Archiv für den Monat: November 2022
Palantir stock falls after slight earnings miss
AUD/USD awaits clearer direction after recent consolidation
This article was written by Justin Low at forexlive.com.
Crypto market stumbles, losing 5%
Market picture</p><p>
The
crypto market has lost over 5% in the last 24 hours, pushing capitalisation
back below $1 trillion. The steep fall in FTT affected Bitcoin and Ether and has
pulled a significant market spectrum.
Bitcoin is now trading at $19.8K, with the most substantial losses coming in
the Asian session, filled with algorithmic traders, pushing the price back to
$19.4K at one point. It is noteworthy that a sell-off did not follow the
sell-off in the first and second cryptocurrencies in the markets. </p><p>Once again,
we are forced to guess whether crypto reflects the internal risk attitude of
the financial markets or whether we have seen a short-term technical sell-off.
In the former case, market sentiment will worsen during the day. In the second,
BTCUSD will redeem during the day and further confirm the market’s reversal to
growth. </p><p class=“MsoNormal“>
According to CoinShares, investments in crypto funds declined last week after a
slight increase the previous week. Outflows amounted to $16m compared to
inflows of $6m a week earlier. Bitcoin investments fell by $13 million, and
Ethereum rose by $3 million. Investments in funds that allow shorts on bitcoin
fell by $7 million. Investors have shown a lack of enthusiasm over the past eight
weeks, CoinShares noted.
</p><p>News background</p><p>
Former
MicroStrategy head Michael Saylor called bitcoin a „hope“ for
Lebanon, whose national currency has fallen 96% against the dollar, and
inflation has reached triple digits. The Middle Eastern country has been in a
deep financial crisis since 2019.
</p><p>Twitter’s new owner, Elon Musk, plans to postpone temporarily or entirely shut
down the development of some of the projects announced by the previous
administration, including, reportedly, work on a cryptocurrency wallet. The
news has hurt Dogecoin, which has been growing in hopes of becoming the social
network’s digital currency.</p><p>
According to Reuters, UK bank Santander will block transactions on
cryptocurrency exchanges in 2023 to protect consumers from fraud.</p><p class=“MsoNormal“>
Mining companies are being forced to sell off cryptocurrency mining equipment
at a massive discount to cover losses from a falling market, The Wall Street
Journal reported.
</p><p>This article was written by <a target=“_blank“ href=“https://www.fxpro.com/“ target=“_blank“>FxPro</a>’s Senior Market Analyst Alex
Kuptsikevich.</p>
This article was written by FxPro FXPro at forexlive.com.
USD/JPY stays lockstep with the bond market
This article was written by Justin Low at forexlive.com.
US October NFIB small business optimism index 91.3 vs 92.1 prior
This article was written by Justin Low at forexlive.com.
GBP/USD still caught in no man’s land
This article was written by Justin Low at forexlive.com.