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Bitcoin plunges below US$50,000 with market technicals in focus

U.S. futures rise after stocks bruised by Biden tax plan Cecile Gutscher and Emily Barrett, Bloomberg News McCreath: Investors not keen on U.S. capital gains proposal VIDEO SIGN OUT Futures rose Friday as investors digested a proposal for higher taxes to pay for President Joe Biden’s fiscal stimulus. The upbeat sentiment signaled the S&P 500 Index may be poised to rebound from the steepest decline in five weeks that followed a Bloomberg News report Biden plans to nearly double the capital gains rate on the wealthy. Treasuries and the dollar dipped. Investors are weighing the implications of higher taxes against the potential spillover benefits of spending on infrastructure. While loose central bank policy is helping support stocks near record highs, these levels look precarious given worsening news about the spread of COVID-19 in parts of the world.

Bitcoin breaches $US50,000 threshold with technicals back in focus

Bitcoin breaches $US50,000 threshold with technicals back in focus Vildana Hajric and Joanna Ossinger Apr 24, 2021 – 5.58am Share Bitcoin headed for its worst week in almost two months as a proposed capital-gains tax increase for wealthy Americans intensified the volatility whiplashing the world’s largest cryptocurrency. A fresh bout of selling on Friday (Saturday AEST) drove bitcoin down as much as 7.9 per cent to $US47,525 below its 100-day moving average as it continued to take out key technical levels. Nearing 6am AEST on Saturday, bitcoin was trading at $US50,825 on bitstamp.net. Bitcoin has been one of the best-performing assets in recent years anyone who bought a year ago is sitting on a nearly 550 per cent gain. For investors who bought in April 2019, it’s roughly 800 per cent. 

JPMorgan Sounds Urgent Alarm On Bitcoin Price Momentum After $300 Billion Bitcoin And Crypto Sell-Off

JPMorgan Sounds Urgent Alarm On Bitcoin Price Momentum After $300 Billion Bitcoin And Crypto Sell-Off
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