
Cryptocurrency Live News & Updates : Smart Money Faces $12.48M Losses on Altcoin Shorts
A smart money address, known as @ai_9684xtpa, is experiencing unrealized losses of $12.48 million after shorting various altcoins, following a recent market rally. In the latest cryptocurrency news, a smart money address has reported significant unrealized losses of $12.48 million due to short positions on altcoins, as the market has surged. Meanwhile, BNB has dipped below 760 USDT, showing only a slight increase of 1.23% in the last 24 hours. On a more positive note, the Blockchain Group has added 22 Bitcoin to its holdings, achieving an impressive 1,373% yield year-to-date, with its total BTC holdings now valued at $233.5 million. Bitcoin itself has seen a modest rise of 1.21% in the past day, trading close to the $120,000 mark. Additionally, the Thai SEC is considering easing testing requirements for retail crypto investors, aiming to reduce burdens while ensuring investment risks are aligned with product risks. Lastly, the Reserve Bank of Australia faces scrutiny as it holds interest rates steady despite weak inflation, with upcoming policy meeting minutes and a speech from Governor Bullock expected to provide clarity on future monetary policy decisions. These developments highlight the dynamic nature of the cryptocurrency market and regulatory landscape. Show more

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Economic Times
12 hours ago
- Economic Times
Meme-Stock Roar Fades on Wall Street as Retail Finds New Thrills
Meme stock surges, once symbols of rebellion, now elicit indifference as retail speculation becomes routine. It was once a symbol of rebellion against the well-heeled Wall Street establishment. Today, it's just another day in markets. This week proved the point. Opendoor surged 43% in a single day. Krispy Kreme rallied 39% in a matter of hours. GoPro briefly spiked 73%. Reddit message boards lit up once again with rocket emojis and call-option bravado. Yet it wasn't the magnitude of the surges that mattered — but the indifference they met. Customary warnings about speculative excess fell on deaf ears. What once felt seismic now feels like a normal part of daily trading — another episode in a US financial system where bursts of retail speculation are routine, expected, and largely unremarkable. By the end of the week, with the quick rallies faded, the broader market ended with modest moves after a record-setting run. Meanwhile, crypto — once cast as the financial resistance — continued its steady march into the mainstream. A new blockchain-based project involving the likes of Bank of New York Mellon Corp. and Goldman Sachs Group Inc. was announced. Crypto funds posted their biggest four-week cumulative inflow ever. Michael Saylor's Strategy clinched another $2.8 billion in capital markets to fund additional Bitcoin buying. Taken together, the week offered a broader lesson: retail-driven speculative behavior no longer signals generational angst or post-pandemic distortion. It has instead become a settled feature of the current cycle. Short-dated options are part of the retail toolkit, trading platforms span everything from sports betting to complex stock bets, and manic episodes rarely require justification to take hold. Peter Atwater, an adjunct professor at the College of William & Mary who studies retail investors, said the current wave of activity reflects a shift in both market sentiment and investment toolkit. Meme stocks trading, he says, has lost its sense of novelty — and that's precisely the point. 'We've normalized memeing,' he said. 'There's a yawn to it now.'In Atwater's view, the most aggressive traders have already moved on to riskier frontiers – digital tokens, leveraged ETFs, prediction markets — while meme stocks have become more of a cultural rerun. 'It's like 30-year-olds dancing to music 20-year-olds used to party to,' he meme stocks can rip without stimulus checks, lockdowns or zero rates isn't especially surprising anymore. It is, in its own way, a marker of the moment: everyday speculation, embedded in the architecture of modern markets. Contracts that expire within 24 hours made up a record 62% of the S&P 500's total options so far this quarter, according to data compiled by Cboe Global Markets Inc., with more than half of the activity being driven by retail trading.'This generation is far savvier about options and market structure,' said Amy Wu Silverman, head of derivatives strategy at RBC Capital Markets. 