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Ethereum / US Dollar

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Digital Currency

Ethereum is open access to digital money and data-friendly services for everyone – no matter your background or location. It's a community-built technology behind the cryptocurrency ether (ETH) and thousands of applications you can use today.

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The cryptocurrency market has experienced a significant downturn, with Bitcoin and Ethereum seeing sharp declines. Despite this, options traders remain optimistic, particularly for Ethereum. Factors such as Bitcoin miner capitulation and potential short squeezes could stabilize prices. The upcoming Mt. Gox repayment and potential approval of S-1 Forms for crypto-related financial products are also influencing market dynamics.

Portfolio Pulse from Murtuza Merchant

July 05, 2024 | 3:02 pm

Bitcoin, Ethereum, and Dogecoin experienced significant declines as Mt.Gox moved $2.7 billion to a new wallet. Wall Street is in a 'wait-and-watch' mode ahead of jobs data, with Bitcoin plummeting and Tesla extending its climb. The S&P 500 settled at a new record despite the Fear & Greed Index moving to the 'Fear' zone. Nvidia supplier SK Hynix is expected to benefit from AI demand, and Tesla's Giga Berlin expansion received environmental approval.

Portfolio Pulse from Akanksha Bakshi

July 05, 2024 | 3:02 pm

The cryptocurrency market experienced a significant downturn, with Bitcoin, Ethereum, and Dogecoin all seeing substantial declines. The movement of $2.7 billion worth of Bitcoin by Mt. Gox has sparked fears of a sell-off, leading to a wave of liquidations and a bearish sentiment in the market. Analysts predict further potential declines for Bitcoin if it closes below $57,000, with support at $51,000.

Portfolio Pulse from Aniket Verma

July 05, 2024 | 3:00 pm

European stocks and the British pound surged ahead of the UK election results, with the Labour Party expected to win a landslide victory. The FTSE 100 Index rose over 1%, led by Smith & Nephew, Bunzl, Melrose, and Barclays. The Invesco CurrencyShares British Pound Sterling ETF (FXB) edged 0.2% higher. The broader Euro STOXX 50 Index, tracked by the SPDR DJ Euro STOXX 50 ETF (FEZ), closed 0.4% higher. Cryptocurrencies, including Bitcoin, Ethereum, Solana, Ripple, and Cardano, saw significant declines.

Portfolio Pulse from Piero Cingari

July 05, 2024 | 3:00 pm

Bitcoin analyst Ali Martinez suggests that the recent price dip may not be over, or shorts could face significant losses. Despite market turbulence, only $280.9 million in longs and $25.4 million in shorts have been liquidated, far less than previous mass liquidation events. Bitcoin is currently trading at $59,061, down 1.80% in the last 24 hours.

Portfolio Pulse from Benzinga Neuro

July 05, 2024 | 2:59 pm

The first 2024 presidential debate has led to increased calls for President Joe Biden to step down, causing volatility in betting and prediction markets. Biden's poor performance and concerns over his age have resulted in a significant shift in betting odds, with Donald Trump emerging as a stronger favorite. Prediction markets like Polymarket have also seen a surge in activity, with Trump's odds increasing and Biden's decreasing.

Portfolio Pulse from Chris Katje

July 05, 2024 | 2:59 pm

Cryptocurrency markets are trading lower with Bitcoin, Ethereum, and Dogecoin all in the red. Bitcoin is struggling to maintain its $60,000 support level. Notable statistics include a drop in Bitcoin's large transaction volume and daily active addresses. Significant liquidations and open interest levels are also observed. CoinDCX has acquired BitOasis, marking its entry into the MENA market. Analysts predict potential further declines if Bitcoin breaks key support levels.

Portfolio Pulse from Khyathi Dalal

July 05, 2024 | 2:59 pm

Experts discuss the decoupling of Bitcoin and Ethereum from tech stocks, suggesting a maturing market. While the Nasdaq, led by Nvidia, continues to rally, Bitcoin and Ethereum remain range-bound. Rising expectations for Fed rate cuts could be bullish for crypto, but the upcoming U.S. election adds uncertainty.

Portfolio Pulse from Khyathi Dalal

July 05, 2024 | 2:59 pm

Capriole Fund founder Charles Edwards expressed skepticism about the practical uses of cryptocurrencies in 2024, highlighting Bitcoin hodling and meme coin gambling as the only active use cases. He criticized the current state of DeFi, NFTs, and other crypto applications, suggesting that Bitcoin, stablecoins, and futures arbitrage are the only high-value products.

Portfolio Pulse from Khyathi Dalal

July 05, 2024 | 2:58 pm

Ethereum's price has decreased by 3.07% over the past 24 hours to $3,303.62, continuing a downward trend over the past week. Despite the price drop, trading volume has increased by 23.0%, while the circulating supply remains stable at 120.19 million. Ethereum's market cap is currently $397.89 billion, ranking it #2.

Portfolio Pulse from Benzinga Insights

July 03, 2024 | 3:01 pm

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