On August 5, 2024, financial markets across the globe experienced a significant downturn, now referred to as “Black Monday.” The Nikkei 225 index, along with other major market indices such as the S&P 500, GOLD, and EU50, recorded steep declines, sending shockwaves through the investment community. This article delves into the sequence of events that…
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On August 7, prominent trader and macro-economist Alex Krüger shared valuable advice for new traders on the social media platform X (formerly Twitter). His insights apply to both stock and cryptocurrency markets. Let’s break down his advice, explaining key concepts along the way. 1. The Power of Contrarian Trading Krüger highlights the potential profitability of…
TL;DR Shiba Inu (SHIB) surged 20% on August 6, with significant increases in transaction volume and burn rate. The overall meme coin niche rebounded, with its market capitalization rising above $40 billion amid notable gains from Dogecoin, Pepe, and Bonk Inu. SHIB Metrics Explode The popular meme coin Shiba Inu was among the best-performing cryptocurrencies…
Brandt noted in an X post on August 5 that the recent Bitcoin price decline post-halving follows a similar pattern ahead of the 2016 bull run. The analyst compared the depth of market corrections since the halving dates, highlighting how in 2016, BTC dropped 26% within a month before surging to new ATHs. A similar…
Despite the global markets plunging, crypto ETFs continue to perform admirably – especially Down Under. The success of spot Bitcoin ETFs in particular has investors salivating at the prospect of more coins being converted to traditional financial products. However, experts among the community believe that approval for tokens like SOL and ADA is far-fetched, due…
As Kamala Harris campaigns for the presidency following President Joe Biden’s decision not to run, her stance on crypto remains unclear, though recent appointments hint at a potential shift towards a more favorable approach. Harris has tapped David Plouffe, a former Obama aide and previous member of the Binance Global Advisory Board, as her senior…
In another stimulus to the global equity market, the Bank of Japan’s governor Shinichi Uchida said that the central bank might consider pausing its interest rate hike decision from last week if they see major instability in the markets. The Nikkei 225 Index surged by another 2.5% on Wednesday shooting past 35,000 levels. Besides, the…
Forex trading is deeply affected by the spread, a key yet often missed concept. Knowing about the spread, especially the bid ask spread, is vital for traders. It helps them move through the forex market smoothly. Spreads affect the cost of trading currencies and can change a trader’s profits. This section looks at how spreads…
BlackRock’s iShares Ethereum Trust, known also as ETHA, has almost hit $900 million in total inflows after just 11 trading days. BlackRock’s spot Ether exchange-traded fund saw $109.9 million in inflows on Aug. 6 — bringing its total inflows to $869.8 million since its launch on July 23. According to Farside Investors, it marked the…