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☆ Breadth and diversification will help cushion the blow for crypto's volatility, says Andy Baehr
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBreadth and diversification will help cushion the blow for crypto's volatility, says Andy BaehrAndy Baehr, CoinDesk Indices head of product, joins 'Squawk Box' to discuss bitcoin's recent downturn, state of crypto, and more.

Persons: Andy Baehr Andy Baehr

☆ Still some downside to bitcoin within a long-term uptrend, says Fairlead Strategies' Katie Stockton
▼ + stars: | 2024-07-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStill some downside to bitcoin within a long-term uptrend, says Fairlead Strategies' Katie StocktonKatie Stockton, Fairlead Strategies founder and managing partner, joins 'Squawk Box' to discuss bitcoin's recently volatility, latest market trends, and more.

Persons: Katie Stockton Katie Stockton

☆ Bitcoin plummets as $9 billion Mt. Gox payout begins and government selling adds pressure
▼ + stars: | 2024-07-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Gox bitcoin recipients and government wallets. Gox still holds about 140,000 bitcoin and has started to repay creditors and former customers. The sharp decline has been accompanied by a wave of selling by notable bitcoin holders, including the defunct Mt. Fairlead Strategies highlighted $60,000 as a key support level that has since been broken. The decisive breakdown puts bitcoin's next support level target at around $51,500.

Persons: Bitcoin, Gox, —, Blockworks Organizations: Service, Bitcoin, Arkham Intelligence Locations: Mt, Gox, bitcoin, Germany

☆ Over $170 billion wiped off cryptocurrencies as market tanks on Mt. Gox bitcoin payout fears
▼ + stars: | 2024-07-05 | by ( Ryan Browne | ) www.cnbc.com time to read: 1 min

Cryptocurrencies plunged on Friday as investors focused on the payout of nearly $9 billion to users of collapsed bitcoin exchange Mt. As of 9:20 a.m. London, time, bitcoin's price slumped more than 6% in 24 hours to hit $54,237.18, its lowest level since late February, according to data from CoinGecko. Rival token ether sank around 10% to $2,869.36. Altogether, the entire cryptocurrency market has shed more than $170 billion in combined market capitalization in the last 24 hours, according to CoinGecko data. This breaking news story is being updated.

Persons: Cryptocurrencies Organizations: CoinGecko Locations: Gox, London

☆ Bitcoin slides under $55,000 as Mt. Gox payouts begin
▼ + stars: | 2024-07-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin slides under $55,000 as Mt. Gox payouts beginCNBC's Tanaya Macheel joins 'Halftime Report' to break down bitcoin's Friday tumble and what it means for bitcoin's near-term price action and supply dynamics.

Persons: Macheel

☆ Bitcoin's slide under $58,000 could mark a bigger correction to come, analyst says
▼ + stars: | 2024-07-04 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The decline puts bitcoin below its 200-day moving average, which could signal a downturn, FXPro's Alex Kuptsikevich said. Investors are unloading the token as fear mounts of selling pressure from Mt. The fallout extends a three-day drop, as worries mount over impending selling pressure in the market. The decline has now pulled bitcoin below its 200-day moving average, FXPro senior market analyst Alex Kuptsikevich pointed out. But that's adding to fears over selling pressure, as clients may choose to cash their tokens for big gains.

Persons: Bitcoin, Alex Kuptsikevich, —, bitcoin, Kuptsikevich, Fundstrat's Tom Lee, Michael Novogratz Organizations: Investors, Service, Galaxy Locations: Mt, Gox, bitcoin, solana

☆ Bitcoin slides to two-month low as Fed signals it's not ready to cut rates yet
▼ + stars: | 2024-07-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

A worsening macroeconomic climate and the collapse of industry giants such as FTX and Terra have weighed on bitcoin's price this year. STR | Nurphoto via Getty ImagesBitcoin's price slumped to around $57,000 apiece Thursday, hitting a two-month low after the U.S. Federal Reserve released minutes from its June meeting indicating the central bank isn't yet ready to cut interest rates. Since then, bitcoin has pared losses somewhat and was trading at $57,932.57, down 3.4% as of 5:05 p.m. London time. Higher interest rates are typically less favorable for bitcoin and other cryptocurrencies as it dampens investor risk appetite. ETFs allow investors to buy a product that tracks the price of bitcoin without owning the underlying cryptocurrency.

