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.
Shares of technology and software companies, including Palantir Technologies Inc (NYSE:PLTR), are trading lower amid overall market weakness. Concerns over future Fed rate hikes have weighed on growth sectors while economic slowdown concerns have pressured market sentiment.
U.S. indices at large are also trading lower on continued weakness following comments from Federal Reserve Chair Powell suggesting a rate hike of 50 basis points is possible for May. The Fed has indicated it may move quicker on rate hikes to curb inflation.
Fed policy outlook, rising Treasury yields and quarterly earnings reports have dragged markets lower in April. Last Tuesday’s session saw a 3-year high of 2.940% for the 10-year note.
The 10-year note has risen from a low of 0.5% in 2020 to nearly 3.0% in April. In general, earnings years into the future are worth less today when interest rates rise. A rise in Treasury yields also correlates to a rise in bonds, which has the effect of dissuading cash from flowing into high-growth, high price/earnings stocks.
See Also: What's Going On With Microsoft Stock Today?
According to data from Benzinga Pro, Palantir Technologies is trading lower by 7.51% at $11.20. Palantir Technologies has a 52-week high of $29.29 and a 52-week low of $9.74.
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.
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