Streetbeat News

BTCUSD

Bitcoin / US Dollar

Industry

Digital Currency

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.

Open

N/A

Mkt cap

N/A

Volume

N/A

High

N/A

P/E Ratio

N/A

52-wk high

N/A

Low

N/A

Div yield

N/A

52-wk low

N/A

Stocks showed little movement while gold and Treasuries rose amid mixed sentiments due to weak ADP employment data. Investors are considering the implications for interest rates and corporate earnings. Oil prices fell, pressuring energy stocks like XLE. TLT gained on safe-haven demand. Citigroup announced a share buyback, boosting its stock, while Altria and Philip Morris were hit by British American Tobacco's brand devaluation. Lucid plans to lower prices, Campbell Soup reported strong earnings, and Carnival saw gains with travel optimism. Brown Forman and MongoDB fell on results, while SentinelOne and Robinhood rose.

Portfolio Pulse from Piero Cingari

December 06, 2023 | 7:04 pm

JPMorgan Chase & Co. CEO Jamie Dimon testified before a U.S. Senate Committee, criticizing Bitcoin and cryptocurrencies, suggesting the government should shut them down due to their use in illegal activities. Social media users mocked Dimon, accusing him of being out of touch and highlighting the use of fiat in criminal activities. Some users expressed intentions to close their Chase accounts or defended cryptocurrencies as a symbol of freedom.

Portfolio Pulse from Murtuza Merchant

December 06, 2023 | 6:37 pm

Bitcoin has surpassed $44,000 for the first time since April 2022, positively impacting Robinhood Markets Inc (HOOD). Robinhood CEO Vlad Tenev highlighted the company's role in the crypto industry on CNBC's 'Squawk Box.' He attributed the crypto surge to factors like institutional interest, optimism for a Bitcoin ETF, a potential end to the Fed's rate hikes, and Bitcoin's appeal as an inflation hedge. Robinhood has seen a 75% increase in crypto trading volumes and $1.4 billion in net deposits last month. Tenev also discussed the alignment of crypto's technology with Robinhood's mission to democratize finance. Robinhood's stock rose 8.64% to $11.44 following the news.

Portfolio Pulse from Adam Eckert

December 06, 2023 | 6:11 pm

Bit Brother Ltd (NASDAQ:BETS) shares surged 16.7% to $0.039 after announcing a registered direct offering to sell $12.0 million worth of shares and warrants. The offering includes 184,615,385 Class A ordinary shares at $0.065 per share with associated Class D and E warrants. Class D warrants are exercisable at $0.06 and Class E at $0.13. The company also plans a reverse split to avoid delisting and has secured a Certificate of Occupancy for a cryptocurrency mining farm in Texas, aiming to start operations by early 2024 with a target of 12 Bitcoin per month.

Portfolio Pulse from Henry Khederian

December 06, 2023 | 4:18 pm

Investors expect the European Central Bank to cut rates six times by 2024, potentially before the Fed does. ADP data indicates a Goldilocks economy with employment change lower than expected but still positive. U.S. Q3 Unit Labor Costs fell more than anticipated, and productivity surged, which is positive for the stock market. India's stock market capitalization reached $4 trillion, with iShares MSCI India Small-Cap ETF (SMIN) up 31.2% YTD. Early trade money flows are positive for major tech stocks and ETFs like SPY and QQQ. Gold and oil are experiencing mixed actions from the momo crowd and smart money. Bitcoin crossed $44,000. The Arora Report advises investors to maintain a balance of cash, hedges, and good long-term positions.

Portfolio Pulse from The Arora Report

December 06, 2023 | 4:08 pm

A cryptocurrency analyst, CrediBULL Crypto, advises against shorting Bitcoin and altcoins during the current rally, stating that the market is not 'overheated' based on hard data. The analyst highlights a recent short squeeze and healthy funding rates as indicators that the rally could continue. He predicts Bitcoin will break through major resistance levels, particularly the $40,000 mark, more quickly than expected.

Portfolio Pulse from Murtuza Merchant

December 06, 2023 | 4:07 pm

Riot Platforms Inc (NASDAQ:RIOT), a Bitcoin mining company, reported a 21% increase in Bitcoin production in November compared to October, and a 6% increase year-over-year, producing 552 Bitcoin. The company sold 540 Bitcoin and holds 7,358 Bitcoins. Despite a 9% increase in network difficulty, Riot's production was aided by the return of hash rate in Building G at the Rockdale Facility and reduced curtailment activity. Riot has a long-term purchase agreement with MicroBT, including an initial order of 33,280 miners and a second order for 66,650 miners, aiming to increase its self-mining capacity by 26 EH/s for a total of 38 EH/s by 2025. Riot shares were slightly up following the announcement.

Portfolio Pulse from Adam Eckert

December 06, 2023 | 3:08 pm

Bitcoin (BTC) and Ethereum (ETH) saw price increases, with BTC surpassing $44,000 and ETH above $2,200. BitTorrent (New) (BTT) was the top gainer, while Casper (CSPR) was the biggest loser in the last 24 hours. The global crypto market cap increased by 4.2% to $1.6 trillion. The ADP data showed U.S. private businesses hired fewer workers than expected in November.

Portfolio Pulse from Lisa Levin

December 06, 2023 | 2:33 pm

Wall Street is set for a rebound with U.S. futures indicating a positive open after two days of declines. The ADP National Employment Report showed weaker-than-expected private employment growth, fueling speculation about potential Fed rate cuts in 2024. Job openings decreased, suggesting a softening labor market. Oil prices fell, while gold prices rose. Chinese stocks dropped after Moody's downgraded China's credit outlook. Bitcoin and Ethereum's market value surpassed $1 trillion. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) are up in premarket trading. NVIDIA, Tesla, Lucid Group, and Exxon Mobil saw premarket gains, while Altria Group, Philip Morris, and Plug Power faced declines.

Portfolio Pulse from Piero Cingari

December 06, 2023 | 1:49 pm

The latest 'Family Guy' episode features a therapist who only accepts cryptocurrencies like Bitcoin, Ethereum, and Dogecoin for payment. This mention comes as these cryptocurrencies experienced a significant rally, which is attributed to falling interest rates and the anticipation of a spot Bitcoin ETF in the U.S. 'Family Guy' has referenced Bitcoin in the past, indicating a recurring theme of cryptocurrency in the show.

Portfolio Pulse from Mehab Qureshi

December 06, 2023 | 1:47 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.