Market Wrap: Bitcoin Briefly Breaks Below $9K, but Markets Remain Comatose

Bitcoin broke below $9,000 Thursday afternoon as the leading cryptocurrency has continued to trade in a tight range just above $9,000 for several weeks. Despite the brief 3% afternoon drop, however, the cryptocurrency markets continue to stay eerily calm as volatility drops and traders continue to expect a big move. Bitcoin was changing hands at around $9,060 as of 20:00 UTC (4 p.m. ET).  Ether, the second-largest cryptocurrency by market capitalization, dropped 3%, trading around $225 as of 20:00 UTC (4 p.m. ET), according to Coinbase. Bitcoin teased bearish traders…

Market Wrap: As Traditional Markets Rally, Bitcoin Gets Boring

Bitcoin broke above $9,250 for the first time since Friday as the leading cryptocurrency continues to trade in a tight range just above $9,000 for several weeks. But cryptocurrency markets have stayed quiet as traders expect a big move. Bitcoin was trading hands around $9,250 as of 20:00 UTC (4 p.m. ET).  Ether, the second-largest cryptocurrency by market capitalization, gained 3%, trading around $232 as of 20:00 UTC (4 p.m. ET), according to Bitstamp. Despite trading above $9,250, bitcoin is still stuck within a tight range of a few hundred…

ICO statement on the Competition and Markets Authority’s market study

Simon McDougall, Executive Director for Technology and Innovation, said: “As data becomes ever more central to business models, the interaction between data protection and competition regulation increases. The Competition and Markets Authority’s (CMA) Market Study highlights the cross regulatory issues that arise in today’s digital landscape. We have welcomed the chance to contribute to this important work. “Giving people control over what happens to their personal data is central to data protection law in the UK and is also a vital element of consumer protection. Our joint engagement will bring…

What the Stock Market’s ‘Robinhood Rally’ Means for Bitcoin

The largest 50-day “Robinhood” rally in stock market history and even stocks of bankrupt companies are up more than 100%. What is going on? Our main topic: The “Robinhood Revolution.”  The next time someone tells you crypto markets are too irrational or volatile, point them to stock markets right now. This is the “Robinhood Revolution,” as a horde of day traders are outperforming billionaire investors and commanding the stock market narrative. This episode looks at: Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest…

The Stock Market’s Biggest Gains Always Happen at the Same Time Each Day

For more than 20 years, the stock market has made its most significant gains at the same time: overnight. After-hours trading for the S&P 500 has generated almost 600% while intraday gains are flat since 1993. The phenomenon has been even more pronounced since the great March 2020 selloff. Timing is everything in the stock market. Buying at the wrong moment is the difference between making money and getting burned. So, what if you knew exactly when all the biggest gains happened almost every single day? Well, we can’t be…

The Stock Market’s Greatest Rally In History Will Continue – Here’s Why

The S&P 500 continues to climb despite a bleak economic backdrop. The Federal Reserve is the engine that powers asset inflation. Expect the S&P 500 to print a new all-time high soon. Amid record unemployment, widespread civil unrest, global pandemic, and a shrinking economy, the S&P 500 is 8% off of its all-time high. The benchmark index has printed gains of 37.7% over the last 50 days, putting together the greatest 50-day rally in history. With the Federal Reserve driving this run, expect the S&P 500 to post a new…

Pomp Explains Why Mainstream Markets Are Up Amid Chaos

Even in light of recent riots, protests, and uncertainties, mainstream U.S. financial markets show upward prices due to overarching forces, according to Morgan Creek Digital co-founder, Anthony Pompliano.  “Yes there are protests, there are all these things, but the bigger force is the fact that now all these businesses are opening up,” Pompliano said in a June 2 episode of “Lunch Money” on his YouTube channel. “There’s going to be more economic activity and there should be a recovery in that data.” Economy returning to function After weeks of shelter-in-place…

The Housing Market’s 9-Year Winning Streak Is Finally Coming to an End

U.S. home prices extended their nine-year winning streak in April, rising 5.4% over previous-year levels. That streak is about to come to an end. CoreLogic analysts predict this key metric of housing market strength will fall 1.3% over the next 12 months. With millions of people likely to remain unemployed for months to come, house prices could remain depressed for years. For nearly a decade, U.S. home prices have clung, unwaveringly, to an upward trajectory. But according to the latest CoreLogic Home Price Index Report, this key gauge of housing…

Ripple’s ODL Network Records ATH for XRP/AUD on BTC Markets Exchange

On-Demand Liquidity (ODL) for XRP paired with the Australian dollar reached a new all-time high of 15,640,530 AUD on the exchange BTC Markets. According to a recent tweet from the Liquidity Index Bot, the liquidity index for BTC Markets for XRP/AUD climbed to 15,640,530 AUD — approximately 10.6 million USD — on June 2, exceeding the previous ATH value. The XRP liquidity in Australian markets has seen a fairly steady rise since the beginning of 2020, despite the price remaining close to 0.20 USD since May 10.  Source: LiquidityB ODL…

Ripple’s ODL Network Records ATH for XRP/AUD on BTC Markets Exchange

On-Demand Liquidity (ODL) for XRP paired with the Australian dollar reached a new all-time high of 15,640,530 AUD on the exchange BTC Markets. According to a recent tweet from the Liquidity Index Bot, the liquidity index for BTC Markets for XRP/AUD climbed to 15,640,530 AUD — approximately 10.6 million USD — on June 2, exceeding the previous ATH value. The XRP liquidity in Australian markets has seen a fairly steady rise since the beginning of 2020, despite the price remaining close to 0.20 USD since May 10.  Source: LiquidityB ODL…