Markets

Famous American investor Michael Burry, who predicted the 2008 financial crisis, has withdrawn his statement telling his Twitter followers to “sell.” His bullish reversal follows years of predictions that financial markets would continue to tap lower lows since peaking in 2021.  Burry Flips Bullish? On Thursday, Burry reactivated his Twitter account – which he frequently deletes – to make a succinct statement: “I was wrong to say sell.” I was wrong to say sell. — Cassandra...

The Tel Aviv Stock Exchange has announced it’s going to begin regulating all crypto trades in the coming future. Many analysts believe this is just the first step of what will likely be full crypto regulation in the country of Israel. Israel Is Looking at Steps for Crypto Regulation Ilan Tennenbaum – a veteran crypto trader – said in a recent interview: Finally, Israel, along with the rest of the world, is moving forward with regulations. With everything that happened in...

The latest jobless claims indicate that the US labor market is tight amid rising interest rates as applications rose by 7,000. According to the Labor Department, US weekly jobless claims have climbed to 198,000, representing an increase of 7,000. Although the new figure is slightly higher than the 195,000 expected, it is still generally low in a tight labor market. The Department of Labor also reported a four-week moving average of weekly claims amounting to 198,250. This figure...

Bitcoin mining firm Vortex Brands has announced a huge plan for expansion that would see its mining power increase significantly over the next several years. Vortex Brands Wants to Do More Mining To do this, Vortex has said it will put more money into its equipment and buy additional rigs. The goal is to up the amount of BTC extracted from the blockchain given the company believes the price of the world’s number one digital asset is sure to rise steadily in the...

The collapse of FTX in November might have played a major role in the decision of Gemini to foray into derivatives trading. A new report from The Information suggests that Gemini will soon launch an international cryptocurrency derivatives exchange. According to the report, Gemini has been silently working behind the scenes in the past few months to bring the plan to fruition. As part of its efforts, the exchange has reportedly reached out to several firms that can provide it with enough...

Amid the tightening of regulatory rules in Canada, crypto exchanges are contemplating whether to continue their operations or exit from the country. Similar to the United States, regulators in Canada have been tightening their grip on crypto firms operating in the region. Amid this intense regulatory environment, several exchanges have planned to move out of the country. However, crypto exchange Coinbase would prefer to continue its operation in Canada. A person familiar with the matter...

EOS price started a fresh increase from the $1.06 support against the US Dollar. The price is now trading above $1.12 and the 55 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near $1.15 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to move up if it clears the $1.20 and $1.232 resistance levels. EOS price is rising above $1.12 against the US Dollar, similar to bitcoin. The...

Litecoin started a steady increase above $85 against the US Dollar. LTC price is now trading above $88 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance at $92 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could gain bullish momentum if it clears the $92 and $95 resistance levels. Litecoin price is showing positive signs above $85 against the US Dollar, similar to bitcoin. LTC price could...

Following the disclosure, there are questions concerning how compliant the exchange has been with regulations. The Financial Times has reported the possible existence of a Binance-China link. FT cited it was in the possession of some internal documents belonging to Binance.  FT noted that these documents contradict past claims by various Binance executives, including Changpeng Zhao. In one such claim, CZ hit back at critics who accused Binance of being state-sponsored. CZ noted that...

XRP has been defying the market-wide decline as it continued its impressive recovery for the month. The asset – that is at the center of the Ripple lawsuit brought by the US Securities and Exchange Commission (SEC) – has surged by nearly 13% over the past day alone. XRP Surges to 10-Month High According to data on CoinMarketCap, XRP was currently trading at $0.58, a level not seen since May 2022. The decoupling from the broader market has fetched nearly 60% gains for the...