Persons: bitcoin, Bitcoin, Crypto, CCData Organizations: Getty, U.S . Federal Reserve, Federal Reserve, Securities and Exchange Commission Locations: London, U.S, Gox

☆ CNBC Daily Open: 'Roaring Kitty' gets chewed up
▼ + stars: | 2024-07-02 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock exchange during morning trading on Nov. 10, 2023 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. AI momentumWall Street kicked off the second half of the year with modest gains, propelled by continued strength in megacap stocks. Boeing, Spirit upShares of Boeing and Spirit AeroSystems rose 2.58% and 3.35% respectively after Boeing agreed to buy back fuselage maker Spirit in a $4.7 billion all-stock deal.

Persons: Keith Gill, Gill, Paris . Hurricane Beryl Cruise, Tom Lee, Lee Organizations: New York Stock, CNBC, Dow Jones, Nasdaq, Microsoft's, Paramount, Warner Bros ., Netflix, Securities and Exchange Commission, Wall, Boeing, Airbus, Paris . Hurricane, Norwegian Cruise, Royal Locations: New York City, U.S, Chewy, Belfast , Wichita, North Carolina, Paris ., Grenada, Norwegian, Royal Caribbean, Mt

In a few days, bankrupt Tokyo-based bitcoin exchange Mt. Disbursements will be in a mix of bitcoin and bitcoin cash, an early offshoot of the original cryptocurrency. Gox — short for "Magic: The Gathering Online Exchange" — was once the largest spot bitcoin exchange globally, claiming to handle around 80% of all global dollar trades for bitcoin. Gox users would likely translate to huge sales in bitcoin as investors look to lock in gains. Vijay Ayyar, head of consumer growth for Asia-Pacific at crypto exchange Gemini, said that the overall impact of the Mt.

Persons: Omer Taha Cetin, that's, Disbursements, bitcoin, Gox, —, John Glover, Glover, James Butterfill, bitcoin's, Gemini, Lennix Lai, Butterfill, Bitcoin, Jacob Joseph, Joseph, Alex Thorn, Thorn, Vijay Ayyar, Gox disbursement, Ayyar Organizations: Anadolu, Getty, CNBC, bitcoin, Barclays, CoinShares, Gemini, JPMorgan, Arkham Intelligence, Analysts, U.S . Securities, Exchange, Federal Reserve Locations: Tokyo, Gox, Mt, bitcoin, Asia, Pacific

☆ CNBC Daily Open: U.S. seeks Boeing guilty plea
▼ + stars: | 2024-07-01 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. On Friday, the S&P 500 and Nasdaq hit record highs before pulling back. Boeing 'guilty plea'U.S. prosecutors plan to seek a guilty plea from Boeing over a charge related to two fatal 737 Max crashes in 2018 and 2019, attorneys for the victims' family members said. [PRO] Rally will broadenThe tech sector has driven market performance in 2024, with the S&P 500 tech group up 28% and Nvidia soaring 149%, while small-caps have lagged.

Persons: Max, John Donahoe, Morgan Stanley, Stifel, Gregory Greene, Mary Daly, CNBC's Andrew Ross Sorkin, John Stoltzfus, Lisa Kailai Han Organizations: Dow Jones, Nasdaq, CNBC, Hezbollah, Boeing, U.S, The Justice, DOJ, Nike, Federal Reserve, San Francisco Fed, Nvidia Locations: Israel, Iran, Gox, Japanese

☆ Bitcoin is about to clear a big overhang, and the crypto will recover from its slump to reach $150,000 by year-end, Fundstrat's Tom Lee says
▼ + stars: | 2024-07-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Bitcoin holders will see a huge appreciation in the coin by the end of the year. The crypto is on track to hit $150,000 as it clears an overhang created by Mount Gox repayments, Tom Lee said. Bitcoin has had a strong year so far, hitting a fresh record high before edging lower in recent weeks. AdvertisementBut the impact of repayments will fade, Lee suggested, forecasting another big rally to boost bitcoin through the rest of this year. "Bitcoin's probably suffering from the Mount Gox starting distributions in July.

