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.
For those who thought last week was action-packed with U.S. indices to new all-time highs, the TNX dipping to 1.26%, levels we haven’t seen since February, and crude oil spiking to 6-year highs – hold on to your hats because you haven’t seen anything yet.
It’s a busy week ahead for traders and investors with earnings, economic data, Powell speaking at his semiannual testimony to Congress, and global central bank activity to keep an eye on. First, it’s time again to shift our attention to quarterly results; this week, the banks kick things off with JPMorgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), and Bank of America (NYSE:BAC). Also, don’t forget about PepsiCo (NASDAQ:PEP) and Conagra (NYSE:CAG). Next on the list of potential market movers, we have the WASDE report to begin the week, Fed Chair Jerome Powell speaking, CPI, PPI, a couple of bond auctions, multiple Fed speakers, and lastly, the retail sales data which is due out Friday morning.
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This week the Bank of Canada, the Bank of Japan, and the Reserve Bank of New Zealand are being watched as a precursor to next week’s FOMC and ECB meetings. We also have the OPEC and the IEA both providing traders with monthly oil reports. And as if that all wasn’t enough, we still have some interesting divergences to keep an eye on, like crude and the /ES, which continue higher while copper is limited to the upside as of recent.
Additionally, keep a watch on rates here in the U.S., as the move lower last week has many wondering if recent inflation concerns have been misconceived, possibly unfounded. Maybe the Fed is right, after all, they’ve been adamant about how the recent rise in commodities prices and other inflationary pressures will be temporary. These are just a few of the highlights this week, so buckle up, it could be another bumpy ride.
Image by StockSnap from Pixabay
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.