'While my generation was perhaps taught to 'buy a house' this one knows to 'buy the dip.''It's not happening in a vacuum. This week earnings season offered few surprises. Tariff deadlines slipped again. Noise from the White House blurred into the investment backdrop. The S&P 500 climbed 1.5% on the week and closed at a record high. And in the end, a group of volatile stocks became yet another playground where regular investors aimed to quickly turn a profit, often by cornering short sellers or leveraging options. Opendoor Technologies Inc., capped a six-day winning streak with a 43% pop on Monday. The following days saw stocks with high short interest such as Kohl's Corp., GoPro Inc., Krispy Kreme Inc. and Beyond Meat Inc. surge intraday then pare into the close. Competition for gambling dollars is more brisk than it used to be. Since the post-Liberation Day selloff, a Goldman Sachs basket of the most shorted stocks has jumped more than 60%. In credit, CCCs, the riskiest tier of the junk bond universe, are on track to rack up a seventh week of gains. Crypto funds took in $12.2 billion in the past four weeks, their biggest cumulative inflow for such period, according to Bank of America Corp. citing EPFR Global data. US leveraged-loan market just had one of its busiest weeks ever with junk-rated companies rushing to reprice their borrowings multiple while the latest frenzy was reminiscent of 2021's pandemic-era burst, there were a few key differences. This week's action was fleeting, lasting one or two trading days before petering out. Concerted campaigns in the options market played a smaller role. More than half of the top 100 stocks in the S&P 500 index were trading with inverted one-month call skew in 2021, a sign of bullish intent, according to Cboe. This week it got only as high as 21% for the group.'The market makers and institutions have really adjusted to this phenomenon,' said Garrett DeSimone, head quant at OptionMetrics. They're 'able to hedge their risk and they know how to price these options in across these scenarios,' he it signaled anything, enthusiasm for memes is more evidence that an ever-more-empowered retail cadre is a fact of Wall Street life that isn't going anywhere, at least not soon. 'I don't think it's the beginning of a new trend, but it is very interesting to watch because it speaks that the retail investor really wants to be involved in this market,' said Jay Woods, chief global strategist at Freedom Capital Markets. 'This is bullish. This is not bearish. This is not significant of a top.'


Time of India
12 hours ago
- Time of India
Meme-Stock Roar Fades on Wall Street as Retail Finds New Thrills
It was once a symbol of rebellion against the well-heeled Wall Street establishment. Today, it's just another day in markets. This week proved the point. Opendoor surged 43% in a single day. Krispy Kreme rallied 39% in a matter of hours. GoPro briefly spiked 73%. Reddit message boards lit up once again with rocket emojis and call-option bravado. Explore courses from Top Institutes in Please select course: Select a Course Category Project Management Digital Marketing Others Data Science Leadership MCA Technology Product Management Data Science PGDM Data Analytics Management Operations Management Artificial Intelligence Design Thinking CXO MBA Healthcare healthcare Degree Finance Cybersecurity others Public Policy Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Yet it wasn't the magnitude of the surges that mattered — but the indifference they met. Customary warnings about speculative excess fell on deaf ears. What once felt seismic now feels like a normal part of daily trading — another episode in a US financial system where bursts of retail speculation are routine, expected, and largely unremarkable. By the end of the week, with the quick rallies faded, the broader market ended with modest moves after a record-setting run. Meanwhile, crypto — once cast as the financial resistance — continued its steady march into the mainstream. A new blockchain-based project involving the likes of Bank of New York Mellon Corp. and Goldman Sachs Group Inc. was announced. Crypto funds posted their biggest four-week cumulative inflow ever. Michael Saylor's Strategy clinched another $2.8 billion