Persons: Tom Lee, Bitcoin, —, Lee, Gox, Bitcoin's, bitcoin Organizations: Service, bitcoin, Mount, CNBC

☆ Tom Lee stands by $150,000 bitcoin forecast, says 10-year Mt. Gox overhang should disappear in second half
▼ + stars: | 2024-07-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Fundstrat's Tom Lee is standing by his $150,000 forecast for bitcoin despite recent weakness in the cryptocurrency. Bitcoin has been stuck in a tight trading range between $60,000 and $70,000 since it touched an all-time high of about $73,000 in March. Gox starting distributions in July – that was a huge overhang for many years," Lee told CNBC's " Squawk Box " Monday morning. BTC.CM= 1M mountain Bitcoin's recent weakness On June 24, the trustee of the now defunct Mt. Additionally, the U.S. and German governments sent large amounts of previously seized bitcoin to exchanges at the end of June, further driving the coin's recent weakness.

Persons: Fundstrat's Tom Lee, Bitcoin, Bitcoin's, Lee, CNBC's, I'd, bitcoin Locations: Mt, U.S

☆ Bitcoin blues could extend into July but outlook for the second half is upbeat
▼ + stars: | 2024-06-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Bitcoin's blues could linger throughout July, but investors are still optimistic about the cryptocurrency in the second half of the year. July is usually a strong month for bitcoin, which has finished higher for the month in seven of the last 11 years, according to CoinGlass. "There are always other known potential sources of bitcoin supply from government for example, but it's always uncertain when that's coming to market. This week, the crypto market was startled when the U.S. and German governments sent large amounts of previously seized bitcoin to exchanges, according to CryptoQuant. Marion Laboure, senior strategist at Deutsche Bank Research, said growing demand for crypto ETFs will help keep bitcoin's price "elevated" in the months ahead.

Persons: bitcoin, Zach Pandl, it's, JPMorgan's Nikolaos Panigirtzoglou, Pandl, Trump, Marion Laboure, 21Shares, Michael Bloom Organizations: Metrics, Federal, U.S ., Deutsche Bank Research, Solana Locations: U.S, Mt

Users of collapsed bitcoin exchange Mt. At the height of its success, the platform was the largest spot bitcoin exchange in the world, claiming to handle around 80% of all global dollar trades for bitcoin. Gox creditors creates "downside risk" next month, though it would be short-lived. Gox creditors take place in July, [this] creates a trajectory where crypto prices come under further pressure in July, but start rebounding from August onwards," the analysts wrote. Gox creditors opted for in-kind reimbursement has to do with the tax implications.

Persons: Kiyoshi Ota, Gregory Greene, Greene, Bitcoin, Greene's, John Glover, Ledn, Glover, Gox, Alex Thorn, They'll, Roger Ver, Blockstream, Adam Back, Greg Maxwell, Bruce Fenton, Thorn, there's, There's, Luke Nolan, CoinShares, JPMorgan Organizations: Bloomberg, Getty, Mt, CNBC, bitcoin, Online, Galaxy Digital, Bitcoin, Barclays, JPMorgan Chase, Gox Locations: Gox, Illinois, bitcoin, Mt

☆ Here's what's next for bitcoin after the cryptocurrency returned to $60,000 this week
▼ + stars: | 2024-06-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin is testing a key level once again after the cryptocurrency fell below $60,000 this week for the first time since May 3. "There's key support at $57,500, the 200-day average, down to $56,500, the May low — and a downside breach would be damaging." It is currently suffering from a lack of near-term catalysts, low demand for bitcoin exchange-traded funds and miners' selling of bitcoin. BTC.CM= 6M mountain Bitcoin this year If bitcoin fails to hold $57,000, Wald added, $49,000 would become its next key downside level. Until then, "I always side with trend, meaning I'd assume the rising 200-day average holds.

Persons: Oppenheimer, Ari Wald, Bitcoin, bitcoin, Wald, David Keller, bitcoin's, Keller, Tom Fitzpatrick, R.J, O'Brien Organizations: Metrics, NASDAQ

☆ CNBC Daily Open: Dow jumps as investors rotate out of tech; Nvidia sinks
▼ + stars: | 2024-06-25 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow up, Nvidia sinksThe Dow Jones Industrial Average rose 260 points as investors rotated out of technology and into banking and energy stocks, such as Goldman Sachs and Chevron. He expressed concerns about potential criticism from former President Donald Trump if rate cuts occur before the election. "I suspect the market is probably more right than wrong when it says the rate cuts are likely to come after the election," he said. James Butterfill, head of research at CoinShares, attributes the sell-off to concerns over the number of rate cuts.

