Author: cryptorecaps.com
In a dramatic turn of events following a tumultuous week for the cryptocurrency market, Bitcoin (BTC) has managed to claw its way back above the $60,000 threshold after briefly plunging near $57,000. This resurgence comes amid cautious optimism as a key metric suggests a potential rebound in the near term. As of the latest data from CoinMarketCap, Bitcoin is currently trading at $60,128, marking a 2.29% increase over the past 24 hours. The recovery follows a period of intense volatility that saw the world’s largest cryptocurrency experiencing a sharp correction earlier in the week. CryptoQuant, a leading on-chain analytics platform, recently…
Investing Expert: These Giant Companies Are Buying Bitcoin https://www.youtube.com/watch?v=-Qe8myi0ma4
Money is Broken!! The Truth About Our Financial System! https://www.youtube.com/watch?v=TpMBLdKPpT4
Piper Sandler strategists said Tuesday that higher unemployment rates (UR) could be a bullish sign for the markets as it would likely bring down inflation and interest rates, making risk assets more appealing for investors. “Seeing a higher UR and lower rates would be bullish in our view as higher rates are everybody’s #1 fear,” strategists said in a note. Historically, this has also been the case, strategists stressed, and has been observed in five recessions since 1960 where a peak in interest rates coincided with the bottoming out of stock prices. While the perception of how stocks respond to…
Advanced Micro Devices (NASDAQ:AMD) saw its shares plunge 5.5% in premarket trading Wednesday after the chipmaking giant posted in-line earnings per share (EPS) for the fiscal Q1 2024. Specifically, the company posted EPS of $0.62, meeting analyst estimates. Revenue for the quarter reached $5.5 billion, slightly surpassing the consensus estimate of $5.48 billion. The non-GAAP gross margin for the quarter increased by 2 percentage points year-over-year to 52%. “We delivered strong first quarter results with our Data Center and Client segments each growing more than 80% year-over-year driven by the ramp of MI300 AI accelerator shipments and the adoption of…
Investing.com — Amazon posted first-quarter results that topped Wall Street estimates as better-than-expected performance in its cloud business underscored renewed cloud demand from the artificial intelligence boom. Amazon (NASDAQ:AMZN) rose 2% in premarket trading Wednesday following the report. Amazon reported Q2 EPS of $0.98 on revenue of $143.31 billion, beating estimates of $0.84 on revenue of $142.65B. Amazon Web Services, its cloud revenue segment, grew 17% to $25B, topping consensus estimates of $14.7% growth, with the division’s annual revenue run rate now at a $100B. “The combination of companies renewing their infrastructure modernization efforts and the appeal of AWS’s AI…
AMD (NASDAQ:AMD) reported its latest quarterly earnings after the close Tuesday, with profit in line with consensus expectations and revenue topping estimates. AMD posted Q1 EPS of $0.62, while revenue for the quarter came in at $5.5 billion versus the consensus estimate of $5.48 billion. Furthermore, the company sees Q2 2024 revenue of $5.4-6 billion, versus the consensus of $5.7 billion, while for the second quarter of 2024, AMD expects revenue to be approximately $5.7 billion, plus or minus $300 million. At the mid-point of the revenue range, this represents year-over-year growth of approximately 6% and sequential growth of approximately…
Bitcoin price fluctuations have left crypto investors wondering if this rollercoaster is a preview of post-halving volatility, or just a temporary correction that warrants fresh buying opportunities. Bitcoin is now down by more than 20% from the all-time high it reached in mid-March above $73,000. BTC Chart Moreover, the world’s largest digital coin and the broader crypto market in April snapped a seven-month winning streak with their sharpest monthly decline since November 2022, which was when the crypto exchange FTX collapsed. Why Bitcoin prices are falling April has proven to be a challenging month for Bitcoin. Moreover, the broader financial markets…
The Manhattan man allegedly spent $1.7 million of investors’ money on gambling debts, $400,000 on Art Direct, and his kids’ private school tuition. The FBI arrested a Manhattan man, Idin Dalpour, yesterday morning for allegedly orchestrating a $43 million Ponzi scheme involving a fictitious Las Vegas hospitality business and a cryptocurrency trading operation. “For four years, Idin Dalpour allegedly used false promises of high returns to entice victims to invest in his purported hospitality and cryptocurrency trading enterprises, but in reality, used these payments to satisfy other debts or personal expenditures,” FBI Assistant Director in Charge James Smith said in…
Bitcoin Hasn’t Hit the Bottom Yet, Says Standard Chartered. The biggest digital coin still has room to fall, the British firm said in a new report. Standard Chartered predicts that Bitcoin could fall as low as $50,000 due to a deteriorating macro backdrop and the cryptocurrency’s break below $60,000. The Federal Reserve’s indication of higher interest rates has scared investors away from “risk-on” assets like Bitcoin, leading to significant outflows from Bitcoin funds. Despite reaching a new record in March, the price of Bitcoin currently stands at $56,900, a 13% drop in seven days. If you think the recent dips…