Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
The SPDR S&P 500 ETF Trust (NYSE:SPY) has spent the last few days consolidating, but the rally is narrowing. This is a sign of weakness.
What To Know: In the second week of May, over 500 companies that trade on the NYSE made new 52-week highs. This week, less than 50 did.
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This is because as most stocks head lower, the investors who sold them look for safer havens. They tend to buy the big, well-known companies.
As a result, companies like Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOGL), and Facebook, Inc. (NASDAQ:FB) make all-time highs, while the majority of the other stocks that trade on the NYSE trend lower.
SPY has been consolidating or trading sideways.
Photo: Anthony Shkraba from Pexels
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.