Weekly market analytics

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05.07.2024
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A bloody week for cryptocurrencies and a sunny day for the stock market is coming to an end. Of the important economic dates, there was only unemployment in the US — 4.1% (expected 4% / and previously 4%). The market reacted positively to the data, as this is another reason to reduce the rate.

🔴⚔️ The cryptocurrency market is suffering from sales. The capitalization of digital assets fell by 11.4% when the figure fell below $2 trillion for the first time since February 2024. Between Thursday and Friday, liquidations amounted to just under $1 billion. The main reason for the stabbing was the distribution of Mt. assets. Gox to creditors. 47,229 BTC were moved today. The sales were also strengthened by the capitulation of BTC miners, long-term and medium-term holders.
Altcoin prices have returned to the beginning of 2023, some even reaching new lows.

🟢🦄 The stock market is in a pink pony world compared to cryptocurrencies. The S&P 500 again updated its all-time high and grew by 1.38%, and the Nasdaq by 3.04%. Shares stubbornly refuse to fall, despite many signals. Tesla shares rose in price (+22% for the week) after a magical reversal in people’s opinions about the company (from “everything is bad” to “yes, this is the best company!”).

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