Streetbeat News

Assets

BTCUSD

MSTR

Bitcoin (CRYPTO: BTC) is showing signs of a significant price movement, potentially reaching $100,000, as its correlation with traditional stock markets diminishes, according to market intelligence firm Santiment. This divergence was highlighted following new inflation data, with Bitcoin demonstrating resilience by bouncing back above $70,000. The potential inclusion of MicroStrategy Inc. (NASDAQ: MSTR), the largest corporate holder of Bitcoin, into the S&P 500 could further integrate Bitcoin into mainstream investment portfolios.

Portfolio Pulse from Benzinga Neuro

April 12, 2024 | 1:46 pm

BTCUSD

BTTUSD

ETHUSD

PENDLEUSD

Bitcoin (BTC) saw an increase, trading above $70,000, while Ethereum (ETH) experienced a slight decline but stayed above $3,500. BitTorrent (BTT) led the gains among cryptocurrencies, with Pendle (PENDLE) being the largest loser. The global crypto market cap increased slightly to $2.63 trillion. Other notable gainers include Cronos (CRO), Conflux (CFX), BNB, and VeChain (VET), with significant losers being Bittensor (TAO), JasmyCoin (JASMY), Jupiter (JUP), and dogwifhat (WIF).

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 1:38 pm

AEM

CNIKF

Canada Nickel Company (OTCQX:CNIKF) is accelerating the development of its Crawford nickel project in Ontario, with plans for a $1 billion processing plant. The project, expected to start production by end-2027, has a 41-year lifespan and significant nickel, cobalt, palladium, platinum, iron, and chromium resources. Agnico Eagle Mines (NYSE:AEM) holds a 12% stake in Canada Nickel, and Samsung SDI has secured an investment deal for an 8.7% stake and rights to 10% of the project's nickel-cobalt production.

Portfolio Pulse from Stjepan Kalinic

April 12, 2024 | 1:38 pm

BA

LUV

UAL

Southwest Airlines expects fewer Boeing jet deliveries this year, impacting its growth. Initially planning for 85 Boeing MAX jets, now only about 20 are expected due to Boeing's production cuts and regulatory issues. This reduction affects Southwest's operational targets and financial outlook, with similar challenges faced by United Airlines.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 1:31 pm

CLSK

CleanSpark Inc. (NASDAQ:CLSK) announced it has exceeded 17 EH/s of operating hashrate and exercised an option to purchase 100,000 Bitmain S21 Pros, increasing its total purchased hashrate by 17% to 23.4 EH/s. This upgrade, from the previously agreed S21 to the more efficient S21 Pro, maintains the cost at $16 per terahash while improving efficiency by 14%. CEO Zach Bradford highlighted the upgrade's significance ahead of the bitcoin halving, positioning CleanSpark as a leader in efficiency and production in North America. The new machines are expected to be delivered between June and December 2024.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 1:00 pm

BTCUSD

ETHUSD

Hong Kong is set to approve spot Bitcoin and Ether ETFs, potentially this week, positioning itself as a major player in the cryptocurrency ETF market. This move, reported by Bloomberg citing sources, involves Harvest Fund Management and a partnership between Bosera Asset Management and HashKey Capital as frontrunners for approval. The approval marks a shift from futures-based to spot crypto ETFs in Hong Kong, amid efforts to become a leading digital asset hub. This follows the successful launch of spot Bitcoin ETFs in the US, which have significantly boosted the cryptocurrency market.

Portfolio Pulse from Murtuza Merchant

April 12, 2024 | 12:58 pm

CRIS

OCX

RVMD

Three health care stocks, OncoCyte Corporation (OCX), Curis, Inc. (CRIS), and Revolution Medicines, Inc. (RVMD), are considered overbought as of April 12, 2024, based on their RSI values, indicating potential short-term performance concerns. OCX announced a $15.8 million private placement, CRIS reported inducement grants, and RVMD published a research paper, all contributing to recent stock gains.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 12:34 pm

SPY

The USA Import Price Index for March showed a year-over-year increase of 0.4%, surpassing the estimated 0.3% and marking a significant change from the previous -0.8%.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 12:32 pm

SPY

The US Export Price Index for March showed a month-over-month increase of 0.3%, aligning with the market expectations of a 0.3% rise.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 12:30 pm