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Bitcoin is an innovative payment network and a new kind of money. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

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Volatility surged in the market as Treasury yields and the US dollar climbed ahead of key economic releases. The CBOE Volatility Index (VIX) spiked 9%, and the yield on the 30-year Treasury note rose to 4.74%. The iShares 20+ Year Treasury Bond ETF (TLT) fell 1.3%, while the Invesco DB USD Index Bullish Fund ETF (UUP) rose 0.5%. Major US equity indices and sectors traded in the red. American Airlines (AAL) tumbled 14% after trimming Q2 earnings guidance and receiving analyst downgrades. ConocoPhillips (COP) announced an all-stock deal to buy Marathon Oil (MRO), with COP shares falling 4% and MRO rising 8%. Bank OZK (OZK) dropped 14% following a downgrade from Citigroup. Dicks Sporting Goods (DKS) spiked 15% after beating earnings expectations. Other notable stock movements included Heico Corp. (HEI) up 2.1%, Viking Holdings (VIK) down 2.7%, Chewy Inc. (CHWY) up 29%, Abercrombie & Fitch (ANF) up 22%, and Advance Auto Parts (AAP) down 8%.

Portfolio Pulse from Piero Cingari

May 29, 2024 | 5:32 pm

Bitcoin's potential to reach new all-time highs is closely tied to inflation data, according to a report by 10x Research. Institutional inflows have been significant, but higher-than-expected inflation has dampened enthusiasm. The report suggests that if inflation data aligns with or falls below expectations, Bitcoin could reach new highs.

Portfolio Pulse from Murtuza Merchant

May 29, 2024 | 4:55 pm

BlackRock's iShares Bitcoin Trust (IBIT) has become the largest Bitcoin fund globally, surpassing Grayscale Bitcoin Trust (GBTC) with nearly $20 billion in assets. The fund's success has contributed to Bitcoin's price surge and has outperformed MicroStrategy (MSTR) in Bitcoin holdings.

Portfolio Pulse from Anusuya Lahiri

May 29, 2024 | 4:27 pm

Glassnode's latest newsletter highlights Bitcoin's consolidation near its all-time high and Ethereum's ETF-induced surge as signs of a strong crypto market. Bitcoin has shown significant gains and renewed interest from long-term investors, while Ethereum's price rally was driven by the SEC's approval of Ethereum Spot ETFs.

Portfolio Pulse from Ivan Crnogatić

May 29, 2024 | 3:42 pm

Bitcoin and Ethereum prices could rally due to central bank liquidity injections, according to macro analysts Preston Pysh and Luke Gromen. They discussed how these measures, although not labeled as quantitative easing, have similar effects, potentially weakening the dollar and boosting economic growth. This environment could be favorable for cryptocurrencies.

Portfolio Pulse from Ivan Crnogatić

May 29, 2024 | 3:11 pm

The stock market is under pressure due to soft Treasury auctions and potential rate hikes. Money flows are neutral in NVIDIA and Apple, but negative in Amazon, Alphabet, Meta, Microsoft, Tesla, SPDR S&P 500 ETF Trust, and Invesco QQQ Trust. The momo crowd is buying oil and selling gold, while smart money is inactive. Bitcoin may see a significant drop due to potential Mt. Gox-related sales.

Portfolio Pulse from The Arora Report

May 29, 2024 | 2:42 pm

A crypto analyst, Bluntz, predicts new all-time highs for memecoins Pepe (PEPE) and Floki (FLOKI), and forecasts a significant rally for Ethereum (ETH) after a temporary dip in its Bitcoin pair (ETH/BTC).

Portfolio Pulse from Benzinga Neuro

May 29, 2024 | 2:26 pm

ConocoPhillips (COP) is set to acquire Marathon Oil (MRO) in an all-stock deal. Bitcoin spot ETFs have seen record inflows of $14.9 billion year-to-date. Jamie Dimon warns that the chance of stagflation is higher than most people think.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 2:24 pm

Bitcoin Spot ETFs have reached a record $14.9 billion in year-to-date inflows. Cathie Wood's Ark Invest sees potential legislative breakthroughs for crypto. Ethereum-based DeFi protocol Aave plans to launch its own blockchain by 2025. Binance is praised for its role in a $200 million hack investigation. Meme coins like Shiba Inu and Dogwifhat post double-digit gains despite dips in Bitcoin and Ethereum.

Portfolio Pulse from Akanksha Bakshi

May 29, 2024 | 1:34 pm

Coinbase Global Inc (NASDAQ:COIN) shares are trading lower due to the New York Stock Exchange's (NYSE) collaboration with CoinDesk Indices to launch cash-settled index options tracking the CoinDesk Bitcoin Price Index (XBX). This development may impact Coinbase's market position as a leading cryptocurrency exchange.

Portfolio Pulse from Adam Eckert

May 29, 2024 | 1:30 pm

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