Bitcoin price took a hit on Monday as concerns over distributions by the now defunct crypto exchange Mt Gox weighed heavily on market sentiment. Despite finding some support around the $57,000 level after hitting four-month lows, Bitcoin fell 0.8% to $57,072.0 in the past 24 hours. The major cryptocurrency market has been rattled by reports
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The soaring demand for air travel this summer has not translated into record profits for U.S. airlines. This discrepancy is casting a shadow over the industry as carriers prepare to report their quarterly results. While some airlines are anticipating record demand and revenue, their profitability is being hampered by rising labor and operational costs. Despite
In early European trade on Monday, the U.S. dollar remained steady as traders awaited key inflation data. The Dollar Index, which tracks the greenback against a basket of other currencies, traded flat at 104.577 after a recent slump. This stabilization followed soft U.S. payrolls data that increased expectations of a Federal Reserve interest rate cut
Asian currencies experienced minimal movement on Monday as the global economic landscape remained uncertain. The dollar, meanwhile, faced significant losses due to mounting expectations of interest rate cuts. The overall sentiment towards Asian currencies was impacted by concerns about a potential trade war between China and the European Union. The Japanese yen strengthened on the
A Bitcoin address known as “1BLoHu” has come back to life after a decade of dormancy, holding 140 BTC valued at over $8 million in today’s market. The address first received the sum back in 2013, when it amounted to approximately $107,000. Interestingly, the initial transaction originating from another address, “1aWmn,” also had a remaining
In the world of investing, Mainland China investors have been closely monitoring the performance of U.S. stocks while expressing disappointment with the lackluster performance of stocks in their own country. Despite the macroeconomic differences between the two markets, the first half of the year has seen many Chinese stocks experiencing substantial growth. In fact, several
Bitcoin historian Pete Rizzo has recently shed light on a statement believed to have been made by the mysterious figure behind Bitcoin, Satoshi Nakamoto, back in 2010. This statement, emphasizing the key principles of decentralization, cryptographic security, and a finite supply, continues to resonate in the world of cryptocurrencies. Rizzo’s reflection on the timeless nature
The surge in demand for artificial intelligence (AI) has propelled semiconductor stocks and technology giants like Nvidia and Amazon to new heights in the stock market. Despite the success of these classic winners, RBC Capital Markets believes that there are alternative ways to capitalize on the growing AI trend. The firm views AI as the
Micron Technology (MU) has recently seen a surge in demand thanks to the ongoing artificial intelligence (AI) wave. Despite some concerns about the softening economy, the company reported strong earnings for the fiscal third quarter. Goldman Sachs analyst Toshiya Hari has reiterated a buy rating on MU stock and increased his price target, citing the
In a surprising turn of events, wallets holding 10,000 Bitcoin (BTC) or more have hit their highest levels of coin accumulation in the past six years. Data from Santiment reveals that these substantial wallets now hold over 3.19 million coins, a peak last seen in November 2018. The recent six-week period has seen these large