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☆ 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

☆ Stocks to buy if Trump leads Republican sweep after Biden debate flop, according to Wolfe Research
▼ + stars: | 2024-07-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Wolfe Research is laying out some potential stock winners if former president Donald Trump wins the White House and Republicans sweep both houses of Congress in November. Here are some of the stocks that could benefit from what Wolfe called "a GOP Trifecta" in the fall: Trump Media & Technology Group is one name that could win big from a Trump sweep. Coinbase is another potential winner from a Trump victory. Among other financial stocks, Wolfe Research also highlighted Charles Schwab . Wolfe also highlighted 3M , Halliburton , Dow and Sempra on a lengthy list of stocks that should benefit from a Trump win.

Persons: Wolfe, Donald Trump, Joe Biden, Biden, Coinbase, Charles Schwab, Ben Hendrix Organizations: White House, Trump Media & Technology, Trump, Wolfe Research, Health, UnitedHealthcare, RBC Capital, GOP, SolarEdge Technologies, Halliburton, Dow, Sempra

☆ 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

☆ Crypto firm Circle gets approval to issue stablecoin in EU under bloc’s strict rules
▼ + stars: | 2024-07-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

In this article USDC.CM= Follow your favorite stocks CREATE FREE ACCOUNTLaunched in 2018 by crypto firm Circle, USDC is now the second-biggest stablecoin globally, with more than $30 billion worth of tokens in circulation. The company said it is also opening up its Circle Mint, which allows businesses to mint and redeem Circle stablecoins, in France. That's because according to MiCA, crypto businesses are able to offer their services in one EU country and "passport" them out into other markets within the bloc. After that point, crypto companies will have until July 2026 to become fully compliant with MiCA. Launched in September 2018 by Circle and crypto exchange Coinbase, USDC is now the second-biggest stablecoin globally, with $32.4 billion worth of tokens in circulation, according to CoinGecko data.

Persons: Circle, it's, Prudentiel, Jeremy Allaire, Allaire, cryptocurrencies, stablecoins, USDT Organizations: Getty, EMI, Union's, U.S ., Investors, European Union, Circle Locations: France, Crypto, U.S, European

☆ 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

☆ 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

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin jumps back above $63,000 to kick off second half of 2024: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Thomas Perfumo, head of business operations & strategy at Kraken, weighs in on what's driving the crypto market the second half of 2024 kicks off.

Persons: explainers, Thomas Perfumo Organizations: CNBC Crypto, CNBC

☆ Watch CNBC’s full interview with Fundstrat’s Tom Lee
▼ + stars: | 2024-07-01 | 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 EmailWatch CNBC’s full interview with Fundstrat’s Tom LeeTom Lee, Fundstrat Global Advisors co-founder and head of research, joins 'Squawk on the Street' to discuss markets, his bitcoin thesis, and more.

Persons: Fundstrat’s Tom Lee Tom Lee Organizations: Fundstrat Global Advisors

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

☆ Bitcoin will have 'pretty sharp rebound' in the second half of the year, says Fundstrat's Tom Lee
▼ + stars: | 2024-07-01 | 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 will have 'pretty sharp rebound' in the second half of the year, says Fundstrat's Tom LeeTom Lee, Fundstrat Global Advisors co-founder and head of research, joins 'Squawk on the Street' to discuss markets, his bitcoin thesis, and more.

Persons: Tom Lee Tom Lee Organizations: Fundstrat Global Advisors

☆ 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

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin dips to $60,000 as the cryptocurrency heads for losing month: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. Ben McMillan, IDX Digital Assets CIO and founder, the state of crypto markets and the future of crypto ETFs. Plus, Chris King of Eaglebrook Advisors weighs in on adoption of spot crypto ETFs by investment advisors.

Persons: explainers, Ben McMillan, Chris King Organizations: CNBC Crypto, CNBC, IDX Digital, CIO, Eaglebrook

☆ Peter Thiel still holds some bitcoin but isn't sure the price will rise 'dramatically'
▼ + stars: | 2024-06-28 | 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 EmailPeter Thiel still holds some bitcoin but isn't sure the price will rise 'dramatically'Peter Thiel joins the Aspen Ideas Festival on Thursday to give his take on bitcoin. NBCUniversal News Group is the media partner of the Aspen Ideas Festival.

