Billionaire Paul Tudor Jones picks Bitcoin over stocks
Paul Tudor Jones expects a recession in the first quarter of 2024. He also expects the Israel-Palestine war to make stocks less attractive. Bitcoin has a history of doing well in the midst of political uncertainty. Bitcoin is still down 13% versus its year-to-date high but Paul Tudor Jones remains bullish as ever on the […]
Bitcoin holds steady as DXY advance hurts stocks
Bitcoin rose to $26,820 on Wednesday, trading in the opposite direction to stocks as the Dollar Index hit a 10-month high. An easing for the DXY could see Bitcoin price strengthen above the $26k base. Bitcoin (BTC) defied a surge for the Dollar Index (DXY) on Wednesday, spiking to above $26,820 in early US trading […]
Bitcoin mining stocks are far riskier than Bitcoin itself
Key Takeaways Bitcoin mining stocks have underperformed Bitcoin heavily over the last year Greater competition among miners and higher amounts of energy required means margins are thinner Rising electricity costs and lower value of Bitcoin have also hurt miners immensely Greater number of variables beyond merely the price of Bitcoin means mining stocks have been […]
Bitcoin correlation with stocks at 5-year low as regulatory crackdown takes toll
Key Takeaways Our Head of Research, Dan Ashmore, digs into Bitcoin’s relationship with stocks Correlation between Bitcoin and the Nasdaq is at its lowest point since 2018 The Nasdaq is up 10% in the last month as stocks have surged off softer forecasts around interest rates and the macro climate Bitcoin is down 9% in […]
Report: Bitcoin mining stocks – extreme volatility and underperforming Bitcoin
Key Takeaways Bitcoin mining stocks have traded with significantly more volatility than Bitcoin itself Mining stocks have underperformed, as rising energy costs and increased competition has cut into profits Miners also overleveraged during the pandemic, purchasing new equipment with debt and holding onto Bitcoin stashes as prices fell Fees on the network rose with the […]
Bitcoin, Ether prices up as stocks tank on new bank fears
Bitcoin (BTC) and Ethereum (ETH) prices rose nearly 2% respectively as stocks plunged. The S&P 500 was down 1.5% as two bank stocks plummeted. BTC and ETH gains saw altcoins in the top 10 cryptocurrencies by market cap up. Bitcoin (BTC) price moved above $28,500 again on Tuesday, rising more than 2% in early morning […]
Bitcoin correlation with stocks rises again, normal service resumed
Key Takeaways Bitcoin had deviated slightly from stocks over the last couple of weeks Correlation has bounced back since Tech-heavy Nasdaq continues to trade in lockstep with Bitcoin as investors in both asset classes look to shifting expectations around interest rates It’s been an odd few weeks in the market. The banking wobbles over the […]
Bitcoin, stocks eye recovery after ECB news jolts markets
Bitcoin retested the $25,000 area, while S&P 500 had gained about 1% after plunging on ECB interest rate hike news. The ECB on Thursday surprised with a 50 basis point rate hike. Reports that JPMorgan and Morgan Stanley are looking to help First Republic Bank buoyed stocks. Bitcoin and stocks have recovered slightly after trading […]
Bitcoin touches $23k support as stocks fall on hot PCE data
Bitcoin and crypto prices fell as markets reacted to January PCE data. The Fed’s favourite inflation measure came in hot, jolting markets lower with S&P 500 declining nearly 1.4% and Dow dropping about 400 points. Crypto analyst Rekt Capital says BTC price remains in positive territory as long as bulls hold support above $23k. Bitcoin […]
Bitcoin, stocks swing as markets react to CPI data
Bitcoin price was trading sideways after hitting highs of $22,300, with major US indexes also down. The markets’ reaction comes after hotter-than-expected inflation data for the first month of 2023. US CPI rose 0.5% over the month and 6.5% year-over-year. Bitcoin was holding just above $22,000 at around 11:00 am ET, with the flagship cryptocurrency […]