Latest news with #Traders
Globe and Mail
6 days ago
- Business
- Globe and Mail
Gold Is Bullish, But Be Aware Of Deeper Intraday Pullback; Elliott Wave Intraday Analysis
Good morning traders! USDollar Index - DXY remains under intraday bearish pressure at the start of the month and week, so we are definitely still bearish and expect more weakness, but it's early Monday and we may not see straight lines, thus still be aware of bigger or more complex intraday pullback before a bearish continuation. DXY could actually still be trading in subwave (b) and it can still see higher intraday resistance for subwave (c) of "ii", which can fill the GAP from May 18 before real bears show up. However, of course, if DXY breaks below 98 area decisively, then more weakness can be seen within wave "iii" of 5, unless it goes sideways for a higher degree bearish triangle in wave 4. Gold is coming nicely higher for wave subwave »c« of a projected three-wave abc corrective recovery in wave B and it's now testing key resistance, from where we may see another sell-off for a wave C of a higher degree wave (2), especially if we consider a new open GAP at 3925 level and then prevoius one at 3200 area, which can act as a strong support. However, if gold breaks straight above 3367 level decisively, then higher degree wave (3) can be already in full progress.
Yahoo
6 days ago
- Business
- Yahoo
Asia Morning Briefing: BTC Stalls at 105K as Analyst Says Market Looks 'Overheated'
Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. Bitcoin BTC is trading above $105K as Asia begins its business week. The world's largest digital asset remained relatively stable over the weekend, with a 0.4% movement, and trading volume was compressed. While overall market conditions remain bullish, a new report from CryptoQuant suggests that certain metrics indicate the BTC market is 'overheating.' The report shows bitcoin demand has climbed to 229,000 BTC over the past 30 days, approaching the December 2024 peak of 279,000 BTC. At the same time, whale-held balances have risen by 2.8 percent, a pace that often signals slowing accumulation. These indicators suggest the current rally, which pushed prices to a record $112,000, may be nearing a short-term top. The report highlights $120,000 as the next major resistance level, tied to the upper band of the Traders' On-chain Realized Price, where unrealized profits would hit 40 percent, a threshold that has historically marked local tops. While CryptoQuant's "Bull Score Index" remains strong at 80, signaling continued bullish momentum, rising profit margins, and peaking demand growth suggest traders may face a period of consolidation before the next leg higher. James Wynn Gets Liquidated, But Says He'll 'Run it All Back' James Wynn, a trader renowned for his aggressive, high-leverage bets on Hyperliquid, has been fully liquidated, leaving him with just $23 in his account after sustaining losses totaling more than $17 million, CoinDesk previously reported. Wynn, who attracted significant attention with trades involving bitcoin, memecoins like PEPE, and even obscure tokens such as FARTCOIN, first faced steep declines from a massive $1.25 billion long position on BTC, resulting in a loss exceeding $37 million after prices dipped below $105,000 amid geopolitical turmoil. Throughout the volatile month, Wynn rapidly cycled through trades, briefly netting an unrealized gain of $85 million before market swings wiped him out completely. An account associated with Wynn downplayed the dramatic liquidation, defiantly stating on X: "I'll run it back, I always do. And I'll enjoy doing it. I like playing the game. I took a large and calculated bet at making billions." Brazil's Méliuz Shares Sink 8% After Announcing $78M Equity Raise to Buy Bitcoin Brazilian fintech Méliuz plans to raise up to $78 million through a public equity offering, intending to allocate all proceeds to purchasing Bitcoin and positioning the cryptocurrency as a primary strategic asset in its treasury, CoinDesk previously reported. However, Méliuz's strategy hasn't impressed the market yet, as shares dropped more than 8% following the announcement. The initial offering includes 17 million common shares, with the potential to expand up to 51 million, and investors will receive subscription warrants allowing future stock purchases at set prices. Known for its cashback and financial services platform serving over 30 million users, Méliuz currently holds 320.2 BTC, having previously committed 10% of its cash reserves to Bitcoin in March. Trading for the subscription warrants is expected to commence on June 16, with share settlement and warrant issuance finalized by June 18. NYC Comptroller Rejects Mayor Adams' 'BitBond', Warns Deviating from Dollar Could Undermine City's Credit Reputation New York City's Comptroller Brad Lander sharply criticized Mayor Eric Adams' plan to issue municipal bonds backed by bitcoin, labeling the proposed "BitBond" as "legally dubious and fiscally irresponsible," CoinDesk previously reported. Lander rejected the idea just days after Adams introduced it at a bitcoin conference in Las Vegas, emphasizing that cryptocurrency's instability makes it unsuitable to reliably fund critical city projects such as infrastructure and affordable housing. Mayor Adams has actively promoted cryptocurrency initiatives since entering office, including converting his own paychecks into digital assets and establishing a digital asset advisory council. However, Comptroller Lander highlighted serious practical concerns with the BitBond proposal, noting federal tax laws and city financial regulations would make the proposal unworkable, and warned that deviating from the dollar-based municipal borrowing system could undermine investor confidence and New York City's credit reputation. BTC: Bitcoin showed resilience, staging a V-shaped recovery between $103,813.37 and $105,305.75 amid notable volume spikes. ETH: Ethereum formed a bullish reversal pattern, rebounding from strong support at $2,472.84 to $2,527.53 amid high-volume buying momentum, according to CoinDesk's Market Insight Bot. Gold: Gold climbed 0.6% to $3,311.66, as traders weighed its recent retreat from record highs against ongoing investor and central bank appetite driven by uncertainty over US tariffs and broader economic risks. Nikkei 225: Japan's Nikkei 225 dropped 0.89% as Asia-Pacific markets traded mixed following Trump's announcement of increased steel tariffs. S&P 500 Futures: Stock futures dipped Sunday to start June after the S&P 500's strongest month since November 2023, amid uncertainty over President Trump's tariffs following recent contradictory court rulings. Wintermute warns Pectra upgrade leaves Ethereum users at risk of automated attacks (The Block) Here's What's at Stake for Crypto in South Korea's Upcoming Election (Decrypt) JPMorgan's Jamie Dimon Says U.S. Should Stockpile Missiles, Not Bitcoin (CoinDesk) IMF Raised Concerns Over Pakistan's Plan to Allocate 2,000MW of Electricity for Bitcoin Mining (Local Report) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Age
30-05-2025
- Business
- The Age
Haymarket's revamped Paddy's Markets vowed to be a first-rate food hub. Did it deliver?
