Top Analyst Turns Bearish on Tech Stocks and Crypto Ahead of Bitcoin Halving 2024
Bitcoin price has struggled to rally beyond $72K despite its dominance against altcoins rallying further against all odds.
Bitcoin price has struggled to rally beyond $72K despite its dominance against altcoins rallying further against all odds.
This resurgence in Bitcoin price is partially credited to the uptick in holdings among whale wallets containing over 1,000 Bitcoins.
The stock market reacted negatively to the Fed Chair’s comment indicating that the apex bank was uninterested in rate cuts until after March.
While all three major indexes rose, the S&P 500 hit a new record barely a week after setting a previous one.
The Dow has hit a new record, while other indexes also increased, as traders believe the Fed will leave interest rates unchanged.
The three major indexes, the S&P 500, the Dow, and the Nasdaq are enjoying a continued rally as the market hopes for rate cuts.
There was a general rise in the Dow, S&P 500 and Nasdaq Composite indexes following hints that the Fed policy would favor the general market.
With yesterday’s historic high, the Dow Jones extends its Q4 rally to more than 10%. On the other hand, the technology sector also makes a fresh all-time high.
The gains have come while traders await the conclusion of the final Fed meeting of 2023.
Stock futures are mixed after the Dow Jones Industrial Average closed its best month in more than a year.