Persons: Dow, Goldman Sachs, David Rubenstein, Rubenstein, CNBC's Andrew Ross Sorkin, Donald Trump, Bitcoin, James Butterfill, Shein Organizations: CNBC, Nvidia, Dow Jones, Chevron, Nasdaq, Treasury, The Carlyle, Federal Reserve, Novo Nordisk Locations: Israel, Lebanon, Novo, North Carolina, Danish, London, U.S, Beijing, Singapore, China

☆ Bitcoin and AI are both a 10-year trend with massive tailwinds, says Anthony Pompliano
▼ + stars: | 2024-06-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin and AI are both a 10-year trend with massive tailwinds, says Anthony PomplianoAnthony Pompliano, Pomp Investments founder and partner, joins 'Squawk Box' to discuss the state of crypto, bitcoin's wild run in 2024, impact of AI, and more.

Persons: Anthony Pompliano Anthony Pompliano Organizations: Investments

☆ Bitcoin tumbles back to $60,000 to start the week
▼ + stars: | 2024-06-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin continued its descent to $60,000 on Monday. The price of the flagship cryptocurrency was last down by more than 4% at $61,211.00, according to Coin Metrics. Digital asset investment products notched a second consecutive week of outflows, according to CoinShares. Last week crypto investment products saw their lowest trading volumes globally since the U.S. bitcoin ETFs launched in January. "We have now seen $1.2 billion of outflows from crypto ETFs over the last two weeks which all began after the FOMC meeting.

Persons: Bitcoin, cryptocurrency, James Butterfill, Eleanor Gaywood Organizations: Metrics, CNBC Locations: U.S

☆ Bitcoin is close to breaching a key support level that could trigger another 15% slide
▼ + stars: | 2024-06-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Bitcoin's 16% sell-off this month is testing a key support level at around $60,000. This support level is bolstered by Bitcoin's 200-day moving average of just under $58,000. A break below $60,000 could lead to a 15% decline to the next support level at $51,500. AdvertisementThe steady decline in bitcoin this month has the cryptocurrency testing a key support level that could ultimately give way to a more painful sell-off. But if it doesn't, and bitcoin decisively breaks below $60,000, that suggests the token could continue its descent to its next support level at around $51,500.

Persons: —, Bitcoin, Katie Stockton, bitcoin, Stockton Organizations: Service Locations: bitcoin

☆ Bitcoin's recent weakness signals an imminent S&P 500 correction, according to Stifel
▼ + stars: | 2024-06-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin's recent weakness could be signaling an upcoming correction in stocks, according to Stifel's chief equity analyst Barry Bannister. On Thursday, the S & P 500 briefly touched 5,500 for the first time after notching its most recent record close earlier in the week. "Weakening bitcoin … signals an imminent S & P 500 summer correction and consolidation phase," he said. "With the S & P 500 now at the very high end (2 sigma) of bitcoin post-peak cycle overlays since 2011, we have yet another strong signal that an imminent S & P 500 correction is possible." "Past bubbles since the 19th century indicate the S & P 500 could well rise to ~6,000 at year-end 2024 and then round trip to near where 2024 began five quarters later, by ~1Q26 (S & P 500 ~4,800)."

Persons: Barry Bannister, Bitcoin, Bannister, CNBC's, it's, Stifel Organizations: Nvidia, Nasdaq

☆ Chipotle's latest marketing campaign shows how restaurants are getting creative to win your lunch break
▼ + stars: | 2024-06-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at Chipotle's newest pitch in the big business that is winning your lunch break. Market research firm Future Markets Insights pegged the lunch takeout market at $215.3 billion in 2022 . Chipotle's latest marketing campaign shows how creative restaurants are getting to nab your lunch order. Bitcoin's cooldown might be a warning for the stock market. A Stifel strategist predicted a late-summer stock market decline based on bitcoin's 10% sell-off in the past few weeks.

