Aurelia Butler

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  • 138 Shares139 Views

    in Cryptocurrency

    Bitcoin price today: steady at $92k after making new record highs

    But major altcoins retreated for the day, as risk appetite was dented by increased tensions between Russia and Ukraine. Bitcoin’s pace of recent gains also slowed as markets awaited more tangible cues on policy under incoming President Donald Trump. Bitcoin rose 0.6% to $92,074.4 by 00:13 ET (05:13 GMT). The world’s biggest crypto hit a record high of nearly $94,000 earlier in the day. Bitcoin rose sharply over the past two weeks, with gains sparked largely by Donald Trump’s victory in the 2024 presidential election.Trump had promised crypto-friendly regulations, ramping up hopes that such a scenario will draw more institutional capital into crypto. Bitcoin exchange-traded funds saw heavy inflows since Trump’s win.But focus was now on just what Trump’s policies will entail for crypto, with the president-elect set to take office in about two months. Sentiment towards Bitcoin was also boosted by MicroStrategy Incorporated (NASDAQ:MSTR), the world’s biggest corporate holder of the coin, buying a record high $4.6 billion of the coin in the past week. MicroStrategy CEO Michael Saylor indicated that the company will keep buying more coins, issuing more debt to fund its purchases. But despite Bitcoin’s resilience, broader crypto markets retreated on Wednesday, as risk appetite was dented by increased tensions between Russia and Ukraine, especially as Moscow lowered its threshold for nuclear retaliation.Risk appetite in stock markets was also seen faltering, as investors hunkered down before closely-watched earnings from market darling NVIDIA Corporation (NASDAQ:NVDA), due later on Wednesday.In crypto, strong gains in the past two weeks also saw most altcoins subject to some profit-taking. World no.2 crypto Ether fell 0.8% to $3,110.35.SOL, XRP and MATIC fell between 0.7% and 2%, while ADA rose 5%, albeit amid slim trading volumes.Among meme tokens, Dogecoin fell 0.4%, although it still remained in sight of a three-year high hit earlier in November, after Trump’s victory.Trump referenced the token with the formation of the Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, adding to the social media buzz around the popular meme token.  More

  • 63 Shares109 Views

    in Economy

    Best books of 2024: Economics

    $75 per monthComplete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%.What’s included Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition More

  • 338 Shares179 Views

    in Cryptocurrency

    Bitcoin (BTC) Hits Crucial Price Level: Details, Here’s Why Shiba Inu (SHIB) Is Moving Like Snail, Solana (SOL) Pushes to $300 as Billions in Volume Flow In

    Once a difficult target, the $90,000 level is now a possible area of support for the cryptocurrency. Investors anticipate that the $100,000 mark will be the next significant psychological and technical barrier. Bitcoin may set the stage for a much bigger rally if it can sustain its current momentum and successfully break through this level. Such breakouts frequently result in exponential growth, according to historical data, particularly when paired with a robust macroeconomic environment and growing adoption. On the down side, Bitcoin must remain above $85,000, a crucial support level.A brief retracement that tests lower supports around $75,000 could result from any breach of this level. The market structure is still bullish overall, though, and declines may present chances for additional accumulation. With Bitcoin surpassing its previous peak, the market is overwhelmingly in a positive mood. Given that the asset seems to be solidifying its standing as a trustworthy store of value long term, investors are especially upbeat. The goal for Bitcoin traders should be to hold onto the current support levels and keep an eye on the approach to the $100,000 mark, which might serve as a doorway to even greater heights. A plethora of investors sought to profit from Shiba Inu’s exponential growth during its meteoric rise in 2021. This led to a situation where a sizable amount of SHIB’s inventory is currently in retail wallets. These holders usually sell to lock in profits when prices try to rise, which continuously opposes upward momentum. The chart provided illustrates SHIB’s difficulty in breaking through the $0.000026 level, which has emerged as a significant short-term resistance. The trading volume has drastically dropped, indicating less buying pressure even though the 50-day EMA is still offering some support. Furthermore, traders’ lack of enthusiasm is reflected in the Relative Strength Index (RSI), which remains in neutral territory. Shiba Inu does have a basis for a possible recovery in spite of these difficulties. In addition to the tokens’ continued strong brand recognition, its sizable community is still active. SHIB may see a resurgence of interest if the overall cryptocurrency market stays bullish, particularly if it breaches significant resistance levels.Such volume spikes have historically come before significant price movements, and Solana’s recent performance indicates that it may maintain this bullish trend. Technically speaking, the recent breakout of Solana above the $200 resistance has created the conditions for additional upward movement. If buying pressure does not increase, $300 the next significant resistance level that corresponds with historical price zones might serve as a barrier.The value of $200 is currently a crucial support level on the downside, giving Solana’s price a base in the event of a decline. The amounts of $175 and $150 are two other noteworthy support levels; these were previously hot spots for buyers and might draw bids if the price corrects. Solana is in overbought territory according to the RSI, which may indicate a brief cooling-off period.Nevertheless, the overall trend is still bullish, bolstered by rising EMAs and robust market sentiment. Investors can determine whether the rally is sustainable by monitoring volume levels. While persistently high volumes would support the argument for a continuous push toward $300, a decline in volume might indicate waning momentum.This article was originally published on U.Today More

