Forex Market Overview All market | Anton Bykov 25 April 2024

24.04.2024 12:04

Crypto Week: BTC Halving Support Market, while Investors Fear of Mt. Gox

Bitcoin (BTC) has added 3.0% to reach $66,500. While it briefly touched $67,212, it appears to be struggling to fully recover from a drop earlier in April. Investor sentiment towards crypto assets remains cautious, with a decrease in stakes observed. The ProShares Bitcoin Strategy ETF (BITO) reported a net capital outflow of $142.8 million last week, marking the largest outflow in its history. This followed the $112.9 million outflows reported in the previous week. Meanwhile, IBIT from BlackRock and FBTC from Fidelity saw consolidated net inflows of $285.

19.04.2024 11:04

Weekly Summary: Israel Pushed Stocks into Correction

Anton Bykov

S&P 500 broad market index futures dropped by 3.0% to 4971 points this week. The benchmark went even lower to 4927 points, the lowest since February 13. This correction happened after Israel carried out a strike on Iran. Curiously, Iran said that there was no missile strike, but local air defense systems. Explosions were heard near Isfahan International Airport and an army base in Isfahan city. The initial market reaction was very strong. Brent crude prices jumped by 4.4% to $90.80 per barrel. Gold went up by 1.7% to $2417 per troy ounce. U.S. 10-year Treasuries yields dropped to 4.

17.04.2024 10:04

Crypto Week: BTC Drop before Halving and 90% Discount on Bored Apes

Anton Bykov

The recent week saw Bitcoin (BTC) experiencing a 0.7% decline to $63,300, following a significant 10% drop over the weekend. On March 13, the coin dipped even further, reaching $60,180, marking its lowest reading since March 5. This sharp decline was triggered by Iran's missile and drone attack on Israel. Although most targets were shut down and the damage to Israel was minimal, this event prompted a negative response in the crypto market. Altcoins, in particular, suffered disproportionately, losing twice as much value as Bitcoin.

15.04.2024 12:04

Weekly Focus: U.S. Retail Sales, Fed’s Powell and Banking Sector Reporting

Anton Bykov

It seems like the S&P 500 broad market index futures had a somewhat positive start to the week, rising by 0.5% to 2155 points. However, this gain follows a previous week of retracement where the benchmark lost 1.5%. The current situation remains tense, and corrections are still possible. The support level for the S&P 500 index has moved higher to 5130-5150 points, and the price has followed suit. This upward move has made the current disposition even more fragile.

10.04.2024 11:04

Crypto Week: Hayes Crypto Correction, Special Halving and Eisenberg Mango Fraud

Anton Bykov

Bitcoin (BTC) remained relatively stable at $68,780 on Wednesday, masking the significant volatility experienced in the preceding two days. On Monday, BTC surged by 5.5% to $72,880, nearing its all-time high at $73,864, only to plummet the following day to $68,825, showcasing a tumultuous ride akin to a rodeo. This volatility resulted in substantial losses for traders, with short positions incurring $124 million in losses on Monday, followed by long trades suffering $175 million in losses the next day.

08.04.2024 12:04

Weekly Focus: Inflation, FOMC Minutes, ECB and Corporate Reporting Season in the U.S.

Anton Bykov

S&P 500 broad market index futures showed a modest increase of 0.1% to 5214 points this week, rebounding from a 2.0% decline observed last Friday when it dropped to 5147 points. Despite expectations for a continued downturn following the strong U.S. labor market report, the index managed to rebound by 1.1% and finish the week at 5208 points. The robust March Nonfarm Payrolls report, which exceeded expectations at 303,000, along with a surprising decrease in unemployment to 3.8% from February's 3.9%, and an acceleration in average hourly earnings to 0.3% MoM, led to a surge in U.S.

03.04.2024 10:04

Crypto Week: UltraShort BTC amid Stagnating Market

Anton Bykov

Bitcoin (BTC) is experiencing a 7.0% retreat this week, with prices dropping to $66,000 per coin and hitting a low of $64,498, the lowest in the past 10 days. The deteriorating crypto market is attributed to rising yields on the American debt market, which have been spurred by higher-than-expected PMI and GDP estimates in the United States. Bets on interest rate cuts by the Federal Reserve (Fed) in June have decreased to 56.3% from 66.0%, while U.S. 10-year Treasuries yields have surged to 4.40%, the highest since November 28, 2023.

29.03.2024 10:03

Weekly Summary: Another S&P 500 Record and Fed’s Favorite Inflation Gauge Release

Anton Bykov

The S&P 500 broad market index futures saw a modest increase of 0.3% to reach 5254 points this week, marking yet another all-time high at 5270 points on Thursday. With markets mostly resting on Good Friday, attention shifts to key economic data releases. The first quarter of 2024 closed on a notably positive note with a 10.15% rise, the best performance since 2019. March also saw a positive trend with a 3.3% upside, albeit less impressive compared to March 2023's 3.5% increase.

27.03.2024 11:03

Crypto Week: BTC Recovery to $70,000, Capital Outflows and New Crypto Victim for the U.S.

Anton Bykov

Bitcoin (BTC) has seen a robust 5.5% increase to $70,000 this week, albeit slightly retracing from its peak of $71,637 on Tuesday. While a solid breakthrough of the $70,000 resistance could pave the way for further gains up to $78,000-80,000 per coin, the leading cryptocurrency appears hesitant to reach those levels at the moment. One notable catalyst for Bitcoin's surge was the announcement that the London Stock Exchange (LSE) will introduce a marketplace for bitcoin and ether exchange-traded notes (ETNs) starting May 28.

25.03.2024 11:03

Weekly Focus: GDP, PCE and Record SPY Inflows

Anton Bykov

The S&P 500 broad market index futures have experienced a slight decline of 0.3%, falling to 5218 points, extending the decrease observed on Friday when prices retreated by 0.3%. Despite reaching a new all-time high last week at 5268 points with a 2.1% upside during the week, high overbought tension and technical correction may lead to downside openings this week. Such declines are considered normal after reaching new records, although more significant negative drivers would be necessary for further downside movement. The U.S. 10-year Treasuries yields have declined to 4.