Tag: High

Microsoft Beats Q1 2024 Revenue Expectations with High Demand for Cloud Services

According to the earnings report, Microsoft’s commitment to AI-driven solutions yielded remarkable results, with the Azure OpenAI Service witnessing a significant rise in its customer base. Microsoft Corp (NASDAQ: MSFT) performance in the fiscal Q1 2024 surpassed projections, triggering a significant surge of 6% in the company’s stock during the extended trading session on October 24. The company’s recent revenue report and quarterly revenue guidance released on Tuesday exceeded market expectations. Earnings per share for the quarter amounted to $2.99, outperforming the expected $2.65. Moreover, the company’s total revenue reached…

Crypto market sentiment at highest point since BTC’s $69K all-time high

Bitcoin (BTC) market sentiment has returned to levels not seen since its price reached $69,000 in mid-November 2021, according to the Crypto Fear & Greed Index. The index is now at 72 out of a total possible score of 100, placing it within the “greed” ranking — a six-point increase from Oct. 24 and a 16-point bounce from its 50-point “neutral” rank on Oct. 18. The strengthening market sentiment follows a wave of excitement that BlackRock’s spot Bitcoin exchange-traded fund (ETF) could be inching toward approval by the United States…

FT fork halts citing ‘high costs’, users note $336K in teams’ multisig

An Arbitrum-based Friend.tech clone has decided to slam the brakes ahead of its promised airdrop due to unsustainable operational costs, leaving users befuddled while noting the team’s healthy multisig wallet.  Pseudonymous Cipher Fan creator, Zatis, announced the projects shut down on Oct. 24 just hours before its CIPHER token airdrop was set to launch as a reward to active users. The would-be socialfi contender debuted roughly two weeks earlier. Zatis said the Cipher Fan’s business model is non-profitable and the app is rife with bot activity rather than real users. …

BTC Drive by Institutions Sends Open Interest on Chicago Mercantile Exchange to Record High

The breakout above the $31,800 resistance level coincided with a drop in open interest, a metric that assesses the notional value of all derivatives positions, across crypto exchanges, according to Coinalyze data. The decline, which reflects retail investor interest, contrasts with open interest on the Chicago Mercantile Exchange (CME), a venue favored by institutions, topping 100,000 bitcoin ($3.4 billion) for the first time. Source

Crypto traders urge caution as Bitcoin price hits 3-month high near $31K

Bitcoin (BTC) hit new three-month highs on Oct. 23 as the week’s first Asia trading session produced snap gains. BTC/USD 1-hour chart. Source: TradingView Bitcoin bulls face crunch BTC price resistance Data from Cointelegraph Markets Pro and TradingView showed BTC price adding momentum to reach $30,944 on Bitstamp. The largest cryptocurrency saw its first weekly close above $30,000 since the summer, going on to tackle levels closer to key long-term resistance. This included the 2023 high, currently at $31,800. “Bitcoin is back at key resistance for the third time in…

BTC price hits 2-month high amid bet Bitcoin will break $32K ‘soon’

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Bitcoin (BTC) tapped $30,000 into the Oct. 20 Wall Street open as analysts directed attention to the weekly close. BTC/USD 1-hour chart. Source: TradingView BTC price sets up weekly close showdown Data from Cointelegraph Markets Pro and TradingView captured new two-month BTC price highs of $30,233 on Bitstamp. The pair showed continued strength during the Asia trading session, with a slight comedown taking place at the time of writing, taking spot price back below $29,500. With volatility still evident, market participants argued that a weekly candle close was needed in…

Binance Q3 report appraises crypto market as ‘challenging’ amid high interest rates

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It’s been a challenging quarter for crypto, Binance has confirmed in its Q3 market pulse report. The market was down in many sectors, the report found, although the entry of institutional players such as Deutsche Bank, Sony and PayPal helped offset some of the pain.  The global crypto market capitalization was down 8.6% quarter-on-quarter (QoQ) “with the ‘higher for longer’ interest rate rhetoric set to persist.” Fundraising was at its lowest since Q4 2020 and down 21.4% QoQ, with infrastructure doing significantly better than other sectors. Activity was down slightly…

How high can Bitcoin price go by 2024?

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Bitcoin (BTC) is up over 70% so far in 2023, helped by a banking crisis and hopes about a spot BTC exchange-traded fund (ETF) approval in the United States. BTC/USD daily price chart. Source: TradingView So, will Bitcoin price continue to climb for the rest of 2023? Cointelegraph takes a look at its chances and possible BTC price targets. Related: BTC price models hint at $130K target after 2024 Bitcoin halving 2020 Bitcoin price fractal eyes $50K Bitcoin’s ongoing market trend looks very similar to its price action during the 2017…

Europe’s AML regulations come at a high cost — for your privacy and otherwise

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The European Union’s financial regulatory landscape is in flux with the introduction of multiple Anti-Money Laundering (AML) directives and related laws. These regulations, although designed to protect the financial system, come at a hidden, and sometimes steep, cost to consumers and financial institutions alike. It’s imperative to understand their wider implications, and to question whether the costs — both monetary and ethical — are simply too high. To name just a few, the AML Directive 5, MiCa and the Transfer of Funds Regulation have reshaped the European financial framework. These…