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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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Stock indices marked their eighth consecutive week of gains, with the S&P 500, Dow, and Nasdaq all rising. Inflation measured by the PCE index fell to 2.5% in November, the lowest since March 2021, prompting economists to reconsider the Fed's rate plans for 2024. Bullish views included predictions for Apple and Tesla, a potential Bitcoin ETF approval, and a Dogecoin rally. Bearish perspectives involved a drop in oil prices following Angola's OPEC exit, a predicted 75% fall in Ethereum, and a downgrade of Roku by Seaport Research Partners.

Portfolio Pulse from Michael Cohen

December 23, 2023 | 2:50 pm

Bitcoin's market cap has increased by 160% in 2023, adding $530 billion, fueled by investor optimism over potential U.S. approval of a Bitcoin ETF. Michael Saylor of MicroStrategy predicts a 'demand shock' if the ETF is approved. Despite challenges in the crypto space, Bitcoin's performance has surpassed global stocks and gold, and companies like Coinbase have seen significant gains. Bitcoin derivatives activity has increased, but the daily value of Bitcoin trades has fallen since last April.

Portfolio Pulse from Ananya Gairola

December 23, 2023 | 5:14 am

Bitcoin (BTC) remained stable, Ethereum (ETH) rose over 3%, and Dogecoin (DOGE) fell about 1.2% in the last 24-hour trading session. Bitcoin's movement echoed the general market, which was flat after the PCE index inflation report. Both Bitcoin and Ethereum recently broke out from symmetrical triangle patterns, indicating a potential shift in momentum. Bitcoin is facing resistance at $45,000 and $45,814, with support at $42,233 and $39,600. Ethereum has resistance at $2,317 and $2,461, with support at $2,140 and $2,020. Dogecoin is consolidating between $0.09 and $0.099, with resistance at $0.099 and 12 cents, and support at 9 cents and $0.083.

Portfolio Pulse from Melanie Schaffer

December 22, 2023 | 9:31 pm

MicroStrategy Incorporated (NASDAQ:MSTR) stock is experiencing a significant uptrend, rising over 330% year-to-date. The company's CEO, Michael Saylor, expressed confidence in the stock's appeal in a Bloomberg interview, citing the ability to leverage low-interest debt to purchase Bitcoin. BTIG analyst Mark Palmer upgraded the price target for MSTR from $560 to $690. The stock is trading above its 50-day moving average and has reached a new 52-week high of $612.59.

Portfolio Pulse from Erica Kollmann

December 22, 2023 | 7:36 pm

The S&P 500 and Nasdaq 100 are aiming for their eighth consecutive week of gains, buoyed by a larger-than-expected drop in the Fed's preferred inflation gauge, the PCE price index. The iShares Russell 2000 ETF (IWM) outperformed large-cap indices, while the Invesco DB USD Index Bullish Fund ETF (UUP) and SPDR Gold Trust (GLD) remained steady. ANSYS, Inc. (ANSS) saw a surge in stock price due to potential sale news, while NIKE Inc. (NKE) shares fell after missing revenue estimates. Brystol Myers Squib (BMY) rose after announcing the acquisition of Karuna Therapeutics (KRTX), and Moderna Inc. (MRNA) continued its upward trend.

Portfolio Pulse from Piero Cingari

December 22, 2023 | 6:04 pm

BlackRock (NYSE:BLK) has filed with the SEC to launch a Bitcoin (CRYPTO: BTC) spot ETF, following a precedent of security-focused refilings by other firms. Grayscale Bitcoin Trust (GBTC) is also pushing for ETF conversion, with a court siding with them against the SEC. BlackRock's interest in Bitcoin ETFs is driven by the potential for democratizing investing, portfolio diversification, and revenue streams. The success of such ETFs could significantly impact Bitcoin's market cap and legitimize digital assets, as evidenced by a false tweet that temporarily spiked Bitcoin's price.

Portfolio Pulse from Robert Janeiro

December 22, 2023 | 6:03 pm

Benzinga's Stock Whisper Index highlights five stocks: Marathon Digital Holdings (MARA), HOOKIPA Pharma (HOOK), Ebang International Holdings (EBON), Canaan Inc (CAN), and Warner Bros. Discovery (WBD). MARA has surged due to Bitcoin's rise and an analyst's price target increase. HOOK rose after Gilead Sciences (GILD) bought shares, with potential for more purchases. EBON and CAN, both related to Bitcoin mining, saw significant gains. WBD's stock declined amid rumors of a potential merger with Paramount Global (PARA, PARAA).

Portfolio Pulse from Chris Katje

December 22, 2023 | 5:53 pm

Coinbase Global, Inc. (NASDAQ:COIN) stock is up after JMP Securities and Mizuho analysts raised their price targets. JMP's Devin Ryan set a new target of $200, citing the potential of blockchain technology and digital asset ecosystem growth. Mizuho's Dan Dolev increased his target to $54, noting excitement over possible spot Bitcoin ETFs. COIN shares have surged over 60% in the past month and are up 400% YTD, reaching a new 52-week high of $178.05.

Portfolio Pulse from Erica Kollmann

December 22, 2023 | 5:08 pm

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares have risen over 40% in the past five days, buoyed by the announcement of a purchase agreement with Generate Capital, PBC for two Bitcoin mining sites. The acquisition, valued at $178.6 million, is expected to reduce Marathon's cost per coin by 30%. Following the news, HC Wainwright & Co. analyst Kevin Dede maintained a Buy rating on Marathon Digital and increased the price target from $20 to $24. The company's stock is trending among retail investors, with a high short interest of 22.57%. Bitcoin's rally and the potential approval of a spot Bitcoin ETF are also contributing to the positive sentiment.

Portfolio Pulse from Erica Kollmann

December 22, 2023 | 3:24 pm

Ethereum (ETH) rose above $2,300 following the release of U.S. core PCE data showing a slight increase of 0.1% from the previous month. Optimism (OP) emerged as the top gainer with a 24.6% increase, while Sei (SEI) was the biggest loser, dropping 14.6%. The global crypto market cap increased by 0.8% to $1.66 trillion, with Bitcoin (BTC) trading slightly lower at $43,739. Other notable gainers include Oasis Network (ROSE), Arbitrum (ARB), Algorand (ALGO), and Pepe (PEPE), while Helium (HNT), SATS, Stacks (STX), and Beam (BEAM) were among the losers.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 2:32 pm

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