in capital markets to fund additional Bitcoin buying. Taken together, the week offered a broader lesson: retail-driven speculative behavior no longer signals generational angst or post-pandemic distortion. It has instead become a settled feature of the current cycle. Short-dated options are part of the retail toolkit, trading platforms span everything from sports betting to complex stock bets, and manic episodes rarely require justification to take hold. Live Events Peter Atwater, an adjunct professor at the College of William & Mary who studies retail investors , said the current wave of activity reflects a shift in both market sentiment and investment toolkit . Meme stocks trading, he says, has lost its sense of novelty — and that's precisely the point. 'We've normalized memeing,' he said. 'There's a yawn to it now.' In Atwater's view, the most aggressive traders have already moved on to riskier frontiers – digital tokens, leveraged ETFs, prediction markets — while meme stocks have become more of a cultural rerun. 'It's like 30-year-olds dancing to music 20-year-olds used to party to,' he said. That meme stocks can rip without stimulus checks, lockdowns or zero rates isn't especially surprising anymore. It is, in its own way, a marker of the moment: everyday speculation, embedded in the architecture of modern markets. Contracts that expire within 24 hours made up a record 62% of the S&P 500's total options so far this quarter, according to data compiled by Cboe Global Markets Inc., with more than half of the activity being driven by retail trading. 'This generation is far savvier about options and market structure,' said Amy Wu Silverman, head of derivatives strategy at RBC Capital Markets. 'While my generation was perhaps taught to 'buy a house' this one knows to 'buy the dip.'' It's not happening in a vacuum. This week earnings season offered few surprises. Tariff deadlines slipped again. Noise from the White House blurred into the investment backdrop. The S&P 500 climbed 1.5% on the week and closed at a record high. And in the end, a group of volatile stocks became yet another playground where regular investors aimed to quickly turn a profit, often by cornering short sellers or leveraging options. Opendoor Technologies Inc., capped a six-day winning streak with a 43% pop on Monday. The following days saw stocks with high short interest such as Kohl's Corp., GoPro Inc., Krispy Kreme Inc. and Beyond Meat Inc. surge intraday then pare into the close. Competition for gambling dollars is more brisk than it used to be. Since the post-Liberation Day selloff, a Goldman Sachs basket of the most shorted stocks has jumped more than 60%. In credit, CCCs, the riskiest tier of the junk bond universe, are on track to rack up a seventh week of gains. Crypto funds took in $12.2 billion in the past four weeks, their biggest cumulative inflow for such period, according to Bank of America Corp. citing EPFR Global data. US leveraged-loan market just had one of its busiest weeks ever with junk-rated companies rushing to reprice their borrowings multiple times. And while the latest frenzy was reminiscent of 2021's pandemic-era burst, there were a few key differences. This week's action was fleeting, lasting one or two trading days before petering out. Concerted campaigns in the options market played a smaller role. More than half of the top 100 stocks in the S&P 500 index were trading with inverted one-month call skew in 2021, a sign of bullish intent, according to Cboe. This week it got only as high as 21% for the group. 'The market makers and institutions have really adjusted to this phenomenon,' said Garrett DeSimone, head quant at OptionMetrics. They're 'able to hedge their risk and they know how to price these options in across these scenarios,' he said. If it signaled anything, enthusiasm for memes is more evidence that an ever-more-empowered retail cadre is a fact of Wall Street life that isn't going anywhere, at least not soon. 'I don't think it's the beginning of a new trend, but it is very interesting to watch because it speaks that the retail investor really wants to be involved in this market,' said Jay Woods, chief global strategist at Freedom Capital Markets. 'This is bullish. This is not bearish. This is not significant of a top.'


Mint
14 hours ago
- Mint
The Bitcoin is full of contradictions. It could still climb some more.
