tl;dr
Bitcoin has fallen by 6% over the past 30 days, while the Nasdaq Composite and S&P 500 Index have gained 3.7% and 4% respectively. There are speculations about Wall Street's bearish selling pressure on crypto prices, potential selling by Bitcoin miners to cope with rising industrial electricity cost...
Bitcoin's price has dropped by 6% over the past 30 days, while the Nasdaq Composite and S&P 500 Index have gained 3.7% and 4% respectively. Speculations arise about Wall Street's bearish selling pressure on crypto prices, potential selling by Bitcoin miners to cope with rising industrial electricity costs, and the impact of the Fed cutting rates on Bitcoin's price.
Goldman Sachs economist anticipates a 25-50 basis point cut, citing the high fed funds rate and progress on inflation in the US. Historical trends suggest that low-rate macro environments have correlated with substantial Bitcoin gains. Additionally, there is a mention of past Bitcoin supply cycles and their correlation with monetary policy. The content also includes sponsored offers for cryptocurrency exchanges.
Will the bulls be back after the spigots turn up the overnight cash markets? Is Wall Street putting bearish selling pressure on crypto prices with outflows from the Bitcoin ETFs and going shopping with the money for NVDA, TSMC, and ASML to just bet on the chips and let Reddit users figure the rest out? Are Bitcoin miners selling to keep up with rising industrial electricity costs since April?
Goldman Sachs chief economist Jan Hatzius stated, "I wouldn’t rule out 50 basis points, but 25 basis points strikes me as more likely. I think there is a solid rationale for doing. And the rationale is that five and three-eighths, five and a quarter to 5.5% is a really high fed funds rate. It’s the highest policy rate in the G10.”
Past low-rate macro environments have correlated with massive Bitcoin gains. The US benchmark interest rate is a macro tide that raises big boats like hot Wall Street stocks and Bitcoin’s decentralized Internet economy. As the Fed walked the rate up, Bitcoin settled back down to 2x its pre-pandemic level. By late 2023, the Fed simply stopped raising rates and BTC went berserk.
Three past Bitcoin four-year supply cycles saw enormous rallies with peak prices 12 – 18 mos. after the halving. The most recent Bitcoin halving took place on April 19.
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More about Sun Communities Inc
Sun Communities Inc
Industry: Real Estate & Construction
Sector: Real Estate Investment Trusts
Market Cap: $19.13 billion
Stock Price: $283.81
Dividend Yield: 3.74%
P/E Ratio: 0.52
EPS: $25.99
Beta: 0.0199
Volume: 3,211,100,000
Short Ratio: 140
ROE: -41.7%
Revenue Per Share: $0.003
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Alpha Pro Tech Ltd Summary
Alpha Pro Tech, Ltd. develops, manufactures, and markets a range of disposable protective garments, infection control, and construction products in the United States and internationally. The company is headquartered in Markham, Canada.
Sector: LIFE SCIENCES
Industry: ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES
Market Cap: 63355000
Current Price: 13.83
Dividend Yield: None
P/E Ratio: 0.41
EPS: 5.33
Beta: 0.0771
Volume: 61090000
Avg. Volume: 16.75
EPS Growth: 0.545
Revenue Growth: 0.011