Day: November 25, 2024

🤹‍♂️🏅MicroStrategy founder Michael Saylor announced the purchase of an additional 55,500 BTC at a rate of ~$97,862. The company now controls 386,700 BTC.

Bernstein experts believe that by the end of 2033 MicroStrategy will have accumulated 4% of the total supply of the first cryptocurrency – 830,000 BTC at a price of $1 million. Other experts, on the contrary, doubted the firm’s Bitcoin strategy. submitted by /u/Yuriy_UK [link] [comments]

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Ethereum Price Forecast: ETH set for 30% rally after overcoming $3,400 resistance

Bloomberg: Ethereum is up over 4% following $62.88 million in ETH futures liquidations in the past 24 hours, per Coinglass data. Liquidated long and short liquidations accounted for $28.17 million and $34.71 million, respectively. ETH retested the $3,400 neckline resistance of a Head-and-Shoulders pattern over the weekend and finally broke above it on Monday. ETH/USDT daily chart If ETH sustains an extended move above the $3,400 resistance, it could surge above its yearly high resistance of $4,093 with a 30% rally to $4,522. To complete such a move, ETH has to overcome the $3,732 key resistance level. The Relative Strength Index (RSI) and Awesome Oscillator (AO) momentum indicators are trending upwards above their neutral levels, indicating rising bullish pressure. A daily candlestick close below the $3,000 psychological level will invalidate the bullish thesis and send ETH to find support at the $2,817 level. submitted by /u/Denchock [link] [comments]

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TKL: Japan and China are dumping US Treasuries

In Q3 2024, Japan sold a net $61.9 billion of Treasuries, the most on record. This was the second consecutive quarter of selling after $40.5 billion in Q2. At the same time, China dumped $51.3 billion, the second largest amount ever recorded. China has now sold Treasuries in 6 out of the last 7 quarters and its total holdings fell below $800 billion for the first time in 16 years. 2 of the world’s biggest foreign holders of US government debt are selling like never before. What’s happening here? submitted by /u/XGramatik [link] [comments]

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EU not close to deal with China on EV tariffs, officials say

European Union and Chinese officials are discussing alternatives to European tariffs on Chinese electric vehicles (EV), including minimum prices at which such cars could be sold in Europe, but no solution is imminent, European officials said on Monday. Bernd Lange, chairman of the European Parliament’s trade committee, told a German broadcaster on Friday that an agreement between the 27-nation EU and China to replace the tariffs with something else was close. But EU officials, who asked not to be named because of the sensitivity of the talks with Beijing said this was not correct, because while the talks were continuing, there were still stumbling blocks that prevented a deal. One of the options under consideration is to set a minimum price on electric cars imported from China to raise their price, which the EU concluded after a long investigation was artificially low because of Chinese state subsides. To address the subsidies, the European Union last month raised tariffs on Chinese-built EVs to as much as 45.3% in its highest-profile trade investigation, a move that has divided Europe and triggered retaliation from Beijing. China’s Chamber of Commerce to the EU at the time said it was profoundly disappointed by the “protectionist” and “arbitrary” EU measure. submitted by /u/Pllover12 [link] [comments]

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GBP/USD Price Forecast: Advances, yet remains below 1.2600

The Pound Sterling advances modestly against the Greenback on Monday, with market participants digesting US President-Elect Donald Trump’s naming of Scott Bessent as Treasury Secretary. Bessent, an advocate for lower taxes and tariffs, was well-received by the markets as risk appetite improved. The GBP/USD trades at 1.2586, up 0.52%. GBP/USD Price Forecast: Technical outlook Despite posting gains, the GBP/USD remains downward biased after slipping below the 200-day Simple Moving Average (SMA) at 1.2818. If buyers want to regain the control, they need to conquer the 1.2600 figure, followed by a clear break of November’s 21 peak at 1.2659, which could exacerbate a rally to 1.2700. On further strength, the 200-day SMA is up next. Meanwhile, bears remain in charge, targeting 1.2550 as the first support level. Once surpassed, they will set their sights on the November 22 low of 1.2486, followed by the year-to-date (YTD) low of 1.2299. Indicators such as the Relative Strength Index (RSI) remain bearishly biased, near oversold territory, and hints the downtrend remains strong. submitted by /u/Denchock [link] [comments]

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US Dollar undergoes fade with markets tempering inflation expectations for Trump’s presidency

Bloomberg: US Dollar Index Technical Analysis: Trump’s pick could have killed of the DXY raly The US Dollar Index (DXY) eased somewhat during the Asian trading session on the back of President-elect Donald Trump’s nomination of Scott Bessent for the Treasury position. A knee-jerk reaction could be taking place as this weakness has been fully erased and might see the DXY advance further. On the upside, 107.35 remains key before looking for any levels above 108.00. The fresh two-year high at 108.07 seen on November 22 is the first level to beat next. Further up, the 109.00 big figure level is the next one in line to look at. The support from October 2023 at 109.36 is certainly a level to watch out for on the topside. Support comes in around 106.52, the double top from May. A touch lower, the pivotal 105.53 (April 11 high) should avoid any downturns towards 104.00. Should the DXY fall all the way towards 104.00, the big figure and the 200-day Simple Moving Average at 103.98 should catch any falling knife formation. submitted by /u/Denchock [link] [comments]

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*Walter Bloomberg: DAILY RECAP

• DA Davidson upgraded Procter & Gamble to Buy, setting a new target of $209 from $160, anticipating stronger organic sales growth. • EU and China nearing a deal on EV tariffs, following the EU’s recent decision to impose up to 45.3% on Chinese electric vehicles. • Anglo American sold its steelmaking coal assets to Peabody Energy for up to $3.775B to prevent a $50B takeover by BHP. • EQT sold minority pipeline stakes to Blackstone for $3.5B to reduce debt from the Equitrans acquisition. • Oneok to acquire EnLink Midstream for $4.3B in stock, converting each EnLink unit not owned by Oneok into 0.1412 Oneok shares. • Trump intends to lift LNG export restrictions and expedite oil and gas permits post-election. • Old National Bancorp to acquire Bremer Financial for $1.40B, offering 4.182 shares plus $26.22 cash per share. • M&T Bank was downgraded to Neutral by Citigroup, while U.S. Bancorp was upgraded to Buy with an improved price target. • UniCredit made a $10B+ bid for Banco BPM, aiming to expand while also eyeing Commerzbank. • BridgeBio got FDA approval for Attruby, a new oral treatment for ATTR-CM, challenging Pfizer’s Vyndaqel. • Merck reported that WINREVAIR successfully met its primary endpoint in a Phase 3 trial for PAH, leading to early trial termination with an offer for continued treatment. • Lattice Semiconductor is contemplating a full acquisition of Intel’s Altera. • Wicked and Gladiator II earned nearly $170M during their opening weekends. • Amazon Web Services introduced Quantum Embark for quantum computing readiness. • Meta’s Threads is losing traction against Bluesky amidst user exodus from X. • Samsung ruled to pay Netlist $118M for patent infringement. • Snowflake stock upgraded by Wedbush to Outperform, target price set at $190. submitted by /u/FXgram_ [link] [comments]

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