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BTCUSD

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GBTC

Cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) are in decline, partly due to institutional sales from ETFs. Grayscale's GBTC has seen significant outflows since converting to a spot Bitcoin ETF, with FTX's bankruptcy estate selling a large portion of its GBTC shares. Analysts predict a massive correction for Bitcoin, while some assets like Bitcoin Cash and Loopring are being actively shorted on Binance. The S&P 500 and Nasdaq hit new highs, and key economic indicators are expected later this week.

Portfolio Pulse from Mehab Qureshi

January 24, 2024 | 3:37 am

AAPL

AMD

BAC

BTCUSD

BYDDY

NFLX

TCEHY

TTE

Bitcoin has plummeted below $39K, erasing gains since the US spot ETF launch. Shiba Inu's burn rate spikes, and analysts comment on crypto volatility. US stocks brace for earnings reports, with defensive stocks highlighted. JPMorgan is bearish on the S&P 500. US politics feature Trump's comments and potential UAW Biden endorsement. Russia-West tensions rise, and China's economy stumbles but still attracts investors. Apple faces criticism and rolls out updates, while AMD's future is uncertain. Tencent sees workforce cuts but shares surge. BYD challenges Tesla with new electric vehicles. Netflix's studio head departs, and Bank of America lays off bankers in Asia. TotalEnergies expands in offshore energy.

Portfolio Pulse from Akanksha Bakshi

January 23, 2024 | 2:15 pm

GBTC

Bitcoin's price has dropped below $39,000, erasing gains from the last two months since the U.S. launch of spot ETFs. The sell-off is partly due to the FTX bankruptcy estate selling shares of Grayscale's GBTC. Analysts suggest the ETF approval might mark a short- to mid-term price peak. Trading volume and circulating supply of Bitcoin have also decreased, while Peter Schiff comments on the bear market for Bitcoin ETFs.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 12:14 pm

ARVL

Electric vehicle manufacturer Arrival SA (NASDAQ:ARVL) is reportedly close to bankruptcy and in talks with EY for potential administration. The company's shares have dropped nearly 96% over the past year. Arrival ended the first half of 2023 with $43 million in cash and a loss of $155.7 million. The company's market cap is now around $21 million, down from a valuation of $5.4 billion at its public debut in March 2021 through a SPAC merger. Shares closed at $0.92, down nearly 20% on Monday.

Portfolio Pulse from Anan Ashraf

January 23, 2024 | 4:48 am

BITO

GBTC

HODL

Peter Schiff criticized Bitcoin ETFs, highlighting their significant declines since launch. He specifically mentioned the Vaneck Bitcoin Trust ($HODL), suggesting a symbol change to $GTFO, and the ProShares Bitcoin Strategy ETF ($BITO), which has lost over 50% since its inception. Additionally, the FTX estate sold a large portion of its Grayscale Bitcoin Trust (GBTC) holdings, contributing to over $700 million in Bitcoin sales since January 11.

Portfolio Pulse from Mehab Qureshi

January 23, 2024 | 4:03 am

GBTC

FTX's bankruptcy estate sold its entire stake in Grayscale Bitcoin Trust (GBTC), valued at nearly $1 billion, contributing to half of the $2 billion outflows from GBTC since it became an ETF. The sale occurred after the SEC approved the trading of several spot Bitcoin ETFs, including GBTC's conversion from a closed-end fund. Despite the new ETFs, GBTC has seen substantial withdrawals, and Bitcoin's price has declined since the ETF approvals.

Portfolio Pulse from Murtuza Merchant

January 22, 2024 | 7:26 pm

ARVL

Arrival, an electric van maker listed on Nasdaq, is nearing insolvency and in talks with EY for potential administration if it fails to secure rescue funding. The company's shares have dropped by 95% over the past year, and it faces delisting due to non-compliance with Nasdaq's listing rules. Arrival went public via a SPAC merger in 2021 with a valuation of $5.4bn but now has a market cap of just over $20m. It has not yet started commercial production of its vehicles and has been reducing its workforce.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 4:33 pm

AAPL

SBUX

SEDG

TSLA

XOM

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin have seen a drop as Google search interest in spot ETFs declines. Apple's Vision Pro pre-orders are strong, but an analyst predicts a demand dip. Terraform Labs files for bankruptcy amid legal issues. Starbucks is predicted to see over 6% upside by a highly accurate analyst. Tesla, Netflix, and Intel are in focus during a pivotal earnings week. US and world politics could influence markets, with Trump and DeSantis news. US economic slowdown is forecasted for 2024. In tech, Apple faces challenges, Nvidia's CEO visits China, and OpenAI enforces political rules. The electric vehicle sector sees developments with Nio, Rivian, and Tesla. Exxon Mobil sues shareholders over climate proposal. Boeing is recommended for expanded checks on its 737 fleet. Manchester United appoints a new CEO, and Amer Sports considers a US IPO. SolarEdge shares are up premarket.

Portfolio Pulse from Akanksha Bakshi

January 22, 2024 | 1:27 pm

LUNAUSD

LUNCUSD

Terraform Labs, the company behind the collapsed stablecoin TerraUSD, has filed for Chapter 11 bankruptcy protection in the U.S. amid significant legal challenges. CEO Chris Amani views the filing as a way to continue operations and support the Terra community while dealing with legal issues. The company reports assets and liabilities between $100 to $500 million. Terra Classic (LUNC) and Terra (LUNA) cryptocurrencies have both fallen by 5%.

Portfolio Pulse from Mehab Qureshi

January 22, 2024 | 3:48 am

AMZN

DIS

SBGI

Amazon.com Inc (NASDAQ:AMZN) has acquired a minority stake in Diamond Sports Group, a subsidiary of Sinclair Broadcast Group Inc (NASDAQ:SBGI), as part of a deal to become the primary partner for streaming regional sports networks. This move follows Amazon's success with NFL Thursday Night Football and includes Sinclair's $495 million cash payment to Diamond Sports to settle litigation. The deal is part of Diamond Sports' bankruptcy restructuring and will allow Amazon to stream MLB, NBA, and NHL games on Prime Video. Sinclair will provide management and transition services during Diamond's reorganization. The Walt Disney Company (NYSE:DIS) previously divested Diamond Sports, which was then known as Fox Sports Networks.

Portfolio Pulse from Chris Katje

January 17, 2024 | 3:57 pm