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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,…
Bitcoin's dominance and technical indicators suggested that it may be time for swing traders to turn their attention to altcoins. Relative strength to BTC is an important factor along with long-term support zones for evaluating underperforming altcoins. Bitcoin [BTC] It was trading within a range. Short-term bearish bias has made Bitcoin and other crypto markets unattractive for long-term investors. It could take weeks for the market to stabilize, especially considering the huge rally in the months leading up to the halving. This could be a buying opportunity for altcoins that have shown strength. Check out recent BTC resets Source: CryptoQuant…
Next article Bitcoin market capitalization is currently $1.244 trillion What's the story? Bitcoin is trading at $63,124.87, up 1.29% in the past 24 hours. It was down 5.15% compared to last week. Ethereum, the second most popular token, is trading at $3,161.77, down 1% since yesterday. Compared to the previous week, it fell by 0.76%. The market caps of Bitcoin and Ethereum currently stand at $1.244 trillion and $386.2 billion, respectively. How did other prominent cryptocurrencies perform today? BNB is trading at $597.49, up 0.72% from yesterday and 1.31% from last week. Currently, XRP price is $0.55 and has increased…
Quarterly national economic reports for the eurozone and other major eurozone economies are due to be released on Tuesday, capping a busy day for European economic news. At 1:30 a.m. Eastern Time, French statistics agency INSEE is scheduled to release preliminary figures for GDP and personal consumption expenditure. second largest euro area economy The company is expected to grow 0.1% sequentially in the first quarter, which is the same pace as the fourth quarter. Destatis will release German retail sales, import prices and ILO unemployment data at 2 a.m. ET. Import prices are expected to fall at an annual rate…
important eventsShow only major eventsPlease turn on JavaScript to use this featureToday's economic indicators outside the euro area reportedly show an improvement in the situation. Daniele Antonucci chief investment officer Quintet Private Bank: Looking at year-over-year changes, Beat vs. Consensus has outperformed forecasters' highest predictions in major polls. This is a telling story, especially after the shallow recession the region experienced in the second half of last year, but it must be noted that consumer spending in many European countries remains very weak. The glass-half-empty story is that the pace of growth remains fairly anemic, as forward-looking indicators suggest that…
important eventsShow only major eventsPlease turn on JavaScript to use this featureSpain's economy expands by 0.7%, faster than expectedJUST IN: Spain's economy grew faster than expected.Spanish GDP rose 0.7% in the first quarter of this year, new data from statistical agency INS Indicated.This is significantly faster than the 0.4% growth that economists had expected, and is an encouraging sign, especially after France grew faster than expected (see previous post).INS also revised Spain's growth rate upward for the fourth quarter of 2023 from 0.6% to 0.7%.Spain's economy grew by 2.4% on an annual basis, but this was mainly due to “domestic…