Bitcoin Just Couldn’t Break $100,000
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NEWS
Bitcoin Just Couldn’t Break $100,000
Source: Tenor.com
It was a slower day in the equity market, with bulls continuing to press their bets into the slow holiday week. Meanwhile, everyone had Bitcoin’s price open in the background, anxiously awaiting the $100,000 milestone to be broken. As of writing this, prices have petered out $150 away from the level…leaving us all sleeping with one eye open this weekend. 👀
Today’s issue covers Bitcoin breaking bulls and bears’ hearts, noteworthy pops and drops, and the latest “Weekend Rip With Ben & Emil.” 📰
Here’s the S&P 500 heatmap. 9 of 11 sectors closed green, with consumer discretionary (+1.43%) leading and utilities (-0.55%) lagging.
Source: Finviz.com
And here are the closing prices:
|
S&P 500 |
5,969 |
+0.35% |
|
Nasdaq |
19,004 |
+0.16% |
|
Russell 2000 |
2,407 |
+1.80% |
|
Dow Jones |
44,297 |
+0.97% |
Most bullish/bearish symbols on Stocktwits at the close: 📈 $QMCO, $REPL, $CPRT, $QBTS, $MTC 📉 $ROST, $DE, $LAZR, $AMIX, $BTDR*
*If you’re a business and want to access this data via our API, email us.
CRYPTO
What A Letdown… 😐️
Those hoping for fireworks from Bitcoin were left disappointed over the last few days, but altcoin traders are having an absolute blast. Cardano, Stellar Lumens, Avalanche, Internet Computer, Hedera Hash, Ripple, you name it, it’s trending on Stocktwits. 😵💫
Meanwhile, under the surface, crypto-linked equities continued their recent run. Bitcoin miners finally caught a meaningful bid, while MicroStrategy copycats like Semler Scientific cooled off following a rapid advance over the last few days.
Outside of the crypto space, Quantum Computing stocks have caught fire. Amazon Web Services announced Quantum Embark, a new program designed to accelerate customer readiness for the quantum era. Our “Chart Art” newsletter outlines some of these movers and how the Stocktwits community is playing them. 🧐
Source: Stocktwits.com
Despite some rabid speculative behavior, equity markets acted as they should in a bull market. The equal-weight S&P 500 ($RSP) made a new all-time high, showing continued breadth and participation from various sectors and industries. 📈
When Bitcoin finally cracks its latest ceiling, many expect the bull run across risk assets to continue. With markets heading into a lower-volume Thanksgiving week, animal spirits could really take hold. And based on the price action lately, it certainly seems like the bulls are betting on that happening. Time will tell.
P.S. If you want an expert breakdown of the biggest trends in the crypto market right now, be sure to subscribe to our Litepaper Newsletter. 📰
SPONSORED
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^3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here. *Low fee based on gross expense ratio at .15%.
PRESENTED BY STOCKTWITS
ICYMI: “The Weekend Rip With Ben & Emil” 🤑
In this week’s episode, Ben gets drunk (off one beer) to discuss big trades in MicroStrategy and Super Micro, Jim Cramer caving on crypto, Kim Kardashian’s new Tesla robot, and more of the “best worst” financial advice on the internet.
STOCKS
Other Noteworthy Pops & Drops 📋
EchoStar (-3%): Satellite TV giant DirecTV said it’s abandoning a deal with Charlie Ergen’s EchoStar to acquire video distribution business Dish DBS due to opposition from bondholders to a debt exchange. ❌
Texas Pacific Land (+15%): The Texas landowner’s oil-rich Permian Basin has propelled its profits and share price, prompting a move up from the S&P Mid-Cap 400 index into the S&P 500 index. It will replace Marathon Oil Corp. 🛢️
GeoVax Labs (+8%): The World Health Organization ($WHO) reaffirmed that the ongoing upsurge of monkeypox remains a public health emergency of international concern. It boosted GeoVax, SIGA Technologies, and Emergent Biosciences. 💉
Grab Holdings (-11%): Bank of America reported the “Uber of Asia” from ‘buy’ to ‘underperform,’ keeping its price target of $4.90 intact. Despite improving fundamentals, BofA analysts believe the risk/reward is skewed lower. 👎️
Wolfspeed (+31%): The prominent manufacturer of silicon carbide (SiC) semiconductors used in electric vehicles ($EVs) surged following insider buying. 🤑
Agrify Corp. (+27%): The cannabis-focused hardware and software solutions provider secured a $25.9 million non-brokered private placement. 🥦
Viasat (+13%): Florida Representative Debbie Schultz invested in the company. Schultz is a ranking member of the U.S. House Appropriations Subcommittee on Military Construction, Veteran Affairs, and Related Agencies, sparking speculation that she knows something others may not. 🤔
Children’s Place (+1%): The struggling children’s retailer and ‘meme stock’ rose after launching its new brick-and-mortar strategy. The ‘Gymboree’ store signals a “new era of growth and innovation,” sparking retail enthusiasm. 👶
Reddit (-7%): The social media giant fell after an SEC filing showed that Chinese internet giant Tencent Holdings reduced its stake in the company, raising fears among other investors. 😬
SiriusXM (+0%): A New York judge determined that SiriusXM’s “long and burdensome” cancellation process is illegal, violating federal laws requiring companies to make it easy to cancel a subscription. 😡
COMMUNITY VIBES
One Tweet To Sum Up The Week 😂
$BTC almost had it…
— Stocktwits (@Stocktwits)
8:26 PM • Nov 22, 2024
Links That Don’t Suck 🌐
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