Share to Twitter Share to Linkedin Topline Investors piled out of cryptocurrency investment funds at a record pace last week after bitcoin plummeted to its lowest level in 18 months, crypto asset management firm CoinShares reported Monday, highlighting the bearishness that's come to a head this month as markets grapple with the Federal Reserve's reversal of pandemic-era stimulus measures. Key Facts Cryptocurrency funds posted net outflows of $423 million last week, eclipsing the prior record of $198 million set as crypto markets tumbled in January and bringing total assets down to $36.2 billion, according to a Monday report by CoinShares. Cash transferred out of bitcoin funds drove the record activity, with net outflows of $453 million—virtually erasing all inflows this year and pushing assets in such funds down to $24.5 billion, the lowest level since the beginning of last year, CoinShares reported. CoinShares' James Butterfill notes … [Read more...] about Crypto Funds Post Record $423 Million Outflows As Bitcoin Plunge Rattles Market
Market crash vs bear market
Share to Twitter Share to Linkedin Topline The Federal Reserve’s “heightened sensitivity” to rising inflation expectations could be triggered by a barrage of political ad campaigns that are expected to highlight surging consumer prices ahead of the midterm elections in November, analysts at Goldman Sachs warned on Friday, adding that the central bank may feel “compelled” to keep hiking rates aggressively. Key Facts With the midterm elections looming in November, surging consumer prices will be a major issue for voters—especially as long-term inflation expectations have surged in recent months, according to the latest consumer sentiment survey released by the University of Michigan on Friday. Meanwhile, the Federal Reserve watches long-term inflation expectations closely, and used it in its decision earlier this month to raise interest rates by 75 basis points—the largest increase since 1994. The central bank’s “strong reaction” to the … [Read more...] about Political Ads Targeting Inflation Ahead Of Midterm Elections Could Force The Fed To Keep Hiking Rates: Goldman Sachs
Dear Reader, The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of. Volatility, uncertainty, and unpredictability have been go-to words for writers and analysts tasked with writing about markets in the past few years. That’s not changed despite the market taking a bearish turn. Just a while ago, it seemed like the mother of all bloodbaths was just around the corner. No, what you saw was a mere prelude, they said. But the markets are on a different trip now. At 12.45 pm, the Sensex was up 1.2 percent above Friday’s close and 4 percent above its recent low made in mid-June. What is this, a bear market rally and how many dead cats will bounce before none are left? Can somebody call the bottom already? Close This time, the white flag waved by the bears has the “we … [Read more...] about Moneycontrol Pro Panorama | Can somebody call the bottom already?
- A + A (June 27): The wipeout in Bitcoin may have run its course, a range of technical indicators suggest. Momentum measures and insights from options bets signal ebbing selling pressure and a possible trading range of US$20,000 to US$25,000 — though the usual caveats apply about the mercurial nature of cryptocurrencies. The largest digital token has slumped about 70% from a November record and was little changed at US$21,343 as of 8:38 a.m. Monday in London. It slid below US$18,000 earlier this month, before retaking the closely watched US$20,000 level. Tightening monetary policy, withering speculative ardor and collapsing digital-asset projects have spurred a broad crypto rout in 2022. But the mood in global markets is turning less dour on tentative hopes that the price pressures driving interest-rate hikes may be cresting. The lessons of Bitcoin’s past swoons suggest it’s in the vicinity of its bear-market low, according to Glassnode. This “bear market is now … [Read more...] about Bruised bitcoin due relief after crypto wipeout, charts show
- A + A PUTRAJAYA (June 27): The government is willing to bear the projected huge subsidy totalling RM77.3 billion for this year towards stabilising the prices of goods and avoiding high inflation rates of up to 11.4%, says Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed. He said the government had a choice of removing subsidies and strengthening the country’s finances to a better level, but it chose to bear the subsidies instead for the welfare and well-being of the people. Mustapa said the announcement on June 24 by Prime Minister Datuk Seri Ismail Sabri Yaakob of no increase in the water and electricity tariffs, and the chicken price not being floated showed the government’s caring side and commitment to maintaining the subsidies. Referring to the projected consumer subsidy expenditure amounting to RM77.3 billion for 2022, he said RM51 billion of it made up the biggest component of fuel, cooking oil, electricity, water, chicken … [Read more...] about Govt continues giving subsidies to stabilise prices, avoid high inflation
- A + A NEW YORK/BENGALURU (June 27): Wall Street's main indexes fell after opening higher on Monday, as a rally last week on easing concerns over inflation lost steam, with high-growth stocks leading declines. "We had a nice rally last week, so I think we're seeing a little bit of profit taking this morning," said Dennis Dick, a proprietary trader at Bright Trading LLC in Las Vegas. "The stocks that were up the most last week are the ones getting hit the hardest here today." The tech-heavy Nasdaq Composite index, which gained 7.5% last week, fell 0.7% to lead declines among the three major indexes. Investors were betting on the retreat in oil prices from the three-month highs hit in June to potentially ease inflationary pressures and likely push the Federal Reserve to moderate its aggressive policy tightening. However, data on Monday showed new orders for US-made capital goods and shipments increased solidly in May, pointing to sustained strength in business … [Read more...] about Wall Street sheds opening gains on losses in high-growth stocks
Share to Twitter Share to Linkedin By Nathan Resnick Sending out a press release is a great way to get significant attention for your company. While the majority of journalists use press releases as a source for news, standing out in today’s digital environment can be difficult. Some news outlets receive hundreds of press releases in a single day—so it shouldn’t be surprising that 70% of journalists spend less than a minute reading each one. You don’t have much time to make an impression and get that coveted press coverage for your brand. Putting in some extra work to make sure the press release will be a smashing success before you send it out can make all the difference. What makes a great press release? 1. Your content is truly newsworthy This is the first big test: Is the topic of your press release actually newsworthy? Is it something that journalists—and the wider audience they serve—will care about? In many ways, … [Read more...] about 4 Signs Your Latest Press Release Will Be A Success