Bitcoin, Ethereum, Dogecoin Pull Back As Auto Stocks Trigger Equities Decline: Analyst Forecasts King Crypto's Fall To $60.36K Because Of This Reason
Portfolio Pulse from Aniket Verma
Cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, saw a decline as auto stocks like Ford and General Motors were downgraded, impacting equities. Bitcoin's support level is crucial, with potential to fall to $60,365 if it doesn't hold. Auto stocks fell due to Morgan Stanley's downgrade.
September 26, 2024 | 2:38 am
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NEGATIVE IMPACT
Ford's stock fell 4.14% after Morgan Stanley downgraded it, contributing to a broader decline in equities.
The downgrade by a major financial institution like Morgan Stanley typically leads to a negative market reaction, as seen with Ford's 4.14% drop.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
General Motors' stock declined 4.89% after a downgrade by Morgan Stanley, affecting the overall market sentiment.
Morgan Stanley's downgrade led to a significant drop in GM's stock price, reflecting investor concerns.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80