Market Moving Headline:
JPMorgan Chase & Co. strategists led by Nikolaos Panigirtzoglou noted that the last few times they witnessed such negative price action in Bitcoin, buyers returned in time to prevent deeper slumps. This time, they’re worried.
If the largest cryptocurrency isn’t able to break back above $60,000 soon, momentum signals will collapse, the strategists wrote in a note Tuesday. It’s likely traders including Commodity Trading Advisers (CTAs) and crypto funds were at least partly behind the buildup of long Bitcoin futures in recent weeks, as well as the unwind in past days, they said.
“Over the past few days Bitcoin futures markets experienced a steep liquidation in a similar fashion to the middle of last February, middle of last January or the end of last November,” the strategists said. “Momentum signals will naturally decay from here for several months, given their still elevated level.”
Lessons from Bezos’ annual letters.
SpaceX preparing to launch for ISS.
How Sarajevo impacted war reports.
Tesla mulling cars tailored to China.
Should you cash-out equity on car?
J&J resumes Europe vaccine rollout.
Netflix unpacks slowing sub growth.
Market Moving Headline:
An abundance of harvest-ready trees has kept stumpage fees extremely low across the U.S. South, home to half of the country’s production. Meanwhile, lumber futures are up 85% in 2021 because of soaring demand. Sawmills profit from the premium lumber commands over the stumpage fee think of it like the lumber crack spread.
“As soon as the supply disruptions sort themselves out and everything gets back to normal, we expect a major correction in prices,” said Joshua Zaret, a senior analyst at Bloomberg Intelligence. “But right now, if you’re producing lumber in the U.S. South or anywhere for that matter, but particularly in the U.S. South, where your log cost hasn’t come up it’s very pr
BoE, HM Treasury intro CBDC unit.
Ex-Pimco exec talking digital assets.
How brokers are breaking into BTC.
PBoC on crypto as alt-investments.
Insurtech Versured launches offers.
NA startup funding was on fire in Q1.
Knox Financial raises $10M funding.
Open Bank Project, API3 partnered.
Pluto Digital Assets planning an IPO.
UK removing MiFID II requirements.
US banks deploy AI monitoring tech.
How fintechs lower acquisition costs.
Citi eyes big technology ambitions.
OKEx integrates Lightning Network.
OCC intros a clearing fee reduction.
Circle picked Signature over USDC.
Mastercard to buy a digital ID firm.
Brex is expanding instant payouts.
Goldman Sachs invests in Starling.
Clubhouse closed on funding round.
StockX brings shoe scene to Detroit.
Two dead in ‘driverless’ Tesla crash.
Facebook to announce social audio.
DeSantis: Lockdowns a big mistake.
Market Moving Headline:
The S&P 500, Nasdaq-100, and Dow Jones Industrial Average made new all-time highs before closing the week out with an attempt to balance and validate newly discovered prices.
Key Takeaways:
- Earnings pick up, add to clarity on recovery.
- Risk, reward poor for new entries. Be picky.
In the coming sessions, participants will want to pay attention to where the S&P 500 trades in relation to Friday’s open-high-low-close (OHLC).
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