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"According to the latest Bank of America Fund Manager Survey, the most crowded trade at the moment is still 'long big tech.' This has repercussions for the crypto market, not necessarily good ones," Noelle Acheson, author of the popular Crypto Is Macro Now newsletter, said in Thursday's edition. Source
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The development of applications leveraging distributed ledger and blockchain technology continues to advance, the report said. Source
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Despite the ongoing cryptocurrency bear market, investors have been increasingly looking at Bitcoin (BTC) as a safe haven, a new study suggests.The rise in the correlation between Bitcoin and gold (XAU) is one of the major indicators demonstrating investors’ confidence in BTC amid the ongoing economic downturn, according to digital
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Meta should address investor concerns about Instagram usage headwinds, spending on building the metaverse given the perceived lack of user traction, high capital expenditures that are impacting free cash flow (FCF), Reels content quality and margins and progress and a timeline for targeting improvements, the note added. Original Source
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Coincidentally, bitcoin's previous bull markets have peaked in December, paving the way for a price crash in the first quarter. And while the 2018 bear market ran out of steam in the last month of that year, bulls remained on the fence in the first three months of 2019 –
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The automatic conversion of other stablecoins could increase BUSD supply by $908 million, the bank said. Source
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Crypto investors are switching into stablecoins and out of more volatile assets due to uncertainty about the sustainability of the “bear-market bounce” and the potential for a hard recession in the U.S., Bank of America said. Original Source
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Ether’s (ETH) price jump from mid-July until mid-August may continue to fade as investors seek to better understand the implications of the Merge, Ethereum's tech upgrade that will transform it to a proof-of-stake network, along with future blockchain upgrades, Bank of America said in a note Friday. Original Source
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JPMorgan is less optimistic than Bank of America about the company in the near term. Source
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The transition also acts as a precursor for the “Surge,” the second of the planned upgrades, the note said. That will aim to improve Ethereum’s throughput from around 15 transactions per second (TPS) to about 100,000 TPS while reducing transaction fees, it added. Original Source
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