Tag: traders
The Wall Street Journal: Bank of America, Citigroup, Goldman Sachs and other banks near $1 billion settlement over traders’ use of banned messaging apps
Many of Wall Street’s biggest banks are nearing agreements to pay as much as $200 million each and admit that their employees’ use of personal messaging apps such as WhatsApp violated regulatory requirements, according to people familiar with the matter.
: Weber stock enjoys best day ever as traders bet on it being the next meme stock
Weber Inc. shares enjoyed their biggest daily bounce ever Thursday, on record volume, as investors seemed to bet on the grill maker becoming the next meme stock.
Bitcoin traders still favor new $20K lows as Ethereum hits $2K
It is high time for a deeper retracement on the “relief” rally in Bitcoin, say commentators, but upside targets of $28,000 stay on the table.
Chainlink [LINK] traders can leverage this pattern’s break profitably
After observing an inverse head and shoulder breakout in May, the bears have constricted buying rallies in the $9.29 region for nearly three months. While the price kept traversing below the four-month trendline support (previous resistance), the sellers kept finding fresher multi-monthly lows until mid-June. The past month, however, signified a solid buying comeback as […]
Ethereum: Should ETH traders take long bets with tentative Merge date
Ethereum’s transition into a proof-of-stake consensus mechanism continues to be at the forefront of discussions within the blockchain ecosystem. On 11 August, core developers on the network, on a consensus layer call, suggested possible dates for the Ethereum Merge. Before the eventual Merge into a proof-of-stake network, the blockchain has to complete two upgrades called […]
Long-Term Holders And Derivative Market Traders See Opportunity With The Current Bitcoin Price
Bitcoin trading above the 50-day simple moving average is a bullish indicator for the bitcoin price and many long-term holders are taking note.
Solana [SOL] traders can see barriers in $47-$50 range if…
Over the last few weeks, Solana’s [SOL] patterned breakout crystallized into a symmetrical triangle after retesting the upper trendline of the down-channel. The close above the 20 EMA (red) and the 50 EMA (cyan) has hinted at an increasing buying edge. But the alt was yet to find a volatile break to confirm a change […]
Monero gets Binance backing, but should XMR traders go long
Monero [XMR] performed impressively over the last 24 hours with a 6.28% uptick. On the previous day (10 August), the XMR price was $159 as per CoinMarketCap. At press time, it was trading at $168.16, drawing attention and possibly on its way to another solid performance like it did in July. Before now, Monero had […]
Money On The Sidelines: Crypto Traders Accumulate Highest Buying Power In Two Years
The crypto market has been trading in the green over today’s session as it sees some relief from macro-economic factors. Today, the U.S. published July’s Consumer Price Index (CPI) print which hinted at a slowdown in inflation and allow Bitcoin, Ethereum, and others to experience some relief. Related Reading: Ethereum Open Interest Nears All-Time Highs Ahead Of Merge CPI has been a key metric over the past months as the U.S. Federal Reserve (Fed) attempts to mitigate it by hiking interest rates and reducing its balance sheet. Thus, global markets have seen less liquidity which has negatively impacted risk-on assets, such as equities and cryptocurrencies. At the time of writing, Bitcoin (BTC) trades at $23,900 with a 4% profit in the last 24 hours while Ethereum (ETH) trades at $1,800 with a 9% profit over the same period. The second crypto continues to outperform BTC as investors seem to be migrating into the altcoin sector. July’s CPI print see a decline on the back of commodities trending downwards, particularly the energy sector saw falling prices. However, Rick Rieder, CIO at investment firm BlackRock, believes inflation it’s “still running at a worryingly high rate”. This might continue to operate as a headwind for digital assets and risk-on assets over the long run but might allowed the Fed to be less aggressive with their monetary policy. Rieder said the following on the potential long-term bullish effect of less inflation: Over time, we think the slowdown in economic growth, the continuation of the Federal Reserve’s assertive Hiking Cycle and the possibility of resolution with several persistent supply chain issues should influence broad inflation lower. Rieder claims inflation might continue to trend lower or moderate in the coming months. This might remove uncertainty across the crypto market and provide these assets with enough support to reclaim previous highs. Bitcoin And Crypto Could Extend Bullish Momentum? The biggest headwinds for crypto will be the Fed’s Federal Open Market Committee (FOMC), BlackRock’s CIO said. At that time, the financial institution might announce another “substantial” interest rate hike, but there’s “still a lot more data to come between now and the meeting”. In this environment, data from crypto research firm Santiment records a spike in the supply of Tether (USDT) on exchange platforms. This hints at the potential buying pressure from market participants waiting for more clarity around macro-economic factors. Related Reading: Monero Faces Pressure In Keeping Upward Pace – Will XMR Overcome Resistance? The recent CPI print might provide that clarity, at the time of writing, USDT’s supply on exchanges stands at 42% for the first time since April 2022. At that time, the market was about to enter a massive bull run into new all-time highs.