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.
Apple Inc (NASDAQ:AAPL) shares are trading lower by 3.19% to $131.11 Thursday morning amid overall market weakness. The Federal Reserve Wednesday afternoon raised its target fed funds rate by 75 basis points to a new range of between 1.5% and 1.75%, its largest interest rate hike in 28 years.
“Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures,” the Fed said in a statement… Read More
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Following the Fed decision, the 10-year US Treasury yield has spiked, which has continued to pressure valuations in 2022. The 10-year Treasury yield hovered around a 5-year high of 3.495% Thursday morning before dipping to around the 3.398% level.
When key interest rates rise, the value of future cash flows is reduced for growth stocks, which in turn lowers the value of the stock.
See Also: Federal Reserve Raises Interest Rates by 0.75%, Hikes Inflation Estimates
According to data from Benzinga Pro, Apple has a 52-week high of $182.94 and a 52-week low of $128.46.
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.