Persons: Peter Thiel Organizations: Aspen Ideas, NBCUniversal

Bitcoin mining companies have expansive data centers, with access to fiber lines and large amounts of power across the U.S. They're exactly the types of facilities needed for compute-intensive AI operations, which means their sites and technology are in high demand. Core Scientific will deliver 70 megawatts of computing infrastructure to support CoreWeave's operations. Earlier this month, CoreWeave offered to buy Core Scientific for $1.02 billion, not long after their initial agreement. Core Scientific rejected the bid.

Persons: JPMorgan Chase, CoreWeave, Adam Sullivan Organizations: JPMorgan, Core, Nvidia

☆ Chart analysts say 'something is not right' with stock market, grow increasingly worried
▼ + stars: | 2024-06-27 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The S & P 500 and Nasdaq Composite have rallied during the second quarter and are currently within 1% of their record highs. "It's great to see S & P and Nasdaq make new highs, but clearly something is not right if key barometers for risk are rolling over," Ginsberg wrote. There doesn't even seem to be a consensus among the biggest names in the stock market. These latest signs of weakness are part of the long-standing worry about the lack of market breadth . RSP YTD mountain The equal-weight S & P 500 is headed for a losing second quarter.

Persons: Wolfe, Rob Ginsberg, Russell, Ginsberg, Jonathan Krinsky, Krinsky, — CNBC's Michael Bloom Organizations: Nasdaq, Wolfe Research, Nvidia, Microsoft, Apple, Big Tech, RSP, Bears

☆ Steady dollar sends yen to the brink of 160
▼ + stars: | 2024-06-26 | by ( ) www.cnbc.com time to read: +2 min

The dollar was firm on Wednesday and trading on the precipice of the 160 yen barrier as investors turned cautious and counted down to the release of U.S. price data at the end of the week. The dollar was firm on Wednesday and trading on the precipice of the 160 yen barrier as investors turned cautious and counted down to the release of U.S. price data at the end of the week. The Australian dollar dipped 0.1% to $0.6640 and the New Zealand dollar similarly slipped to $0.6115, with small moves reflecting thin trade. Sterling was steady at $1.268, while bitcoin has recovered somewhat from a dip below $60,000 this week to trade at $61,668. "The yen moves more, and yuan moves are more controlled, but they seldom move in opposite directions," said Societe Generale strategist Kit Juckes.

Persons: Pat Bustamante, Lisa Cook, Michelle Bowman, Bowman, bitcoin, Kit Juckes Organizations: Canadian, Westpac, Federal, Fed, New Zealand, Citi, Sterling, Generale Locations: Asia, U.S, China

☆ 911 call logs for Tesla's HQ reveal reports of 'terroristic' threats and attempted extortion
▼ + stars: | 2024-06-26 | by ( Natalie Musumeci | Grace Kay | ) www.businessinsider.com time to read: +14 min

"Wire $300,000 dollars to bitcoin account within 12 hours," the email to Kirkhorn added, according to the incident report. The case was ultimately suspended and no arrest was ever made, according to the incident report and Dark. AdvertisementSome Tesla workers told BI that tight production deadlines and the intensity of the work could sometimes create a high-pressure environment. We were just standing outside the building waiting to go back to work," one worker, who was there during the ordeal, told BI. The sheriff's office told local news at the time that the building was cleared and there was "nothing to substantiate the presence of a shooter at all."

