The world's largest cryptocurrency is on track for a weekly gain as cooling U.S. labor market figures ease Federal Reserve rate hike fears, while spot Bitcoin ETFs snapped a 10-day streak of outflows.
JPMorgan analysts caution that MicroStrategy's new framework allowing it to sell Bitcoin introduces 'two-way flow risk' and uncertainty for the crypto market, given the firm's massive holdings.
Bitcoin is on track for a weekly gain after softer U.S. labor market data eased concerns about Federal Reserve rate hikes and spot Bitcoin ETFs recorded their first net inflows in 10 sessions.
JPMorgan analysts say MicroStrategy's shift from a buy-and-hold strategy to one allowing Bitcoin sales creates 'two-way flow risk' and uncertainty for the crypto market, given the company's significant holdings.
Bitcoin's recent price advance has paused at the critical $63,300 resistance level, with technical indicators suggesting the rally may be losing steam. Analysis points to declining volume and overextended price action, raising concerns about a potential reversal or 'bull trap'.
China has suspended all helium exports to protect its domestic supply as rising geopolitical tensions in the Middle East threaten global shipments of the gas, which is critical for semiconductor manufacturing.
South Korea's Kospi index is trading at its cheapest valuation on record, with a forward P/E ratio below 2008 crisis levels, as a surge in corporate earnings driven by AI chip demand has outpaced an 80% market rally.
A Morgan Stanley analysis of corporate earnings calls shows a growing number of U.S. companies are reporting concrete financial and productivity benefits from AI, moving past initial hype to demonstrate tangible returns.
U.S. Treasury yields declined as investors reacted to a significantly weaker-than-expected June jobs report, shifting focus to the upcoming Federal Reserve minutes for new policy signals.
