A Bitcoin ETF Comes into the World
Degenerate Business School
English - October 24, 2021 21:00 - 27 minutes - 19.2 MB - ★★★★★ - 16 ratingsInvesting Business News Business News Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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In Tech, SNAP falls ~27% after slashing its revenue guidance, citing the impact of Apple's privacy guardrails. With it, Facebook sheds its progress on the week as worries brew over advertising business models tethered to Apple's ecosystem.
Otherwise, the Nasdaq ebbs closer to all time highs as sentiment improves. All this as US 10-year treasury rates scrape 1.7%. Which means inflation is fully baked perhaps? And for MegaTech it no longer matters.
But all eyes turn to the price action in Crypto. Bitcoin rides the release of a futures ETF to a new all time high of $66k, before pulling back on Friday as the frenzy cools. Ethereum likewise matched it's all time high of ~$4k. Will we see a further pullback on an otherwise parabolic arc?
This week's chart: Bitcoin
BTCUSD