Strategy, previously known as MicroStrategy, has revealed that it didn’t buy any Bitcoin last week. This development comes ahead of the company’s earnings report later this week. Meanwhile, the MSTR stock is up from its closing price last week. Strategy Didn’t Buy Bitcoin Last Week A Form 8-K filing with the SEC indicates that the
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Zodia Markets:- In a big funding update, Zodia Markets which provides institutional crypto trading and is backed by Standard Chartered, has raised $18.25 million in a Series A funding. The funding – as revealed today – saw participation from Circle Ventures, XVC Tech among others. With the funding, the firm will focus on geographic expansion
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Marc Fagel has dismissed speculation about closed-door meetings at the SEC surrounding the Ripple appeal. While Ripple confirmed it had taken steps to withdraw its appeal, the SEC has yet to announce a similar move. Fagel Debunks SEC Closed-Door Talks Former SEC lawyer Marc Fagel recently addressed speculation circulating on social media about purported closed-door
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Analysts are confident that Bitcoin is on a bullish breakout. They cite a potential uprise towards $130,000, provided it maintains a key support. In addition, subdued capital inflows imply that the rally can still gain further momentum before hitting a cycle where investor sentiment becomes overly optimistic. This cycle is known as the euphoria zone.
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As investors scan the horizon for early signals of a Bitcoin rally to $1 million, Bloomberg analyst Eric Balchunas has predicted that God candles will become a rarity. While price spikes will be few and far between, Balchunas noted that ETFs and corporate adoption will eliminate vomit-inducing drawdowns for the largest cryptocurrency. No More Bitcoin
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The crypto market went through major changes this week, starting with a bullish uptrend, then crashing and recovering at the end. For an average or new investor, this is too much instability, but experts know this is how the volatility of digital assets behaves. Notably, despite the ups and downs, the crypto investors remain greedy,
The post XRP vs ETH vs BTC: Which Crypto Leads the Market this Week? appeared first on CoinGape.
Ethereum is enjoying a rise in institutional interest with CME Futures open interest at an all-time high of $7.85 billion. Additionally, spot ETFs with ETH have recorded over $5 billion in net inflows in the last 16 days. Institutional Demand for Ethereum Soars Ethereum futures open interest on the CME has reached an all-time high
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Michael Saylor and Strategy (formerly MicroStrategy) have shown no signs of tapering their Bitcoin accumulation spree. Investors are bracing for an imminent BTC purchase announcement in the coming days amid ambitious plans to raise cash. Michael Saylor Posts Portfolio Tracker, Signaling Imminent Bitcoin Acquisition Strategy Executive Chairman Michael Saylor has posted the company’s portfolio tracker,
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Palantir has hit another major milestone in its meteoric stock rise. It’s now one of the 20 most valuable U.S. companies.
The provider of software and data analytics technology to defense agencies saw its stock rise about 3% on Friday to another record, lifting the company’s market cap to $375 billion, which puts it ahead of Home Depot and Procter & Gamble. The company’s market value was already higher than Bank of America and Coca-Cola.
Palantir has more than doubled in value this year as investors ramp up bets on the company’s artificial intelligence business and closer ties to the U.S. government. Since its founding in 2003 by Peter Thiel, CEO Alex Karp and others, the company has steadily accrued a growing list of customers.
Revenue in Palantir’s U.S. government business increased 45% to $373 million in its most recent quarter, while total sales rose 39% to $884 million. The company next reports results on Aug. 4.
Earlier this year, Palantir soared ahead of Salesforce, IBM and Cisco into the top 10 U.S. tech companies by market cap.
Buying the stock at these levels requires investors to pay hefty multiples. Palantir currently trades for 273 times forward earnings, according to FactSet. The only other company in the top 20 with a triple-digit ratio is Tesla at 175.
With $3.1 billion in total revenue over the past year, Palantir is a fraction the size of the next smallest company by sales among the top 20 by market cap. Mastercard, which is valued at $518 billion, is closest with sales over the past four quarters of roughly $29 billion.
Here are some charts that reflect our areas of focus this week at
Even though the Utilities SPDR (XLU) cannot keep pace with the Technology SPDR (XLK) and Communication Services SPDR (XLC), it is in a leading uptrend. XLU formed a cup-with-handle from November to July and broke to new highs the last two weeks. ETFs hitting new highs are in strong uptrends and should be on our radar.
In a tribute to Ozzy, metals are leading the way higher in 2025. The PerfChart below shows year-to-date performance for the continuous futures for 12 commodities. Copper, Platinum and Palladium are up more than 45% year-to-date, while Gold is up 28.38% and Silver is up 35.30%. QQQ is up 10.52% year-to-date, but lagging these metals. The other commodities are mixed.
The next chart shows 11 year bar charts for five metals. Gold broke out in early 2024 and led the metals move with an advance the last 21 months. Silver and copper broke out to multi-year highs. Platinum broke above its 2021 high and Palladium got in the action with an 18 month high. There is a clear message here: metals are moving higher and leading as a group.
The Home Construction ETF (ITB) hit its moment of truth as it rose to its falling 40-week SMA. Notice that ITB failed just below this moving average in August 2023. During the 2023-2024 uptrend, the 40-week SMA was more friendly as ITB reversed near this level in October 2023 and June 2024. ITB surged to the falling 40-week SMA in July, but the long-term trend is down and this area could be its nemesis.
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