According to Hay St Market's website, the hub is all about 'eats, treats, beets, meats' and 'sweets'. Either the marketing team is especially excited about the root vegetables on offer or it meant to write 'beats'. A jazzpop- electro-doof soundtrack is incessant, but makes little sense with whatever Dad and Dave vibe they're trying to create around the Traders Bar area with its recycled lumber, wooden Schweppes crates and vintage scales. For reasons beyond speculation, there are also old Encyclopaedia Britannicas strewn around the bar. Who's reading 'Volume 12: Hydrozoa to Jeremy, Epistle Of' with their Jansz Cuvée? Management should research the City of Sydney's recycling guidelines instead. There are plenty of bins (and a lot of disposable cutlery and boxes), but I haven't found any receptacles to separate cans, plastic and cardboard. Even Westfield has recycling bins for PET's sake. I have, however, been served a very good martini on three occasions at Traders, which is stocked with some decent booze. You can then take that martini to The Fish + Chippery and down it with thick chips of noble crunch fried in beef tallow. They're not just the best thing I've eaten across six visits to Hay St Market, they're some of the best chips in town. I'll also bat for the vibrant pho at Luke Nguyen's noodle store, even if you can get twice the amount for the same price at many restaurants nearby. Wan Chai Wok's chow fun with shaggy, soy-seasoned beef is totally fine, as are most of Thomas Hay Bakery's pastries. The cannoli shop's cannoli do the job; barbecued Skull Island prawns at Little Midden have long savoury flavour; Scoop & Sons knows what it's doing with gelato.
Sydney Morning Herald
30-05-2025
- Business
- Sydney Morning Herald
Haymarket's revamped Paddy's Markets vowed to be a first-rate food hub. Did it deliver?
According to Hay St Market's website, the hub is all about 'eats, treats, beets, meats' and 'sweets'. Either the marketing team is especially excited about the root vegetables on offer or it meant to write 'beats'. A jazzpop- electro-doof soundtrack is incessant, but makes little sense with whatever Dad and Dave vibe they're trying to create around the Traders Bar area with its recycled lumber, wooden Schweppes crates and vintage scales. For reasons beyond speculation, there are also old Encyclopaedia Britannicas strewn around the bar. Who's reading 'Volume 12: Hydrozoa to Jeremy, Epistle Of' with their Jansz Cuvée? Management should research the City of Sydney's recycling guidelines instead. There are plenty of bins (and a lot of disposable cutlery and boxes), but I haven't found any receptacles to separate cans, plastic and cardboard. Even Westfield has recycling bins for PET's sake. I have, however, been served a very good martini on three occasions at Traders, which is stocked with some decent booze. You can then take that martini to The Fish + Chippery and down it with thick chips of noble crunch fried in beef tallow. They're not just the best thing I've eaten across six visits to Hay St Market, they're some of the best chips in town. I'll also bat for the vibrant pho at Luke Nguyen's noodle store, even if you can get twice the amount for the same price at many restaurants nearby. Wan Chai Wok's chow fun with shaggy, soy-seasoned beef is totally fine, as are most of Thomas Hay Bakery's pastries. The cannoli shop's cannoli do the job; barbecued Skull Island prawns at Little Midden have long savoury flavour; Scoop & Sons knows what it's doing with gelato.
Bloomberg
20-05-2025
- Business
- Bloomberg
Wolfspeed Put Options Surge Before Report on Bankruptcy Plans
Traders ramped up bearish bets Tuesday on Wolfspeed Inc., before the Wall Street Journal reported after regular market hours that the ailing chip component maker is preparing to file for bankruptcy protection within weeks.