Bitcoin is in the midst of another historic rally. Can it continue? Your guess is as good as anyone's. The bearish arguments, so far proved wrong by the market, haven't changed. The bullish arguments remain as mercurial—and contradictory—as ever. The original cryptocurrency is having another great year, with its price up more than 27%. On Friday, Bitcoin traded at $119,023, up 0.5% for the day, and only about 3% below its July 14 all-time high of $123,166. The price peg's Bitcoin's total market cap at $2.3 trillion. If Bitcoin were a stock, that would rank it sixth in the S&P 500, behind Google parent Alphabet and in front of Meta, according to FactSet data. Given all the excitement, Wall Street analysts are scrambling to put a target price on the surging asset. On Thursday, Citigroup Global Markets offered investors a framework for understanding Bitcoin's price, based on criteria like demand and macro-economic factors. But the result wasn't going to change many minds: Citi offered a bull case of $199,000, representing a gain of about 70% from today's price and a bear case of $64,000, suggesting a 50% decline. It's hard to blame Citibank's analysts for trying to cover their bases. So many of the arguments in favor of Bitcoin tend to fall back on themselves—and yet the price marches ever upwards. Take Bitcoin's latest price driver: Action in Washington. Last week President Trump signed the Genius Act, a bill designed to regulate stable coins, a form of cryptocurrency backed by real assets. Lawmakers may soon advance the Clarity Act, which is designed to resolve the question of whether regulators should treat cryptocurrencies as commodities or securities. There is even talk of crypto in 401(k)s. It's true those developments could all further mainstream adoption. Yet for anyone who has followed the crypto industry's rhetoric over the past decade, it's a little hard not to blanch at all the cheering over victories in Washington. The original aim of Bitcoin—and its cri de coeur—was to be a store of value whose price was immune to government meddling. Bitcoin's scarcity, amid the growing demand for digital assets, is another key explanation for the rally. But this argument is thorny too. Bitcoin boosters are fond of repeating that there will never be more than 21 million Bitcoins, while regular 'halvings" make Bitcoin less and less lucrative to mine. Meanwhile, demand for Bitcoin has skyrocketed in the past year thanks to the advent of spot Bitcoin exchange-traded funds, which make it far easier for mainstream investors to bet on the cryptocurrency. The largest of these, the iShares Bitcoin Trust, has grabbed nearly $38 billion in investor dollars in the past 12 months and nearly $6 billion in the last month alone. But can this potent mix of scarcity and demand continue? While the number of Bitcoins is fixed, there is no limit on the number of copy-cat coins. CoinMarketCap tracks more than 18 million coins, according to its website, with a total market value of $1.5 trillion. So far the SEC has cleared spot ETFs for only the two most valuable cryptos: Bitcoin and Ethereum. But boosters of offerings such as XRP, Litecoin and Solana are clamoring for their own spot ETFs. Washington's new crypto-friendly attitude suggests they will soon get them. Of course, a flood of new crypto ETFs won't necessarily dampen investors' appetite for Bitcoin. Bitcoin's status and mystique as the original crypto has so far ensured it remains more valuable than its many imitators. But the potential flood does suggest that hype, more than limited supply, is what supports Bitcoin's price. Arguments for why investors should own Bitcoin (other than price speculation) are also shaky. Unlike stocks and bonds, Bitcoin doesn't throw off any cash flows. No matter, supporters have long argued. Bitcoin still has a role in your portfolio as a store of value, a form of 'digital gold." It's a view that has led some large investing firms (including Bitcoin ETF sponsors BlackRock and Fidelity) to advocate investors should consider devoting at least a small share of their overall portfolio, say 1% to 2%, to Bitcoin, to boost diversification. The Bitcoin-as-diversifier notion mirrors the longstanding arguments made in favor of owning actual gold—but there are problems with this thesis too. It's true that returns for Bitcoin and gold have resembled one another over the past year. They are both in the midst of big rallies. But, then so are plenty of risk-on assets, notably U.S. growth stocks, led by big U.S. technology names. While gold isn't a perfect hedge against stock-market declines, its reputation as a haven during times of macroeconomic turmoil has been established by academic studies looking at decades of returns. Bitcoin, invented in 2008, boasts no such extensive record. In fact, one recent study (again by BlackRock) found that, although Bitcoin's volatility had recently lessened, the coin remained about four times more volatile than gold. When the next bear market comes it seems likely investors will flee speculative assets like Bitcoin and tech stocks, not run to them for shelter. Where will Bitcoin go next? Prices may continue to march higher, just because they always have. But the arguments in favor of still-bigger gains still don't give much confidence—making sense only if you close one eye and wish away all the contradictions. Write to Ian Salisbury at