Latest news with #profitTaking
Yahoo
9 hours ago
- Business
- Yahoo
Bitcoin Profit Taking Speeds Up Post Golden Cross, Hourly BTC Cashouts Top $500M, Blockchain Data Show
Bitcoin BTC holders have increased their profit-taking activity since the cryptocurrency's price averages flashed a key bullish signal two weeks ago. BTC's 50-day simple moving average (SMA) crossed above its 200-day SMA on May 22, confirming a golden cross – a technical indicator signaling bullish long-term momentum, according to data from TradingView. On the same day, bitcoin's price hit a record high above $111,000, according to CoinDesk data. Still, holders are increasingly locking in gains rather than holding for further upside, according to on-chain data tracked by Glassnode. "Entity-adjusted realized profit spiked above $500M/hour three times in the past 24 hours, signaling intense profit-taking activity," Glassnode said on X on Tuesday. The entity-adjusted realized profit represents the total USD profit of all coins that have been moved onchain, where the price at their last movement is lower than the latest transaction price. The chart shows the profit-taking activity has steadily increased since the second half of May, topping the $500 million mark several times. That's the most intense profit taking operation since early February. Other metrics, such as the entity-adjusted spent output profit ratio (SOPR), suggest the same. SOPR tracks the profit level of all moved coins during a given period. It's entity-adjusted version discards transactions between addresses of the same entity, providing a reliable indicator of real economic activity. "The recent ATH breakout has led to a notable uptick in profits locked in, with the average coin capturing a +16% profit. Fewer than 8% of trading days have been more profitable for investors, suggesting a meaningful transition into profit-taking activity is underway," Glassnode said in its weekly report. The report added that profit-taking is still not as intense as seen during prior major price-topping patterns. As of writing, BTC changed hands at $105,600 amid reports of President Donald Trump's Truth Social platform moving a step closer to offering a bitcoin exchange-traded fund to everyday investors. 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
Free Malaysia Today
27-05-2025
- Business
- Free Malaysia Today
Bursa ends lower on profit-taking in financial counters
KUALA LUMPUR : Bursa Malaysia ended lower as profit-taking in financial services counters weighed on the market, amid cautious sentiment across the regional markets. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said the FTSE Bursa Malaysia KLCI (FBM KLCI) extended its downtrend, weighed by continued foreign fund outflows for a sixth straight session, as investors remained risk-averse amid unresolved global trade tensions. 'This came despite comments earlier today from investment, trade and industry minister Tengku Zafrul Aziz, who suggested the US may revise its proposed tariffs on Malaysian exports to a lower baseline of 10% – a notable development that nevertheless failed to significantly lift market sentiment,' he told Bernama. 'The market retained a defensive posture, as uncertainties surrounding trade tariffs continue to cloud the outlook. 'This caution persisted despite constructive signals from European markets and limited cues from Wall Street, where investors were processing Trump's decision to defer the implementation of 50% tariffs on EU goods from June 1 to July 9,' he added. Meanwhile, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said key Asian markets ended mostly lower as investors are cautiously awaiting the latest developments on Trump's trade war. 'Market participants are growing uneasy as Trump's unpredictable policy announcements and proposed tax cut extensions undermine confidence in the US economy and drive US Treasury yields higher. 'On the domestic front, Malaysian equities remain attractive, supported by undervaluation, stronger corporate earnings, and an improving economic backdrop,' he added. 'Nevertheless, the FBM KLCI is likely to stay in a consolidation phase in the near-term, as cautious sentiment prevails amid rising global uncertainties,' said Thong. 'We expect the index to trade within the 1,520–1,550 range this week,' he said. At 5pm, the FBM KLCI slipped 8.14 points, or 0.53%, to 1,526.16 from yesterday's close of 1,534.30. The benchmark index opened 0.94 of-a-point higher at 1,535.24, and fluctuated between 1,521.93 and 1,535.41 throughout the day. In the broader market, decliners outpaced gainers 575 to 338, with 474 counters unchanged, 1,008 untraded and 17 suspended. Turnover declined to 2.65 billion units worth RM1.85 billion compared with yesterday's 3.12 billion units worth RM1.63 billion. Among heavyweight counters, Maybank shed 7 sen to RM9.85, Public Bank dropped 3 sen to RM4.38, CIMB lost 6 sen to RM6.90, and IHH Healthcare erased 1 sen to RM6.90, while Tenaga Nasional was flat at RM14. As for active stocks, Permaju dropped 1 sen to 2 sen, Sinaran Advance plunged 7 sen to 3 sen, SFP Tech fell 1.5 sen to 20.5 sen, Velesto eased 0.5 sen to 16.5 sen, while Tanco put on 1 sen to RM1.01. On the index board, the FBM Emas Index lost 58.63 points to 11,397.06, the FBMT 100 Index dipped 58.34 points to 11,160.37, and the FBM ACE Index slid 24.47 points to 4,573.60. The FBM Emas Shariah Index dropped 35.86 points to 11,354.12 and the FBM 70 Index shrank 80.05 points to 16,223.31. Across the sectors, the financial services index tumbled 122.40 points to 18,048.68, the industrial products and services index inched down 0.30 of a point to 153.44, the energy index eased 7.25 points to 698.66, while the plantation index gained 41.27 points to 7,376.64. The Main Market volume narrowed to 1.19 billion units valued at RM1.60 billion against yesterday's 1.23 billion units valued at RM1.34 billion. Warrants turnover slipped to 1.10 billion units worth RM134.59 million from 1.60 billion units worth RM198 million previously. The ACE Market volume expanded to 351.78 million shares worth RM109.53 million from 278.81 million shares worth RM86.35 million yesterday. Consumer products and services counters accounted for 287.32 million shares traded on the Main Market, industrial products and services (199.70 million), construction (180.42 million), technology (126.96 million), SPAC (nil), financial services (81.79 million), property (124.88 million), plantation (21.99 million), REITs (17.89 million), closed/fund (nil), energy (116.49 million), healthcare (38.17 million), telecommunications and media (44.55 million), transportation and logistics (16.94 million), utilities (41.41 million), and business trusts (20,000).
