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Marathon Digital Holdings and Hut 8 have made significant investments in Bitcoin, purchasing over 16,000 BTC for $1.6 billion during a market dip. Marathon acquired 15,574 BTC for approximately $1.53 billion, increasing its total holdings to 44,394 BTC, while Hut 8 bought 990 BTC for $100 million, raising its reserves to 10,096 BTC. These moves follow a sharp decline in Bitcoin's value, which dropped over 5% due to a US Federal Reserve rate adjustment.
The cryptocurrency market faced significant declines, with Bitcoin dropping below $96,000 for the first time in over a month, while Ethereum and Dogecoin also retreated sharply. Over $1 billion was liquidated in the last 24 hours, primarily from long positions, as market sentiment weakened. Analysts warn that if Bitcoin fails to hold the $96,000 support, it could fall further to $90,000 and $85,000, signaling a potential corrective phase.
UBS strategists, led by Andrew Garthwaite, predict a potential S&P 500 surge amid bubble conditions, noting that while the index has risen 23% this year, it hasn't yet entered a bubble due to restrictive monetary policy. They identify six of seven necessary bubble conditions, with the missing element being a looser monetary stance, suggesting a federal funds rate around 3.2% is needed. UBS estimates a 35% chance of a bubble by 2025, with the S&P 500 possibly surging by at least 20%, recommending investments in reasonably priced AI and electrification stocks like TSMC and Meta to hedge against risks.
UBS strategists, led by Andrew Garthwaite, predict a potential S&P 500 surge amid bubble conditions, noting that while the index has risen 23% this year, a loose monetary policy is still absent. They identify six of seven bubble conditions met, with a federal funds rate of around 3.2% needed to trigger a shift of funds into stocks. UBS estimates a 35% chance of a bubble by 2025, suggesting a possible 20% increase in the S&P 500, and recommends investing in reasonably priced AI and electrification stocks like TSMC and Meta to hedge against risks.
Transrail Lighting's IPO, valued at Rs 839 crore, was fully subscribed by Day 2, with a listing set for December 27. Meanwhile, the stock market faced significant losses, with the SENSEX plunging over 900 points, driven by declines in IT stocks and profit booking in Mobikwik shares after a recent rally. Other IPOs, including Mamata Machinery and Concord Enviro Systems, showed strong subscription rates, reflecting robust investor interest.
The Indian stock market faced a downturn, with the Nifty 50 index dropping 236 points to close at 23,961, marking its fourth consecutive decline. Sumeet Bagadia from Choice Broking noted that the market bias has weakened significantly, with crucial support at the 200-DEMA level of 23,800. He advised a stock-specific approach for intraday trading, as the market may remain sideways to negative until it surpasses the 24,000 mark decisively.
The Santa Claus rally presents a promising opportunity for Australian markets, particularly benefiting the financial, commodity, technology, and energy sectors. Key players like Commonwealth Bank, Northern Star Resources, and Xero are poised to capitalize on increased consumer spending and positive market sentiment during the holiday season. Additionally, Afterpay's growth potential is bolstered by its recent acquisition and the popularity of its Buy Now, Pay Later model amid festive spending.
IG
Bitcoin's price recently fluctuated, dropping below $99,000 before rebounding to $104,000, settling at $100,573, marking a 3.4% decrease in a day. Exchange transaction volumes have hit record lows, indicating reduced trading activity, while a significant support zone has formed just below $100,000, with over 1.45 million BTC accumulated at an average price of $97,500. Analysts suggest that maintaining this support level is crucial for price stability, with potential for recovery if it holds, while a breach could lead to further declines.
21shares has registered a Polkadot trust in Delaware, signaling preparations for a potential DOT-indexed exchange-traded fund (ETF). This move is part of a broader trend, with analysts anticipating a wave of new ETFs in the market.
Ken Fisher emphasizes that the stock market serves as a predictor of future events. His insights suggest that market trends can provide valuable foresight into economic conditions. All market data is subject to a 20-minute delay.

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