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Analysts claim that ETH will outperform BTC in the crypto summer. US liquidity injection could boost the market in the second half of 2024. Ethereum [ETH] It may exceed Bitcoin [BTC] The summer of virtual currency is slowly approaching. This bold prediction was made by Raul Pal, founder of Real Vision and a leading commentator on the crypto market. In the X post, Pal emphasized that the summer of cryptocurrencies is the season for altcoins, where attention shifts from Bitcoin to other things.Some of his posts read, “Summer in crypto is usually the start of alt season, and in the…

Here's what you need to know on Tuesday, April 30th. After a volatile start to the week, financial markets remained relatively quiet early Tuesday. The first quarter gross domestic product (GDP) data for the euro zone and Germany will be closely watched. Eurostat will also release preliminary figures for the Harmonized Consumer Price Index (HICP) for April. U.S. economic data will feature housing data as the Federal Reserve begins its two-day meeting. The US dollar (USD) weakened against its major rivals on Monday, with the USD index ending the day in negative territory. In Europe, the index recovered towards 106.00.…

Bitcoin fell more than 16% in April, entering its worst month since November 2022.Ledn CIO said BTC could fall to the mid-to-low $50,000 region.ETF analysts at Bloomberg Intelligence noted that the debut of the Hong Kong Spot Cryptocurrency ETF was not as bad as expected.Bitcoin (BTC) dipped below $60,000 after a weak Hong Kong spot ETF debut, calling the cryptocurrency correction a bear market on Tuesday as interest rate concerns gave traders enough reason to sell. Maybe the time has come.Bitcoin hit an afternoon low of $59,100, its lowest since late February and has fallen more than 5% in the…

Eurozone escapes recessionNEWSFLASH: The eurozone has escaped recession, and beaten forecasts for growth at the start of this year.GDP across the eurozone expanded by 0.3% in January-March, statistics body Eurostat reports.This means the eurozone’s shallow recession is over – its GDP shrank by 0.1% in both the third and fourth quarters of last year, which was a technical recession.Eurozone growth has been held back by high interest rates, as the European Central Bank has battled inflation, while the cost of living crisis hit consumer spending.Euro area GDP was lifted by stronger-than-expected growth in Germany, France, Italy and Spain (as we’ve…

The euro fell slightly on Tuesday. In North American trading, EUR/USD was trading 0.17% lower at 1.0703. Eurozone GDP rises, inflation falls In the first quarter, the euro area economy grew by 0.3% compared to the previous quarter, the highest growth rate since the third quarter of 2022. This follows flatness in the fourth quarter of 2022 and exceeded market expectations of 0.1%. On an annualized basis, the economic growth rate was 0.4%, up from 0.1% in the fourth quarter of 2022 and higher than market expectations of 0.2%. Germany, the eurozone's largest economy, saw its GDP increase by 0.2%…

Data showed that the euro zone economy emerged from recession and the euro appreciated (Kiril Kudryavtsev)Eurozone stocks fell on Tuesday, weighed down by a strong euro as investors digested positive economic news, while Wall Street stocks fell on disappointing data.Frankfurt and Paris stocks fell, but the euro rose against the dollar after data showed the euro zone economy emerged from recession as inflation came under control in the first quarter. The euro then gave up its rise and began to fall.Meanwhile, the London market soared to a new high of 8,199.95 points, and HSBC soared more than 4% on a…

Bitcoin has fallen more than 16% in April, on track to be its worst month since November 2022.Ledn CIO said BTC could fall to the mid-to-low $50,000 range.Bloomberg Intelligence ETF analysts noted that the debut of Hong Kong's spot cryptocurrency ETF was not as bad as expected.It may be time to call the cryptocurrency correction a bear market after a lackluster debut for a Hong Kong spot ETF on Tuesday and interest rate concerns gave traders plenty of reason to sell, sending Bitcoin (BTC) below $60,000.BTC hit an afternoon low of $59,100, its lowest since late February, down more than…

The euro area's mild technical recession ended with GDP shrinking 0.1% in both the third and fourth quarters of last year. (Sipah US, Sipah US)The euro zone beat growth expectations at the start of the year and helped avoid recession, with the single currency bloc's overall gross domestic product expanding 0.3% in the first three months of the year, statistics agency Eurostat said on Tuesday.This marks the end of the euro zone's shallow technical recession after GDP fell 0.1% in both the third and fourth quarters of last year.It also saw the euro area's strongest quarterly growth since the third…

Abra co-founder and CEO Bill Barhydt predicts that one major catalyst could see the market capitalization of digital assets reach $50 trillion within 10 years. Anthony Pompliano, head of a crypto asset management platform, said in a new interview that the tokenization of real-world assets (RWAs) could see the crypto market cap soar by more than 1,900% from its current value. “I think we'll see investment services emerge, especially outside the US, where real world assets will be tokenized and essentially make all assets fungible, meaning you can hold real estate, stocks, bonds, native cryptocurrencies, and they're all tokens that…

Business intelligence company MicroStrategy continues to grow its Bitcoin stash, recently purchasing 122 BTC for nearly $8 million. In 2024 alone, the Nasdaq-listed giant purchased over 25,000 BTC of his. The company, which remains the world's largest corporate holder of Bitcoin, also reported a net loss and a decline in revenue in the first quarter of 2024. MicroStrategy revealed in its Q1 2024 financial results that after acquiring 122 BTC in April for $7.8 million, the company took advantage of the selloff to increase its Bitcoin holdings to 214,400. While this is a small acquisition compared to previous BTC acquisitions,…