Malay Mail
16-05-2025
- Business
- Malay Mail
Bursa Malaysia eases 1.27 points as market moves into consolidation mode
KUALA LUMPUR, May 16 — Bursa Malaysia ended the week marginally lower in tandem with the negative performance of key regional indices on continued profit-taking as the market remains in consolidation mode, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.27 points, or 0.08 per cent, to 1,571.75 from Thursday's close of 1,573.02. The benchmark index opened 2.58 points higher at 1,575.60 and rose to a high of 1,580.06 in early trade before falling to a low of 1,568.70 during the afternoon session. In the broader market, losers trounced gainers 613 to 380, while 481 counters were unchanged, 922 untraded and eight suspended. Turnover declined to 2.91 billion units worth RM2.16 billion against 3.71 billion units worth RM2.74 billion on Thursday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index has entered into a short-term consolidation mode following the strong run-up earlier this week. 'Nonetheless, we remain optimistic as global funds are flowing into the region and Malaysia will benefit from the spillover effect,' he told Bernama. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan believes investor sentiment remained cautious, particularly in cyclical sectors which are more sensitive to the macroeconomic outlook following the release of Malaysia's gross domestic product (GDP) data today. Earlier, Bank Negara Malaysia announced that the Malaysian economy expanded by 4.4 per cent in the first quarter of 2025 (1Q 2025) against 4.2 per cent in 1Q 2024, driven by sustained household spending supported by favourable labour market conditions and government policies. 'This points to a soft landing scenario, underpinned by resilient domestic demand,' said Mohd Sedek. Among heavyweights, Maybank rose four sen to RM10.14, CIMB added two sen to RM7.18, Tenaga Nasional was flat at RM14.20, IHH Healthcare fell two sen to RM7.01, and Public Bank slipped one sen to RM4.50. For active stocks, both NexG and Magma bagged 1.5 sen to 37.5 sen and 41.5 sen respectively, West River added half-a-sen to 36 sen, Ekovest was unchanged at 39 sen, while Tanco increased 1.0 sen to 94.5 sen. On the index board, the FBM Emas Index dropped 27.97 points to 11,746.04, the FBMT 100 Index declined 26.88 points to 11,472.70, and the FBM Emas Shariah Index dipped 44.44 points to 11,674.18. The FBM 70 Index slid 108.77 points to 16,702.41 and the FBM ACE Index fell by 9.28 points to 4,765.86. Across sectors, the Financial Services Index put on 17.16 points to 18,487.65, the Industrial Products and Services Index eased by 0.11 of-a-point to 159.68, the Energy Index shed 7.96 points to 729.38, and the Plantation Index slipped 2.51 points to 7,385.59. The Main Market volume decreased to 1.40 billion units valued at RM1.90 billion against 1.82 billion units valued at RM2.40 billion on Thursday. Warrants turnover narrowed to 1.09 billion units worth RM134.46 million from 1.35 billion units worth RM172.47 million yesterday. The ACE Market volume dwindled to 415.63 million units valued at RM123.51 million versus 537.16 million units valued at RM169.20 million previously. Consumer products and services counters accounted for 226.28 million shares traded on the Main Market, industrial products and services (243.44 million), construction (132.94 million), technology (200.41 million), SPAC (nil), financial services (60.31 million), property (172.36 million), plantation (24.60 million), REITs (14.11 million), closed/fund (19,800), energy (127.58 million), healthcare (63.27 million), telecommunications and media (55.92 million), transportation and logistics (38.39 million), utilities (41.66 million), and business trusts (151,000). — Bernama
Free Malaysia Today
15-05-2025
- Business
- Free Malaysia Today
Bursa opens higher, retreats amid profit-taking
