Category Archive: Cryptocurrency, No picture
Bitcoin kicks off ‘Uptober’ eyeing 22.9% historical gains
Key Takeaways Bitcoin’s historical October performance, known as ‘Uptober,’ is jeopardized by high futures interest and reduced spot buying. Despite potential market overheating, a 5% to 10% pullback could maintain Bitcoin’s uptrend. Share this article As October begins, the crypto market enters “Uptober,” a period historically associated with strong Bitcoin performance. Over the past nine […]
Circle partners with Mark Carnegie to bring USDC to Australia
Key Takeaways Circle’s partnership with Mark Carnegie aims to extend USDC’s reach in the Asia Pacific. The collaboration may lead to the creation of an Australian dollar stablecoin. Share this article Circle has announced plans to bring its USDC stablecoin to Australia through a partnership with venture capitalist Mark Carnegie’s MHC Digital Group, signaling an […]
EigenLayer EIGEN token now tradable as restrictions end, debuts with $7B FDV
Key Takeaways EIGEN token is now freely tradable following the lift of transfer restrictions. The token’s current market valuation stands at $7.1 billion. Share this article EigenLayer, the Ethereum-based restaking protocol, has officially removed transfer restrictions on its native EIGEN token, allowing holders to move and trade their assets freely. The token became transferable at […]
Elliott Wave Technical Analysis: Bitcoin Crypto Price News For Tuesday, Oct 1
Image Source: UnsplashElliott Wave Analysis TradingLounge Daily ChartBitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: Double Correctiveposition: Wave ((Y))Direction Next higher Degrees: wave IVWave Cancel invalid level: Details: The decline of wave IV is likely to end and the price is re-entering the uptrend.Bitcoin/ U.S. dollar(BTCUSD)Trading Strategy: It looks like the wave IV correction is complete and […]
WTI Remains Sluggish Near $68.00 As OPEC+ Plans To Increase Output In December
Image Source: Unsplash WTI Oil prices receive downward pressure as OPEC+ is likely to increase output by 180,000 barrels per day in December. The US has purchased 6 million barrels of oil for the Strategic Petroleum Reserve, with delivery scheduled through May 2025. Israel has declared a “limited” ground operation aimed at Hezbollah positions in the […]
Metaplanet doubles down on Bitcoin, acquires additional ¥1 billion worth of BTC
Key Takeaways Metaplanet just purchased ¥1 billion in Bitcoin. The firm continues to view Bitcoin as a strategic asset despite market downturns. Share this article Tokyo-listed investment firm Metaplanet announced Tuesday it acquired an additional 107.913 Bitcoin, valued at ¥1 billion (approximately $7 million). *Metaplanet purchases additional 107.91 $BTC* pic.twitter.com/pPrRBGrJsC — Metaplanet Inc. (@Metaplanet_JP) October […]
Nasdaq 100 & S&P 500 Elliott Wave Update – Monday, Sept 30
Image Source: UnsplashI believe it will take additional time before we know and can chart the outcome from today’s end of quarter expirations and rolls. JPM completed rolling the larger “collar” out to the December 31st expiration. So, far, it appears that the action itself released some volatility and a lot of gamma with the market […]
BCYC: A Promising Play In The Biotech Sector
Image Source: PexelsThe long-awaited and overdue half-point cut in the federal funds rate was the impetus for the SPDR Biotech ETF (XBI) to finally break above the 102-103 level after three or four attempts. Meanwhile, Bicycle Therapeutics Plc (BCYC) had a strong ESMO following promising new data for BT8009, BT5528, and BT7480.Rising interest rates hurt biotechs – and vice versa […]
The Canadian Cannabis Report- Monday, Sept. 30
Image Source: PixabayFor the trading week ended September 27, 2024, my proprietary Canadian Cannabis Company Index MCCCI increased by 1.1%. The index consists of 14 stocks, many of which are among the most widely held holdings of the 3 ETFs (MJ, CNBS, and THCX) that I consider to be a reliable barometer of the Canadian cannabis […]
BlackRock sees potential in spot Ethereum ETF, despite slower uptake compared to Bitcoin
Key Takeaways ETHA reached $1 billion in AUM but has not seen explosive growth compared to IBIT. BlackRock’s Bitcoin ETF quickly reached $2 billion in AUM, outpacing ETHA. Share this article BlackRock’s spot Ethereum ETF, also known as ETHA, has seen slower growth than its Bitcoin counterpart but Robert Mitchnick, the company’s head of digital […]
