Tag Archives: Flash

The flash crash has not deterred institutional investors. Photo: AP Major cryptocurrencies were down on Wednesday morning as a flash crash in the price of bitcoin earlier this week wiped out over $200bn from the market. Bitcoin (BTC-USD) was down 1.7% to trade at $42,223 (£30,913) at the time of writing and is trading at levels not seen since August, while ethereum (ETH-USD) fell 8.3% and was trading at $2,920. “Over the last few days, bitcoin has been on a downward spiral after sentiment… Source link

This week’s “flash crash” that dragged bitcoin (BTC-USD) back below $50,000 — and sent other digital coins reeling in its wake — marred what should have been the momentous occasion of the first sovereign country on earth adopting a cryptocurrency as legal tender.  Despite the ugly price action, most of crypto’s true believers are still just that — even as some observers question bitcoin’s head-spinning volatility, and El Salvador’s decision to throw its weight behind it.  Michael… Source link

Bitcoin’s hasty retreat from $50,000 in the wake of El Salvador’s widely publicized move to allow the digital coin to be used as legal tender left many in the marketplace scratching their heads. In whipsaw trading on Wednesday, Bitcoin (BTC) was down by nearly 2% on the day, though off its steepest declines of the day. Since hitting its Mid-July low of $29,000, Bitcoin has rallied, hitting nearly $53,000 early Tuesday morning before plummeting to a low of $45,000. As investors mulled a “flash… Source link

Bloomberg Gas Is the New Coal With Risk of $100 Billion in Stranded Assets (Bloomberg) — Natural gas is falling out of favor with emissions-wary investors and utilities at a quicker pace than coal did, catching some power generators unaware and potentially leaving them stuck with billions of dollars of assets they can’t sell.Citigroup Inc. and JPMorgan Chase & Co. are among the banks that strengthened their financing restrictions on thermal coal under pressure from shareholders wanting to… Source link

(Bloomberg) — After weeks of grumbling, the world’s biggest bond market spoke loud and clear Thursday — growth and inflation are moving higher. The message wreaked havoc across risk assets. Benchmark 10-year Treasury yields catapulted to the highest in more than a year at over 1.6% and traders yanked forward their opinion of how soon the Federal Reserve will be forced to tighten policy. Equities tumbled, as higher borrowing costs put pressure on soaring valuations. Even Treasury Secretary… Source link