Category Archive : Bitcoin

Dow Jones Futures: Apple Leads Market Rally As Bitcoin, Tesla Near Highs; Netflix Subscribers Top Views

Dow Jones futures were little changed Tuesday night, along with S&P 500 futures and Nasdaq futures, with Netflix earnings in focus. The stock market rally continued to move toward record highs Tuesday even as Treasury yields hit fresh highs. Apple (AAPL) helped lead the broad advance, while Bitcoin neared record highs as a Bitcoin futures ETF debuted.


Netflix (NFLX), Intuitive Surgical (ISRG) and United Airlines (UAL) reported earnings after the close. Chip-equipment giant ASML (ASML) reports earnings very early Wednesday, with peer Lam Research (LRCX) after the close.

NFLX stock fell slightly despite Netflix subscriber growth and guidance beating forecasts. ISRG stock dipped after the robotic-surgical systems maker narrowly topped views.

ASML stock rose 1.6% on Tuesday, closing in on its 50-day line as it works on a new consolidation.

Tesla Earnings Loom

Meanwhile, Tesla (TSLA) is on tap late Wednesday after it reported record third-quarter deliveries earlier this month. TSLA stock fell 0.7% to 864.27 on Tuesday, snapping a six-session win streak. The EV giant is nearing record highs, extended from earlier buy points as it works on its ninth straight weekly gain….


Look At Mark Cuban Bitcoin Discussion

As with many good stories, it starts with a Twitter thread.

Anthony Pompliano kicked things off by summarizing an article by Avik Roy.

Mark Cuban, owner of the Dallas Mavericks, investor of Shark Tank fame (and who was pitched sub-$300 bitcoin by Michael “Bitstein” Goldstein in 2015 at SXSW) somewhat caustically responded:


Bitcoin and Crypto on the Verge of Hitting the Best Part of Bull Cycle, Says Macro Guru Raoul Pal – Here’s Why

Macro investor and former Goldman Sachs executive Raoul Pal says Bitcoin and crypto are on the cusp of entering the part of the bull cycle where the markets trend higher.

In a new Crypto Banter episode, the macro guru says the digital asset markets are ready to move higher after a brutal corrective period in the last few months.


“We are in the teeth of the best part of the entire cycle. The price is going to go up regardless. We threw all the FUD (fear, uncertainty and doubt) at it over the summer. That was the 50% correction. Basically, the market’s been trading sideways in a volatile range since March for Bitcoin and May for the rest of the market. This is the point. If you look at all of the post-halving cycles, this quarter is where all the games are made.”

Pal also says he’s looking at a major catalyst that can push the crypto markets to greater heights next year.

“The big factor that people need to think about is how institutions allocate. It’s quarterly, and it’s annual. So we will see [in] this bull run everybody who hasn’t yet invested or wants to increase their weightings, that will come in jam and generally, every one with new shiny P and…


Stocks rise for a fifth day, and Bitcoin nears a record high.

U.S. stocks rose on Tuesday, with the S&P 500 gaining 0.7 percent. The benchmark index marked its fifth-consecutive day of gains and is up more than 5 percent since its Oct. 4 low after a slide in September.

The gains mean the S&P 500 is approaching record territory again, now within 0.4 percent of the closing high it reached in early September.

Cryptocurrency prices rose, with Bitcoin touching $64,300, according to CoinDesk. On Tuesday, ProShares offered a long-awaited exchange-traded fund on the New York Stock Exchange linked to Bitcoin futures, and Bitcoin has been trading at prices not seen since April, when it briefly traded above $64,800.

Tuesday’s gains came as several high-profile corporate earnings reports came in stronger than expected.

Johnson & Johnson reported that sales grew 10.7 percent to more than $23 billion in the third quarter compared with the same period last year. Shares of the pharmaceutical manufacturer rose 2.4 percent.

Procter & Gamble stock fell about 1.2 percent after the company reported it experienced higher commodity and freight costs during the three months ending in September.

Stock investors shook off commentary from a Federal Reserve official,…


Bitcoin Prices Flirt With All-Time High After ProShares ETF Goes Live

Bitcoin prices rallied today, coming within a single percentage point of reaching the all-time high they set early this year.

The digital currency rose to as much as $64,309.33 this afternoon, CoinDesk data showed.

At this point, the cryptocurrency was trading less than 1% below the all-time high of $64,888.99 it reached in April, additional CoinDesk figures show.

The digital asset enjoyed these gains the same day that The ProShares Bitcoin Strategy ETF, the first such fund available in the U.S., started trading on The New York Stock Exchange.

Some analysts have criticized the aforementioned exchange-traded fund, noting that it is not a spot-based ETF and is instead linked to futures contracts.

One article, written by a MarketWatch editor named Mark DeCambre, went so far as to describe this fund as “an inferior futures product,” citing the input of registered investment advisers.

However, other market observers have taken a more optimistic slant, interpreting the listing of this ETF as a bullish development.


Marqeta Stock Pops On New Bitcoin, Crypto Card Issuing Services

Marqeta stock climbed Tuesday after it rolled out a new debit and credit card-issuing services aimed at Bitcoin and other digital cryptocurrencies. Marqeta (MQ) said it’s working with Coinbase Global (COIN) and others to make it easier for cryptocurrency owners to buy things with Bitcoin.


Shares in Marqeta popped 8% to 24.82 in afternoon trading on the stock market today. MQ stock is one of many financial technology stocks to watch.

