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The au Jibun Bank Japan Services Purchasing Managers' Index (PMI) for January was reported at 53.1, surpassing the estimated 52.7 and the previous month's 51.5. This indicates a stronger expansion in the services sector than anticipated.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 5:39 am

BTCUSD

DOGEUSD

ETHUSD

Despite President Nayib Bukele's electoral victory in El Salvador, major cryptocurrencies Bitcoin, Ethereum, and Dogecoin traded in the red. The global cryptocurrency market cap declined by 1.1% to $1.63 trillion. Analysts predict an impending spike in Dogecoin's price volatility and a potential rise in Ethereum's price to $3,000+ in Q2. The cryptocurrency market saw a slight increase in market caps by 0.5% over the past week, despite a 20.3% drop in trading volumes.

Portfolio Pulse from Shivdeep Dhaliwal

February 05, 2024 | 4:50 am

BTCUSD

El Salvador's President Nayib Bukele has declared victory in the country's presidential election, aiming for a second term despite constitutional concerns. His leadership, including the controversial adoption of Bitcoin as legal tender, has seen both praise and criticism. Bukele's administration has been accused of human rights violations, but also credited with reducing crime and making profitable Bitcoin investments.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 4:04 am

BTCUSD

USDTUSD

Cryptocurrency analyst Justin Bennett warns of a potential downturn in Bitcoin's value, citing the Tether dominance chart as a key indicator. Bennett suggests that Bitcoin has not reached its market bottom yet, potentially retesting mid $44,000 levels. He also draws parallels between current SPX trends and Bitcoin's 2021 peak behavior, hinting at future movements.

Portfolio Pulse from Bibhu Pattnaik

February 04, 2024 | 3:00 pm

BLK

JPM

Financial experts including Bill Gross, BlackRock, and Jamie Dimon provided insights on the U.S. economy, discussing a looming debt crisis, bullish views on U.S. stocks, and potential unemployment rate increases. Gross compared the U.S.'s $34 trillion debt to climate change impacts, predicting inflation due to annual deficits. BlackRock upgraded U.S. stocks to 'overweight', anticipating an economic soft landing and interest rate cuts. Mizuho's Dominic Konstam projected unemployment could double by year-end. Peter Schiff criticized the Federal Reserve's inflation policy, and Dimon warned of a global market 'rebellion' due to U.S. debt levels.

Portfolio Pulse from Benzinga Neuro

February 04, 2024 | 11:08 am

BTCUSD

'Rich Dad Poor Dad' author Robert Kiyosaki issued a warning about an imminent crash in the stock and bond markets, despite recent positive trends. He attributes the market's buoyancy to the 'Magnificent Seven' companies, supported by government funding, and criticizes the perceived economic prosperity as deceptive. Kiyosaki's skepticism extends to traditional financial systems, advocating for Bitcoin as a defense against wealth erosion. His history of similar predictions has drawn skepticism from some market observers.

Portfolio Pulse from Bibhu Pattnaik

February 03, 2024 | 5:46 pm

DOGEUSD

SHIBUSD

This week in cryptocurrency saw the debut of a GameStop memecoin on Solana, a surge in Optimus AI's market cap following an Elon Musk tweet, predictions of a Dogecoin price jump, a significant increase in Shiba Inu's burn rate, and Donald Trump's criticism of CBDCs. The GameStop memecoin quickly reached a market cap of over $14 million, while Optimus AI's price soared after Musk's tweet. Analyst Muro predicts a 6% increase in Dogecoin's value, and Shiba Inu's burn rate skyrocketed by over 1,500% in a day. Trump expressed concerns over the freedom-threatening potential of CBDCs.

Portfolio Pulse from Benzinga Neuro

February 03, 2024 | 1:26 pm

BTCUSD

ETHUSD

Crypto analyst Michaël van de Poppe predicts a 72% bull run for Ethereum (ETH) in the next 3-6 months, driven by the Dencun upgrade, Ethereum Spot ETF hype, and Bitcoin rotation. Bloomberg Intelligence suggests a 60% chance of Ethereum ETFs launching in 2024, which could significantly boost ETH's value. Ethereum's integration with AI could also influence its price positively.

Portfolio Pulse from Rounak Jain

February 03, 2024 | 6:40 am

GOOG

GOOGL

Alphabet Inc. co-founder Larry Page has reportedly purchased a private island in Puerto Rico, Cayo Norte, for $32 million through a limited liability company, US Virgin Island Properties. The island, known for its sandy beaches and coral reefs, was acquired in two sections in 2018. This acquisition is part of a trend where tech billionaires, including Meta Platforms Inc. CEO Mark Zuckerberg and former Google CEO Eric Schmidt, invest in private islands and large-scale properties.

Portfolio Pulse from Rounak Jain

February 03, 2024 | 6:02 am

AMZN

META

TSLA

Jeff Bezos plans to sell up to 50 million Amazon (AMZN) shares, worth over $8.6 billion, as the company's stock surges, potentially reclaiming his title as the world's richest person. This would be his first sale since 2021, following Amazon's report of its highest online sales growth since the pandemic's early days. The sale could bring Bezos within $8.1 billion of surpassing Elon Musk, whose wealth faces challenges, including a court decision voiding his $55 billion pay package. Meanwhile, Meta Platforms Inc.'s CEO, Mark Zuckerberg, sees a wealth increase, potentially overtaking Bill Gates as the world's fourth-richest person.

Portfolio Pulse from Ananya Gairola

February 03, 2024 | 3:17 am