Persons: —, Chelsea Jia Feng, Keith Lee, Alyssa Powell, haven't, Taco Bell, Tim Hortons, Burger King, sarayut Thaneerat, Tyler Le, Ken Griffin, Bitcoin's, isn't, That's, Jensen Huang's, Satya Nadella's, Marc Piasecki, Elon Musk, They're, Alfie, Alfie Health, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, Business, nab, bros, Chipotle, Getty, Brands, KFC, Taco, BI Citadel, Sunshine State, Congressional, Nasdaq, Apple, Apple Intelligence, Nvidia, Microsoft, Amazon, Elon Locations: Cava, Illinois, Florida, China, New York, London

☆ Bitcoin is sending a warning that the stock market is about to sell off, Stifel says
▼ + stars: | 2024-06-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Bitcoin's 10% sell-off since June 7 signals a warning for the broader stock market. AdvertisementBitcoin's 10% sell-off since June 7 is sending a warning sign to the broader stock market, according to Stifel strategist Barry Bannister. Bitcoin's inability to hit new record highs suggests the stock market is likely to play catch-up as it's set to decline in line with the cryptocurrency, according to the note. Bannister isn't the only analyst on Wall Street taking stock market cues from bitcoin. AdvertisementAdding to Bannister's conviction of an imminent stock market sell-off is the Federal Reserve, which could keep interest rates higher for longer to combat still-elevated inflation.

Persons: Barry Bannister, Bannister, —, bitcoin, Bannister isn't, Katie Stockton, Stockton, " Bannister Organizations: Nasdaq, Service, Nvidia, Apple, Wall, Fairlead, CNBC, Federal Reserve, Big Tech

☆ Bitcoin drifts back under $65,000 for the first time in more than a month
▼ + stars: | 2024-06-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

A worsening macroeconomic climate and the collapse of industry giants such as FTX and Terra have weighed on bitcoin's price this year. The price of bitcoin was last lower by 3% at $64,680.44, according to Coin Metrics, dipping under $65,000 for the first time since May 16. "Economic conditions around the globe are weakening, geopolitical issues are far from resolution, and markets are thinner during the summer months. Bitcoin has been wrestling with the $70,000 threshold since hitting its March 14 record of $73,797.68. Its on-chain data suggests that traders have been reducing their holdings since bitcoin touched the $70,000 level in late May and are still not buying.

Persons: bitcoin, Marko Jurina, DEX, Jurina, Coinbase, Bitcoin, It's, CryptoQuant Organizations: U.S, Nasdaq

☆ Advisors ‘wary’ of bitcoin ETFs are on a slow adoption journey, says BlackRock exec
▼ + stars: | 2024-06-16 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

The long-awaited bitcoin exchange traded funds launched in January, and financial advisors are on their way – though gradually – toward adopting them, according to BlackRock's Samara Cohen. The iShares Bitcoin Trust (IBIT) was among the funds to debut earlier this year. Responses ranged from bitcoin's notorious price volatility to the flagship cryptocurrency being too nascent to have established a significant track record. "I would call them wary … that's their job," Cohen said of the skeptical financial advisors. "This is an asset class that has had 90% price volatility at times in history, and their job is really to construct portfolios and do the risk analysis and due diligence.

Persons: BlackRock's Samara Cohen, Cohen, … Organizations: Crypto, CNBC, Council Locations: Coinbase State, New York City

☆ Bernstein says MicroStrategy is 'building the world's largest bitcoin company' and has 80% upside
▼ + stars: | 2024-06-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

MicroStrategy can run another 80% from here thanks to its aggressive bitcoin buying strategy, according to Bernstein. "Since August 2020, MSTR has transformed from a small software company to the largest bitcoin holding company, owning 1.1% of world's Bitcoin supply worth ~$14.5Bn," Bernstein analyst Gautam Chhugani said in a note. "MSTR's founder chairman, Michael Saylor has become synonymous with brand bitcoin and has positioned MSTR as a leading bitcoin company, attracting at-scale capital (both debt and equity) for an active bitcoin acquisition strategy." "MSTR positions itself as an 'active-leveraged' bitcoin strategy vs. passive spot ETFs," Chhugani said. … On a dollar basis, MSTR's Bitcoin $ NAV per share has grown ~4-fold beating ~2.4x growth in bitcoin spot price."

Persons: Bernstein, MicroStrategy, MSTR, Gautam Chhugani, MSTR's, Michael Saylor, Chhugani, — CNBC's Michael Bloom Organizations: BTC

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