Through Marqeta, Coinbase plans to offer a Visa debit card allowing users to spend their cryptocurrency balances at any establishment that accepts Visa debit cards. In addition, users will earn additional crypto rewards on eligible purchases.

In addition to Coinbase, Marqeta said it works with crypto firms Bakkt, Fold and Shakepay.

Marqeta Stock: Square Biggest Customer

Marqeta’s primary customers include Square (SQ), Instacart, and DoorDash (DASH). Its payment platform enables customers to issue physical and virtual credit and debit cards.

Marqeta’s technology authorizes and settles transactions. Oakland, Calif.-based Marqeta earns volume-related fees generated with card use and processed transactions.

Marqeta launched its initial public…


Demand Spike on Binance Played Key Role in Bitcoin Rally: Kaiko

Bitcoin’s steady march to near-all time highs came as traders correctly anticipated that the U.S. Securities and Exchange Commission (SEC) would approve futures-based exchange-traded funds (ETFs). But instead of it being a collective effort by both retail and institutional investors across multiple platforms, crypto exchange data shows that a large investor or investors on one particular exchange, using mostly a particular dollar-pegged stablecoin, are once again the main factor behind a rally.

An Oct. 18 newsletter by data firm Kaiko indicates that bitcoin’s recent gains took off after the BTC/USDT spot trading pair’s volume spiked around Oct. 10 on Binance, one of the world’s largest exchanges. The spike took place just a few days after one buyer or a group of buyers entered an order on Binance on Oct. 6 to buy $1.6 billion worth of bitcoin, which sent bitcoin’s price skyrocketing 5% to about $55,500 at the time.

The finding supports the narrative that whales (large bitcoin investors) on Binance continued to purchase large amounts of bitcoin using dollar-pegged stablecoin USDT, without worrying about moving bitcoin’s price up sharply.

A breakdown of ‘abnormal’…


Bitcoin rises back toward record as first related U.S. ETF begins trading

In this photo illustration a Bitcoin logo seen displayed on a smartphone with stock market percentages in the background.

Omar Marques | SOPA Images | LightRocket | Getty Images

The price of bitcoin hovered just below its all-time high on Tuesday, continuing an almost one-month rally at least partly driven by enthusiasm around the launch of a bitcoin futures ETF this week.

Bitcoin added almost 2% to reach $62,573, according to Coin Metrics. On Tuesday morning the ProShares bitcoin-linked exchange-traded fund made its debut on the New York Stock Exchange. Bitcoin briefly popped after trading began, jumping to a high of $63,232, its highest level in six months. Bitcoin notched an all-time high on April 14 when it reached $64,899.

The ProShares ETF is the first bitcoin ETF to trade in the U.S. on a regulated exchange and comes after many years of the cryptocurrency industry hoping to get one launched to provide investors easy and safe access to bitcoin exposure. The ETF, which tracks CME bitcoin futures, rose more than 2% as it debuted in morning trading.

A breakout to new all-time highs would be a positive long-term development targeting $89,800, according to Fairlead Strategies’…


Dow Jones Rallies As Bitcoin ETF Debuts; 4 Stocks To Buy And Watch

The Dow Jones Industrial Average rallied 100 points Tuesday, as the first Bitcoin exchange-traded fund debuted. Tesla stock is approaching all-time highs, while tech stocks to buy and watch are Alphabet, AMD, Microsoft and Nvidia.


Among the Dow Jones leaders, Apple (AAPL) rallied 0.3% Tuesday, while Microsoft (MSFT) moved up 0.1% in today’s stock market. American Express (AXP), Goldman Sachs (GS) and JPMorgan Chase (JPM) eyed new buy points in the current rally.

Dow Jones stocks Johnson & Johnson (JNJ), Procter & Gamble (PG) and Travelers Companies (TRV) reported earnings Tuesday morning.

Tesla (TSLA) gained 0.5% Tuesday, on pace to extend a win streak to seven sessions. The electric vehicle giant is approaching record highs.

Among the top stocks to buy and watch, Advanced Micro Devices (AMD), Alphabet (GOOGL), CrowdStrike (CRWD) and Nvidia (NVDA) are in or near new buy zones.

Advanced Micro Devices, Microsoft and Tesla are IBD Leaderboard stocks. AMD featured in this week’s Stocks Near A Buy Zone story. CrowdStrike was featured in last week’s IPO Leaders column. Nvidia is an IBD SwingTrader stock.

Dow Jones Today: Bitcoin ETF Debuts

After the stock market open…


RockItCoin Donates $10,000 in Bitcoin to PAWS Chicago

Published: Oct. 19, 2021 at 6:00 AM CDT|Updated: 1 hour ago

CHICAGO, Oct. 19, 2021 /PRNewswire/ — RockItCoin, one of America’s largest bitcoin ATM operation networks, has donated $10,000 of bitcoin (BTC) to PAWS Chicago, one of the largest No Kill animal shelters in the country and rated four-stars by Charity Navigator for the last 19 years. In an effort to provide easy access to cryptocurrency and assist forward-thinking organizations in meeting their fundraising goals, RockItCoin CEO Michael Dalesandro noted the following when PAWS Chicago recently began accepting cryptocurrency donations:


“As a Chicago-based organization, our team is well aware of the amazing work that PAWS Chicago has done over the years to help the local animal community and we’re excited to support them through their innovative cryptocurrency initiative. Crypto provides so many innovative ways to do good and being able to donate to help homeless pets is a perfect example of that.”

Unlike many traditional giving methods, the $10,000 BTC transaction was completed in minutes. PAWS Chicago allows donors to provide financial support via crypto directly through their website and…


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