Bitcoin investors yanked $635 million from spot ETFs in a day. Here's what it means for price
A key tailwind that supposedly powered bitcoin’s recent rise above $80,000 appears to be fading.
The 11 U.S.-listed spot bitcoin exchange-traded funds (ETFs), which pulled in $3.29 billion in investor money through March and April, are now leaking funds. And sizeable ones at that.
On Wednesday, investors yanked $635 million from these funds,
Read MoreBitcoin ETFs Record Largest Outflow in Over 3 Months as Solana Funds Keep Flashing Green
Spot Bitcoin (BTC) exchange-traded funds (ETFs) saw $635.23 million in outflows on May 13. That was the largest single-day outflow since January 29.
According to SoSoValue data, Bitcoin ETFs have recorded two consecutive days of outflows this week, threatening to end a six-week streak of positive weekly inflows.
Read MoreWhy the ECB’s June Interest-Rate Hike Is Becoming Less Certain
(Bloomberg) — Two weeks after Christine Lagarde put investors on alert that the European Central Bank is moving toward raising interest rates, a hike in June is becoming less obvious.
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With oil prices not spiking as high as many feared,
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Read MoreHow have NTPC stocks delivered 232% return in the past 10 years?
The National Thermal Power Corporation (NTPC) is pursuing growth through a balanced expansion across conventional and clean energy segments while maintaining a strong focus on fuel security, on-time execution and prudent capital allocation.|
Its shares outperformed Nifty by delivering 232% return since 2016 against the benchmark’s 203% return during the same period.
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Read More1 Outstanding Growth Stock That Is a No-Brainer Buy on the Dip
Software companies are experiencing a sell-off this year. Shopify (SHOP 1.49%), a corporation that runs a cloud-based platform that allows online merchants to start and run e-commerce stores, hasn’t escaped the bloodbath. The company’s shares are down by 34% to date. However, at current levels,
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Read MoreThe Burst
How Far Will The Market Fall?
Zooming out is often quite helpful in providing insights as to where the market is likely to go. When we examine a chart of the S&P 500 now on a weekly basis, a clear uptrend from mid-2022 has formed.
So too has a strong resistance line been created at close to the 4,800 mark both at the end of 2021 and the end of 2023.
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Read MoreThe Ivy
If World War 3 Breaks Out, Own This Stock
With news breaking recently of a drone attack by Ukraine on Moscow, it appears the stakes have risen and tensions escalated.
Amid the backdrop of war, defense contractors are a natural play on the markets. And they don’t necessarily even need the US to get involved to benefit.
Reportedly, President Biden stated that many of the so-called aid packages to Ukraine are in fact funds that never leave US shores but instead land in the coffers of defense contractors,
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Read MoreThe Spotlight
Don’t Sleep On This Bedtime Stock
The impact of a sleep deficit goes far beyond feeling a bit drowsy during the day. Getting less than seven hours of sleep regularly can contribute to weight gain and obesity, high blood pressure, diabetes, stroke and heart disease. Lack of sleep is also associated with depression, reduced immune function, increased pain, more errors, more accidents and impaired performance at work or school.