Bitcoin at new record level - passes the peak from 2021
Bitcoin climbed to an all-time high on Tuesday, for the first time since late 2021. During the afternoon, the price of the cryptocurrency rose above $69,000, according to Coindesk.
The world's largest cryptocurrency is up 50 percent since the turn of the year, supported by the new bitcoin ETFs that have contributed to the buying pressure.
- We are back to the 2021 type of market where everything is rising and everyone is having fun, Brent Donnelly at analyst firm Spectra Markets told Reuters.
Bitcoin climbed to an all-time high on Tuesday, for the first time since late 2021. During the afternoon, the price of the cryptocurrency rose above $69,000, according to Coindesk.
The world's largest cryptocurrency is up 50 percent since the turn of the year, supported by the new bitcoin ETFs that have contributed to the buying pressure.
- We are back to the 2021 type of market where everything is rising and everyone is having fun, Brent Donnelly at analyst firm Spectra Markets told Reuters.
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Bitcoin funds are pulling in billions at a record pace
The US's new bitcoin funds have become a smash hit, contributing to the cryptocurrency's value increasing by almost 60 percent since the turn of the year, writes the Wall Street Journal.
Blackrock's bitcoin ETF last week passed $10 billion in assets under management following its January 11 launch. No exchange-traded fund has previously reached that amount so quickly.
In total, the US's ten new bitcoin funds have drawn in almost 50 billion dollars in capital, corresponding to 520 billion kroner.
Some analysts predicted that the funds' initial success would be followed by a slowdown, but instead inflows have accelerated in recent weeks as the price of bitcoin neared record highs.
On Tuesday, the bitcoin price is up 6 percent and is trading around $67,300. The record as of November 2021 is $68,990.
The US's new bitcoin funds have become a smash hit, contributing to the cryptocurrency's value increasing by almost 60 percent since the turn of the year, writes the Wall Street Journal.
Blackrock's bitcoin ETF last week passed $10 billion in assets under management following its January 11 launch. No exchange-traded fund has previously reached that amount so quickly.
In total, the US's ten new bitcoin funds have drawn in almost 50 billion dollars in capital, corresponding to 520 billion kroner.
Some analysts predicted that the funds' initial success would be followed by a slowdown, but instead inflows have accelerated in recent weeks as the price of bitcoin neared record highs.
On Tuesday, the bitcoin price is up 6 percent and is trading around $67,300. The record as of November 2021 is $68,990.
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Wall Street's decline intensifies - the entire Magnificent Seven back down
New York stock markets in the red for the second day in a row. At eight o'clock it looks like this:
S&P 500: -1.1%
Nasdaq: -1.9%
Dow Jones: -1.0%
The tech sector on the S&P 500 retreats 2.7 percent on Tuesday and all companies in the Magnificent Seven are traded in the red.
Advanced Micro Devices retreats 2 percent after Bloomberg reports that the company's AI chip may be stopped from being sold in China.
Even Apple falls 3 percent on Chinese figures for reduced sales in the first six weeks of the year. During yesterday, the company retreated 3 percent.
Tesla, which plunged 7 percent on Monday, continues down 4 percent. On Tuesday, production at the Berlin factory was completely stopped after a fire attack. It is unclear when production can resume.
Shopping chain Target surges 13 percent after reporting better sales than analysts' expectations in the fourth quarter, writes CNBC.
Meta declines 2 percent. During Tuesday, there have been major disruptions and login problems for Facebook, Instagram, Messenger and Threads.
New York stock exchanges yesterday:
S&P 500: -0.1%
Nasdaq: -0.4%
Dow Jones: -0.3%
New York stock markets in the red for the second day in a row. At eight o'clock it looks like this:
S&P 500: -1.1%
Nasdaq: -1.9%
Dow Jones: -1.0%
The tech sector on the S&P 500 retreats 2.7 percent on Tuesday and all companies in the Magnificent Seven are traded in the red.
Advanced Micro Devices retreats 2 percent after Bloomberg reports that the company's AI chip may be stopped from being sold in China.
Even Apple falls 3 percent on Chinese figures for reduced sales in the first six weeks of the year. During yesterday, the company retreated 3 percent.
Tesla, which plunged 7 percent on Monday, continues down 4 percent. On Tuesday, production at the Berlin factory was completely stopped after a fire attack. It is unclear when production can resume.
Shopping chain Target surges 13 percent after reporting better sales than analysts' expectations in the fourth quarter, writes CNBC.
Meta declines 2 percent. During Tuesday, there have been major disruptions and login problems for Facebook, Instagram, Messenger and Threads.
New York stock exchanges yesterday:
S&P 500: -0.1%
Nasdaq: -0.4%
Dow Jones: -0.3%
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