Persons: —, Elon Musk, Musk, Tesla, Zachary Kirkhorn, Zachary Kirkhorn —, Austin Gigafactory, Kirkhorn, Travis, Kristen Dark, SUZANNE CORDEIRO, Austin, Joe Biden, Justin Mathew McCauley of, McCauley's, McCauley, Justin Sullivan, they'd, Apu Gomes, X, Mark Zuckerberg, Zuckerberg, Meta, Sheryl Sandberg, John Lennon Organizations: Service, Business, Securities, Exchange Commission, BI, YouTube, Tesla's, Tesla, Street Journal, Office, Musk, FOX, Austin, Factory, Getty, Elon, SEC, Meta, Twitter, BBC Locations: Austin, Travis, Texas, Nigeria, Justin Mathew McCauley of Minnesota, Minnesota, Fremont , California, Tesla's, Sparks , Nevada, Nevada

☆ 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

☆ Bitcoin prices are moving in tandem with macro backdrop, analyst says
▼ + stars: | 2024-06-26 | 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 prices are moving in tandem with macro backdrop, analyst saysLucy Gazmararian, founder and managing partner at Token Bay Capital, says bitcoin has the capacity to move in tandem with macro news, geopolitics and monetary policy.

Persons: Lucy Gazmararian, bitcoin

☆ Citi Wealth's horrible tech is infuriating clients and employees and endangering its turnaround
▼ + stars: | 2024-06-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +11 min

But even clients who get through the door can be reluctant to park more assets with Citi, according to a wealth advisor. To understand the extent of Citi Wealth's tech woes and the stakes, Business Insider spoke with 14 current and former employees. Andy Sieg took over Citi Wealth in September after leaving Merrill Wealth Management. Citi Wealth clients are losing their patienceCiti receives 27,000 monthly complaints from wealth customers, according to the audit. Getting bank statements emailed is difficult for Citi private bank clients when it's a matter of checking a box at other major banks.

Persons: —, Andy Sieg, Roth, Ernst & Young, EY, Merrill Lynch, Sieg, Morgan Stanley, Kris, Wells, Mike Mayo, Jane Fraser, Shadman Zafar, Alois Pirker Organizations: Service, Revlon, Citi, Business, Ernst, Citi Wealth, Merrill Wealth Management, Morgan, Citigroup, Apple, Microsoft, Bankers, Employees, Work, Fidelity, Advisors

☆ Here are Tuesday's biggest analyst calls: Nvidia, Tesla, Disney, Gap, Ford, Rivian, Apple, Tesla, Uber, Exxon & more
▼ + stars: | 2024-06-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Bank of America reiterates Nvidia as buy The firm named Nvidia to its best-of-breed list. Goldman Sachs reiterates Microsoft as buy Goldman said it's sticking with its buy rating on the stock. "We reiterate our Buy rating ($515 Price Target) on Microsoft as we see the company yielding strong returns on its Gen-AI investments." "We are initiating on Carpenter Technology (CRS) with a Buy rating and $144 target price (47% upside potential)." "We are initiating coverage on Rivian Automotive, Inc. (RIVN) with a BUY rating and $18 PT."

Persons: BoB, Goldman Sachs, Goldman, it's, TD Cowen, Zeta, Raymond James downgrades Penn, Raymond James, Wells, Tapestry's, Tesla, Piper Sandler, Uber, Piper, AMZN, Morgan Stanley, Ford, Evercore, Truist, Guggenheim, Rivian, Robinson, CHRW, Maxim, MicroStrategy Organizations: Bank of America, Nvidia, Disney, Microsoft, Technology, RBC, Zeta Global, PENN, UBS, Exxon, Deutsche Bank, Carpenter Technology, Tesla, Ford, TAP, Ball Corp, Rivian Automotive, Inc, Apple Locations: Capri, HNST

☆ Bitcoin bounces above $61,000, Solana leads cryptocurrencies higher
▼ + stars: | 2024-06-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Cryptocurrencies rose broadly, a day after bitcoin slumped to under $60,000 for the first time since early May, leading to a broad sell-off in crypto assets. Solana was the crypto market leader on Tuesday, however. The token tied to Chainlink, which provides data feeds on the Solana network, gained 7%. Ether gained 2% and coins linked to other Ethereum rivals rose broadly. Cardano's ADA jumped more than 6%, Polkadot advanced 5% and Binance Coin rose 3%.

Persons: bitcoin, Noelle Acheson, Solana, Ben Kurland Organizations: Metrics, Nvidia, Nasdaq, Solana Foundation, ADA, Polkadot Locations: Solana

☆ 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

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