KUALA LUMPUR : Bursa Malaysia opened higher today but retreated thereafter, driven by mild profit-taking in selected heavyweights as Wall Street continued its uptrend, analysts said. At 9.20am, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.21 of-a-point to 1,539.33 from Monday's close of 1,539.54. The benchmark index was 1.10 points better at 1,540.64 at the opening bell. Turnover stood at 280.75 million shares worth RM104.53 million. Market breadth was negative, with 219 decliners outnumbering 142 gainers, 300 counters were unchanged, 1,674 untraded, and 17 suspended. Malacca Securities Sdn Bhd said that while overall sentiment on the Bursa may turn softer today, it expects buying opportunities to be seen within banking stocks as the Finance Index has risen around 10% from its April 9 low. 'Alliance Bank and Ambank could be in focus, as they have lagged behind peers despite healthy dividend yields,' it said in a note. Meanwhile, following continuous contract wins in Johor, and with prospects of replicating this success in Penang, the research firm believed there is a trading opportunity on ITMAX amid a downtrend line breakout. 'For a more conservative play, we remain positive on KPJ, as the company has minimal exposure to US tariff risks, while its solid management and brownfield expansion should provide further price support,' it said. Among heavyweights, Maybank and IHH Healthcare were flat at RM10 and RM7, respectively, Public Bank slipped 1.0 sen to RM4.46, CIMB declined 5.0 sen to RM7.03, while Tenaga Nasional rose 8.0 sen to RM13.88. In active trade, Permaju earned half-a-sen to 3.5 sen, Ekovest added 1.0 sen to 34 sen, while Jiankun and Velesto were flat at 3.0 sen and 15.5 sen, respectively. On the index board, the FBM Emas Index was 3.87 points weaker at 11,437.31, the FBMT 100 Index shed 6.09 points to 11,209.17, and the FBM Emas Shariah Index strengthened 12.39 points to 11,315.88. The FBM 70 Index trimmed 26.97 points to 16,105.52, and the FBM ACE Index decreased 14.19 points to 4,610.87. Across sectors, the Financial Services Index reduced 37.74 points to 18,238.43, the Industrial Products and Services Index eased 0.15 of-a-point to 151.64, the Energy Index inched down 0.81 of-a-point to 681.90, and the Plantation Index grew 13.05 points to 7,261.67.
Free Malaysia Today
13-05-2025
- Business
- Free Malaysia Today
Profit-taking pulls Bursa lower after opening higher
KUALA LUMPUR : Bursa Malaysia opened slightly higher today but retreated thereafter, driven by mild profit taking, amid renewed concern over the global economic outlook, an analyst said. At 9.22am, the FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.08 points to 1,547.82, down from Wednesday's close of 1,549.90. The benchmark index had opened 0.21 of-a-point higher at 1,550.21. Turnover stood at 389.23 million shares, valued at RM156.08 million. Market breadth was slightly negative, with 212 decliners outnumbering 198 gainers; 329 counters were unchanged, 1,612 untraded, and nine suspended. In a note today, Malacca Securities Sdn Bhd said traders will closely monitor China's consumer price index and producer price index data, while focusing on the recent development in trade policies to position themselves strategically. 'We expect the artificial intelligence (AI) theme to regain momentum following the Trump administration's plans to revise a set of chip trade restrictions called the 'AI diffusion' rule from Biden's era that restricts how US technology is exported overseas. 'Given Nvidia's positive moves amid potential revision to chip trade restrictions, buying interest should return locally, particularly in the technology sector,' it said. Among heavyweights, Maybank slipped 2.0 sen to RM9.98, CIMB fell 3.0 sen to RM6.92, IHH Healthcare declined 6.0 sen to RM6.94, while Public Bank rose 3.0 sen to RM4.50 and Tenaga Nasional was flat at RM14.16. In active trade, NationGate improved 9.0 sen to RM1.58, Jiankun earned half-a-sen to 3.0 sen, Pharmaniaga added 3.0 sen to 28.5 sen while Fibromat shed 8.5 sen to 46.5 sen. On the index board, the FBM Emas Index trimmed 12.49 points to 11,507.10, the FBMT 100 Index decreased by 11.37 points to 11,279.94, and the FBM Emas Shariah Index weakened by 29.45 points to 11,408.56. The FBM 70 Index went down 1.30 points to 16,242.94, and the FBM ACE Index declined by 4.16 points to 4,647.45. Across sectors, the Financial Services Index climbed 0.35 of-a-point to 18,188.96, the Industrial Products and Services Index eased 0.24 of-a-point to 152.05, the Energy Index reduced 1.20 points to 683.85 and the Plantation Index shed 33.48 points to 7,271.81.
