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FedEx said it is important to cut fiscal 2023 costs to align with weaker-than-expected volume.American transport company FedEx (NYSE: FDX) plans to cut more costs as lower demand continues to affect the company’s profits. FedEx said it would cut $1 billion more in cost as weak demand hurt its quarterly
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Bitcoin (BTC) bulls attempted to retake $17,000 into the Dec. 4 weekly close as volatility looked set to return to the market.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBollinger Bands demand BTC pricevolatilityData from Cryptox Markets Pro and TradingView showed BTC/USD crisscrossing the $17,000 mark — a focal point throughout the
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Data shows while Bitcoin has been correlated with the US stock market for some time now, the two haven’t moved in tandem recently. Bitcoin Correlation With US Stocks May Be Weakening As BTC Has Been Moving Differently As pointed out by an analyst in a CryptoQuant post, BTC has gone down in
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The European stock markets and the United States equities markets are both deep in the red on Aug. 22 as investors fear that aggressive rate hikes may not be off the table. Another thing keeping investors nervous could be the upcoming Jackson Hole economic symposium, which is scheduled to begin on
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According to the latest data from the Turkish Statistical Institute, the country’s annual inflation rate for the month of July was 79.6%, the highest in 24 years. Rising transportation costs, food and non-alcoholic beverages were some of the product categories that contributed to the overall rate increase. Transportation Costs Rose
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Cryptocurrency’s usage as a payment vehicle/exchange of value is what should drive its valuation in the long run. However, the market has been trading most cryptocurrencies like speculative risk assets, as evidenced by the correlation between bitcoin and equity markets in the last six months, the report said. Source
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In summary:Bitcoin is exhibiting a good level of bullishness above $11kHowever, Bitcoin’s correlation to stocks and gold could be a bad thing with the US elections two weeks awayA drop in the stock market and/or gold could mean a similar fate for Bitcoin in the short termThe end of the
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Bitcoin inventory is building on exchanges but there's a lack of buyers, according to a Chainalysis economist. Source
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Bitcoin has been stuck in the $9,000s for the past two months, trading between $8,500 and $10,000 for weeks on end.While the cryptocurrency has maintained the $8,500 support level on multiple occasions, a key indicator shows that the bullish momentum is weakening.Related Reading: Crypto Tidbits: BTC At $9k, Grayscale Ethereum
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