Stocks soar, Bitcoin stumbles as Robinhood Wells notice dampens crypto sentiment

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 94 sec. here
  • 32 min. at publisher
  • 📊 Quality Score:
  • News: 142%
  • Publisher: 78%

Kitco News News

Gold,Silver,Platinum

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.) regained support at $64,000 over the weekend.

“For a definitive return to bullish territory, Bitcoin would need to consistently exceed the $66,000 to $67,000 range,” they said. The analysts noted that Bitcoin’s strength over the weekend followed the return of inflows into spot Bitcoin exchange-traded funds on Friday.“U.S.-listed spot ETFs experienced their most substantial single-day inflow in over a week, pulling in $378.3 million, signaling a shift toward more positive market sentiment following Bitcoin's recovery,” they said.

- Although the Federal Reserve has been cryptic regarding the timing of its easing cycle, the central bank is firm that it is not looking to raise interest rates anymore, which should ultimately be positive for gold, according to one market strategist. – Investment bank Goldman Sachs announced on Friday that it has reached an in-principle settlement agreement to resolve an outstanding class action lawsuit filed in 2014 related to the firm’s platinum and palladium trading.

- Central bank demand continues to transform the gold market as official sector purchases increased by a net 16 tonnes in March, according to the latest data from the World Gold Council. - Today's job numbers have significantly missed expectations, indicating a potential shift in the economic landscape that might urge the Federal Reserve to reconsider its interest rate strategy and cut earlier than anticipated.

- Central bank buyers could be less sensitive to higher gold prices, said Aakash Doshi, NAM Head of Commodities Research at Citi.Markets ended the week on a bullish note as Bitcoin rallied above $62,000 while altcoins surged and stocks trended higher. Peter Brandt calls Bitcoin “the trade of a lifetime.”The gold market is spinning its wheels, caught in a stalemate, which could create some profit-taking among investors and weigh on prices in the near term.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cryptos and stocks wobble as inflation fears linger: Bitcoin eyes post-halving rallyThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Trading Game Plan: NASDAQ breakdown, bitcoin warning signs, metals stall, stocks, and crypto trade levelsThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Red Tuesday: Bitcoin falls below $60k, stocks bludgeoned in pan-market selloffThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Bitcoin down, stocks up as investors eye this week’s Fed meetingThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Bitcoin holds above $66k while altcoins trade mixed and stocks spike higherThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »