Tech stocks face trillion-dollar losses as bond yields soar, but their $596 billion cash positions favor alternative hedges, including Bitcoin. The mega-cap tech stocks, which saw a robust start in 2023, are now grappling with massive trillion-dollar losses, leaving their shareholders concerned. Wall Street’s unease over surging bond yields and higher interest rates has cast…
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On Monday, S&P Global Ratings slashed ratings for five U.S. regional banks, pointing to the strenuous operating atmosphere plaguing the sector since the year’s outset. The impacted banks include Associated Banc Corp., Comerica Inc., KeyCorp, UMB Financial Corp., and Valley National Bancorp. Simultaneously, the outlook for two others has been dimmed to negative. Turbulent Waters:…
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Traders believe that Bitcoin’s low volatility is a bull market signal, but their bias could be preventing them from acknowledging potentially negative macro outcomes. The latest report from Glassnode Insights, titled “The Week On-Chain,” emphasizes that Bitcoin has reached historically low levels of volatility. This has led to a mere 2.9% separation between the asset’s Bollinger…
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U.S. stock markets hit year-to-date highs, the Fed paused rate hikes, and Binance.US and the SEC reached an agreement, but data shows Bitcoin bulls remain somewhat skittish. After a momentary retest of the $25,000 support on June 15, Bitcoin gained 6.5% as bulls successfully defended the $26,300 level. Despite this, the general sentiment remains slightly bearish…
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China’s oldest credit rating agency, Chengxin International Credit Rating (CCXI), made headlines this week by downgrading the United States’ credit rating. The agency lowered the rating from AAAg to AAg+ and attributed this decision to the escalating political discord, rising inflation, and the ongoing impasse over the debt ceiling. U.S. Credit Rating Suffers Downgrade by…
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On March 10, 2023, market observers are discussing the troubles Silicon Valley Bank (SVB) faces, as the firm’s stock slid more than 60% in the last 24 hours. SVB was forced to sell a $21 billion bond portfolio at a $1.8 billion loss. CEO Greg Becker insists that the financial institution “will be well positioned”…
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U.S. tech giants are set to report their second quarter earnings throughout October, presenting a scenario that could possibly benefit Bitcoin. Some of the biggest companies in the world are expected to report their 2Q earnings in October, including electric automaker Tesla on Oct. 18, tech giants Meta and Microsoft on Oct. 24, Apple and…
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BTC bulls were liquidated in last week’s drop to $20,800, meaning even more downside could occur if this level fails ahead of this week’s $1 billion options expiry. Bitcoin (BTC) experienced a 16.5% correction between Aug. 15 and Aug. 19 as it tested the $20,800 support. While the drop is startling, in reality, a $4,050…
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Coinbase Global sees its credit rating downgraded by S&P Global amid regulatory pressures, weakened market performance and competitors. Major American cryptocurrency exchange Coinbase saw its long-term issuer credit rating downgraded from BB+ to BB status by rating agency S&P Global following its latest earnings report this year. The agency confirmed the downgrade in a note…
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Bitcoin has reclaimed the $40,000 mark in the last hour, following indications of progress in discussions between and Ukraine amid the ongoing conflict. Russian President Vladimir Putin stated that “positive movement” was being made in the negotiations on a “daily basis.” Russia is facing penalties from Western countries, among others, as world leaders criticize the…
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