The Federal Reserve chairman acknowledged the surge in the US Treasury bond yields but didn’t suggest any action to keep the long-term yields under check.
While the OPEC countries are keen on keeping the production output for oil low, Russia, Iran, and UAE have hinted at boosting production during the same time. Saudi is keenly watching all the developments with detailed attention.
UBS analyst also highlighted that “Tesla has the potential to become one of the most valuable software companies.”
The 21st-century art enthusiasts are stashing physical artwork and converting them into digital collectibles in the forms of blockchain-based NFTs that are further auctioned for millions of dollars.
There may be an end to the recent pullback if Bitcoin stays above $50K. Analysts are predicting a new high above $58,000.
The US stock market is perhaps responding to a 1.41% drop in the 10-Year Treasury rate, a major focus point for equity investors.
Goldman Sachs first launched a cryptocurrency trading desk back in 2018. However, at that time, Bitcoin’s price was plunging, which did not encourage interest in the currency at all.
On Monday, the broader markets gained with bond yields falling from last week’s high and bringing optimism back to Wall Street. Stocks across tech, aviation, energy, and electric-vehicle sectors gained properly.
Stock markets worldwide reacted positively to the drop in the 10-year US Treasury Yield as well as the $1.9 trillion stimulus package approved by the House.
Several financial platforms offer price information of some leading cryptos, but this addition indicates a growing adoption of the market beyond the retail interest.
The current Bitcoin price correction has affected almost the entire altcoin market that has been trapped in a similar correction phase.
Analysts of JPMorgan highlighted the evaporating liquid supply as multi-billion dollar institutions and corporations are buying substantial quantities at a fast rate.
In the S-1 filing, Coinbase has made crucial disclosures to the public with its plans of launching direct stock listing on Nasdaq. As per its recent valuations, Coinbase pegs a value of over $100 billion.
Shortly after Klarna CEO Sebastian Siemiatkowski expressed his concern over tweets promoting Bitcoin, reports revealed that the SEC is investigating Musk over DOGE tweets.
Overlooking the fears of inflation and rising interest rates, the stock market registered bullish momentum on the outlook of quick economic recovery. Fed Chairman Jerome Powell has said that it will take a long time for inflation to pick up.