  • 150 Shares129 Views

    in Economy

    Pfizer cannot recoup $75 million from SEC insider trading settlement, judge rules

    NEW YORK (Reuters) -A federal judge on Tuesday rejected Pfizer (NYSE:PFE)’s bid to recoup about $75.2 million left over from a U.S. Securities and Exchange Commission insider trading settlement with billionaire Steven A. Cohen’s former hedge fund SAC Capital Management.U.S. District Judge Victor Marrero in Manhattan said Wyeth, a drugmaker Pfizer bought in 2009, did not qualify as a victim of the securities violations underlying the SEC case, and therefore was not entitled to the funds.Marrero directed that the money be paid to the U.S. Treasury, which the SEC had requested.Pfizer and its lawyers did not immediately respond to requests for comment.The dispute stemmed from a $602 million civil settlement tied to trading in Wyeth and drugmaker Elan by Mathew Martoma, who worked at an SAC unit and was later convicted, based on a neurologist’s tips about a 2008 Alzheimer’s drug trial.SAC pleaded guilty to fraud in 2013 and paid $1.8 billion in settlements with the SEC and other authorities.The SEC had $75.2 million left over after compensating Wyeth and Elan investors for their losses. Pfizer said it deserved that money because the neurologist, Sidney Gilman, breached a fiduciary duty to Wyeth, where he was a consultant.But the judge said the reputational harm that Wyeth suffered from the scandal did not mean it also suffered financial harm.”The court certainly agrees that corporations whose secrets are misappropriated for insider trading purposes are generally victims of wrongdoing,” he wrote. “But Pfizer has failed to allege how the insider trading scheme and Wyeth’s subsequent reputational harm qualifies as pecuniary harm for purposes of distributing the disgorged funds.”Marrero added that a $7 billion decline in Wyeth’s market value following the drug trial had nothing to do with the insider trading scheme, which became public three years later.Cohen was not criminally charged, but accepted a two-year ban on managing outside money to end an SEC probe into his supervision of Martoma.He changed SAC Capital’s name to Point72 Asset Management in 2014, and stopped trading for that fund in September. Cohen is worth $21.3 billion according to Forbes magazine.The case is SEC v CR Intrinsic Investors LLC et al, U.S. District Court, Southern District of New York, No. 12-08466. More

  • 100 Shares189 Views

    in Economy

    China leaves lending benchmark LPRs unchanged, as expected

    The one-year loan prime rate (LPR) was kept at 3.1%, and the five-year LPR was unchanged at 3.6%.In a Reuters survey of 28 market participants conducted this week, all respondents expected the rates to stay unchanged.Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. More

  • 125 Shares179 Views

    in Economy

    China leaves loan prime rate unchanged amid stimulus, tariff watch

    The PBOC kept its one-year LPR at 3.10% after cutting it by 25 basis points in October. The five-year LPR, which determines mortgage rates, was left at 3.60% after a 25 bps cut in the prior month.The LPR is determined by the PBOC based on considerations from 18 designated commercial banks, and is used as a benchmark for lending rates in the country.Analysts had widely expected the LPR to remain unchanged this month, with Beijing seen awaiting more clarity on what a second Donald Trump presidency will entail for Sino-U.S. trade before unlocking more economic support.China rolled out a slew of aggressive stimulus measures since late September to support growth. But the country held off on outlining more targeted fiscal measures, amid caution over increased trade tariffs under Trump, who has vowed to impose a 60% import tariff on all Chinese goods.The PBOC was also seen as having limited space to cut interest rates further, especially as the Chinese yuan was battered following Trump’s election. The central bank had steadily cut the LPR further into record-low territory over the past two years to support growth.But monetary measures have so far provided limited support to the Chinese economy, which is still struggling with persistent deflation and a property market slump. More

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    in Economy

    Alibaba prices $5 billion dual currency bond deal

    The company priced an offering of $2.65 billion aggregate principal amount of U.S. dollar-denominated notes and RMB 17 billion ($2.35 billion) worth of offshore yuan-denominated notes. The offering of the dollar notes is expected to close on Nov. 26, while that of the yuan notes will close on Nov. 28, subject to conditions, the company said in a statement. Reuters had earlier reported that the U.S. dollar tranche would consist of 5-1/2-year, 10-1/2-year and 30-year bonds, citing a term sheet. The report said Alibaba was also working on 3-1/2-year, 5-year, 10-year and 20-year offshore yuan tranche. Alibaba intends to use the net proceeds from the offering of the notes for general corporate purposes, including repayment of offshore debt and share repurchases.($1 = 7.2385 Chinese yuan renminbi) More