ForexLive European FX news wrap: Global tech outage chaos, futures recover after brief dip 0 (0)

Headlines:

Markets:

  • USD leads, NZD lags on the day
  • European equities lower; S&P 500 futures up 0.2%
  • US 10-year yields up 0.6 bps to 4.210%
  • Gold down 1.3% to $2,413.68
  • WTI crude up 0.1% to $80.88
  • Bitcoin flat at $63,979

The session started with a quieter mood initially, before a widespread of tech outages were reported across major networks around the globe. It started with Microsoft saying that it had some issues with its cloud system and that grounded several flights from smaller airlines.

Eventually, the world would soon realise that it was much a bigger problem as banks, media outlets, airlines, and pretty much all services with Microsoft-related systems were all down. Even trading brokerages were affected as we got to the European market open.

Microsoft said it had to do with a CrowdStrike update which was flawed, causing an error in its systems.

In any case, the chaos that ensued saw stocks sell off for bit in Europe before calmer heads prevailed. S&P 500 futures were up 0.2% before falling by 0.4%, then now recovering to be up by 0.2% again. European equities saw red at the open and didn’t really recover too much though, as tech shares are the ones leading the bounce.

The moves there didn’t quite translate to much action in major currencies though. FX was quieter as the dollar is holding steady ahead of the final stretch of the week.

EUR/USD is down 0.1% to 1.0890 while GBP/USD keeps with the rejection of 1.3000 to be down 0.2% to 1.2915 on the day. USD/JPY saw some light pushing and pulling but is now flattish at around 157.40 levels.

Well, as the global IT hiccup looks to have come and gone, the focus turns back towards whether Wall Street will stick to the selloff seen in the last two days to wrap up the week.

This article was written by Justin Low at www.forexlive.com.

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Bitcoin Technical Analysis – Upward Price Trend Breaks Through Key Resistance Levels 0 (0)

Bitcoin (BTC) is showing a notable upward price trend,
fueled by significant exchange outflows and bullish sentiment, with many eyeing
the $72,000 mark as a potential target. This article focuses on the technical
factors driving this trend and explores emerging opportunities in the crypto
market such as the Minotaurus ($MTAUR) presale.

Bitcoin (BTC) on the Brink
of a Major Breakout

Bitcoin (BTC) Market
Position

Rumors suggest that former President Donald Trump may
announce Bitcoin (BTC) as a strategic reserve asset for the United States,
driven by Dennis Porter, a crypto community figure, who claims this will be
revealed in Trump’s speech at the Bitcoin 2024 Conference. If true, this would
mark a historic shift in US monetary policy, positioning Bitcoin as a critical
financial asset and potentially causing significant market movements.

Technical Analysis

Bitcoin (BTC) has broken out of its downtrend and is on an
upward trajectory. Analyst Rekt Capital noted that Bitcoin (BTC) has surpassed
a key trendline on the daily chart, with the price around $64,794.

Experts suggest that if Bitcoin (BTC) flips the $65,000
level into support, it could reach $71,500.

The potential announcement of Bitcoin as a US strategic
reserve asset could propel it to $80,000. Market sentiment is overwhelmingly
positive, with anticipation of a further uptick.

Further Catalysts

The buzz around Bitcoin (BTC) as a potential strategic
reserve asset has captivated analysts and influential figures. Trump advisor
Vivek Ramaswamy advocates for its inclusion in US Treasury reserves to combat
inflation, while David Bailey, CEO of Bitcoin Magazine, envisions the US
securing 210,000 Bitcoin (BTC) for a century. This move could solidify
Bitcoin’s status in global finance and lead to significant price surges if
confirmed.

As the market awaits Trump’s announcement, sentiment
remains highly optimistic, with potential for new all-time highs.

Minotaurus ($MTAUR): A
Blockchain Gaming Project in Presale

While Bitcoin (BTC) prospects might seem compelling,
diversifying portfolios could be a savvy move for crypto enthusiasts. Minotaurus
($MTAUR)
seems to be a project that can benefit from either Bitcoin
(BTC) scenario. If it grows, this coin seems ready to follow suit, but if
Bitcoin (BTC) stalls, there’s still enough value in it.

Let’s explain it a bit: it’s a blockchain gaming project
currently in presale. At the time of writing, $MTAUR tokens are priced at just
$0.0000452, which is 77.5% lower than the expected listing price of
$0.00020.

A Closer Look at
Minotaurus ($MTAUR)

Minotaurus ($MTAUR) offers an engaging gaming experience
where players navigate mazes, defeat monsters, and complete challenging levels.
$MTAUR, the project’s native token, has solid utility within the game. By
converting $MTAUR tokens into in-game currency, users can customize their
characters, unlock special features, and enjoy hours of fun directly from
mobile devices.

More on Minotaurus
($MTAUR) Appeal

The project’s appeal extends beyond an affordable entry.
$MTAUR holders can get bonuses for extending vesting periods and referring
friends to join the Minotaurus
community
.

Minotaurus ($MTAUR) is committed to providing a secure and
transparent environment for its members. The project has been audited by
SolidProof and Coinsult, ensuring the highest standards of safety.

With balanced tokenomics and a strong development team,
Minotaurus ($MTAUR) could make a significant impact in the growing casual
gaming market, which is valued at approximately $14.78 billion and expanding
steadily as per Statista.

The presale token supply is finite. For those who want to
join Minotaurus ($MTAUR) at the ground level, it makes sense to take action
now.

More
Details on the Official Website

This article was written by FL Contributors at www.forexlive.com.

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