Bitcoin Hits $29,000 Following BlackRock, WisdomTree, Invesco ETF Filings
Bitcoin’s price hit $29,000 amid a flurry of exchange traded fund (ETF) applications in the United States and newfound institutional interest in facilitating crypto trading. The launch of EDX markets on Tuesday, a crypto exchange backed by Fidelity, Charles Schwab and Citadel Securities also appears to have strengthen the bullish momentum. EDX currently supports four cryptocurrencies in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). Source: Decrypt
Siemens is approaching support zone 156-160
Siemens (SIE GY) is retesting the recent breakout zone 156-160. That level was a resistance was tested several times since 2021 and is now a support. Keep an eye if it can hold ? Source : Bloomberg
US real average hourly earnings turn positive again
US wages outpaced inflation on a YoY basis in May by 0.2%, ending the ignominious streak of 25 consecutive months of negative real wage growth. Source: Charlie Bilello
Nasdaq China Tech Index suffered heavy selling today, dropping almost 5%
The catalyst appears to be disappointment that China’s stimulus measures aren’t aggressive enough and the LPR cuts this week have been underwhelming. Source: HolgerZ, Bloomberg
UK inflation stays stuck at 8.7% while economists had expected a decline to 8.4%.
Source: HolgerZ, Bloomberg
Goldman joins Wall St banks in cutting China’s growth outlook as post-Covid bounce fades.
Goldman Sachs cut its 2023 GDP forecast from 6% to 5.4%, citing a slew of macroeconomic issues. Latest Goldman revision follows likes of UBS, BofA, JPMorgan, & Nomura. Source: HolgerZ, Bloomberg
Bitcoin’s whales have accumulated 131.6 BTC in the past 11 weeks
Bitcoin's whales have been busy while the crowd watched prices dwindle these past two months. Wallets holding 1K to 10K $BTC have accumulated a combined $3.5B since the first week of April. Source: Santiment
Yen pressure mounts with Trade-Weighted gauge at two-decade low
Source: Bloomberg
