows on that single day. In a notable shift within the sector, Grayscale’s GBTC, which typically leads this market, saw significant withdrawals. Investors pulled $24.66 million from GBTC, while ARK 21Shares’ BTC ETF experienced even larger outflows, totaling $31.34 million. Additionally, Fidelity’s spot Bitcoin ETF reported outflows of $6.85 million. Among the ETF issuers, five, including BlackRock’s IBIT fund, did not record any new inflows. Despite this, BlackRock has recently overtaken Grayscale as the foremost spot BTC ETF provider, trailing GBTC's market presence by a Read more about BlackRock's Bitcoin ETF Sees No New Investments for Fourth Day in a Row #Bitcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #
Post a Comment
Read more

Hong Kong Set to Outpace US in First-Day Trading Volume with New Bitcoin, Ethereum ETFs

Image
Hong Kong is poised to redefine the landscape of cryptocurrency investments with the launch of innovative Bitcoin and Ethereum exchange-traded funds (ETFs). These ETFs are scheduled to commence trading tomorrow at 9:30 a.m. EDT, and are expected to attract a first-day trading volume that surpasses that witnessed in the United States. Zhu Haokang, the head of digital asset management and family wealth at Huaxia, expressed his confidence in the potential of these ETFs. "We anticipate that the trading volume of Hong Kong's virtual asset spot ETFs on their inaugural day will exceed that of their US counterparts," Zhu noted. Earlier this year, the United States recorded a first-day trading volume of $125 million across various Bitcoin spot ETF issuers—a benchmark that Hong Kong aims to surpass. The new ETFs in Hong Kong distinguish t Read more about Hong Kong Set to Outpace US in First-Day Trading Volume with New Bitcoin, Ethereum ETFs #BTCETF, #Cryptocurrency, #Cryptomarket,
Post a Comment
Read more