Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Quick Read
-
Bitcoin‘s first weekly close above the 50-week moving average in 45 weeks triggered a $300 million short squeeze, lifting MSTR 7%.
-
Oil falling for four straight sessions eased inflation fears, dropped Treasury yields, and lifted crypto-equity proxies MARA 6% and COIN 5%.
-
ETF inflows of just $6 million and failed crypto legislation mean the rally rests entirely on Bitcoin clearing $85,000 and oil staying soft.
-
Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and MicroStrategy didn’t make the cut. Enter your email to see the names that beat MSTR. The report is free. Enter your email and see if any of your stocks made the cut.
Bitcoin (CRYPTO:BTC) is trading at $84,702, up 5.3% in the past day after hitting $85,000 for the first time since January. Ethereum (CRYPTO:ETH) rose 5.4% to $2,724, XRP (CRYPTO:XRP) climbed 6.4% to $1.47, and Solana (CRYPTO:SOL) rose 6.6% to $115.
Meanwhile, BNB (CRYPTO:BNB) is up 3.9% to $781, Zcash (CRYPTO:ZEC) gained 4.5% to $1,505, Hyperliquid (CRYPTO:HYPE) rose 4.7% to $95, and Monero (CRYPTO:XMR) increased by about 13%. Overall, the entire crypto market is in the green.
Just days earlier, on September 16, the Fed raised interest rates, a day after the Senate blocked the CLARITY Act, while Bitcoin was hovering around $76,000. So, what changed? The answer lies in three main factors that developed between September 18 and September 21: a drop in oil prices, a strong weekly close for Bitcoin, and a surge in short sellers.
Oil Fell for a Fourth Day and Pulled the 10-Year Yield Below 5%
Brent crude oil fell for the fourth consecutive day on September 21, reaching about $102. This is the longest losing streak for oil in three months, having peaked at $108 in mid-September. Oil is a key factor in inflation, and when its price drops, traders believe inflation will ease.
Why Didn’t MSTR Make The Top 10 List?
24/7 Wall St has helped investors make money for over two decades, and our top analysts just finished ranking the definitive Top 10 Stocks To Buy Now. Not the ten biggest companies. Not the ten everyone is arguing about. The ten best stocks to buy right now.
And MSTR didn’t make the cut!
The report is free, and you can see why we think each stock is a top investment today.
This leads them to buy Treasuries, causing the yield on 10-year bonds to fall. The yield had climbed above 5% in mid-September but dipped back below it as oil prices dropped.
Source: finance.yahoo.com