News of cryptocurrencies of the 1st week of March 2024⚡️
As always, our blog contains a selection of the most interesting news for this week 🪙
👉 The Bitcoin rate exceeded $70,000, Ethereum reached $4,000, the struggle between BNB and SOL for the Top 4.
• New Bitcoin High: $70,000 • Ethereum approaches $4000 • Fight for Top 4: BNB vs SOL • Tether Announces Launch of USDT Recovery Tool • Durango update and Teleporter tool on the Avalanche network • Do Kwon gets his extradition to the US overturned • Stanford Blythe Fund Moves 7% of Its Portfolio to Bitcoin
News of cryptocurrencies of the 1st week of March 2024⚡️
As always, our blog contains a selection of the most interesting news for this week 🪙
👉 The Bitcoin rate exceeded $70,000, Ethereum reached $4,000, the struggle between BNB and SOL for the Top 4.
• New Bitcoin High: $70,000 • Ethereum approaches $4000 • Fight for Top 4: BNB vs SOL • Tether Announces Launch of USDT Recovery Tool • Durango update and Teleporter tool on the Avalanche network • Do Kwon gets his extradition to the US overturned • Stanford Blythe Fund Moves 7% of Its Portfolio to Bitcoin
The Singapore stock market has alternated between positive and negative finishes through the last five trading days since the end of the two-day winning streak in which it had added more than a dozen points or 0.4 percent. The Straits Times Index now sits just above the 3,060-point plateau and it's likely to see a narrow trading range on Monday.
Spiking bond yields driving sharp losses in tech stocks
A spike in interest rates since the start of the year has accelerated a rotation out of high-growth technology stocks and into value stocks poised to benefit from a reopening of the economy. The Nasdaq has fallen more than 10% over the past month as the Dow has soared to record highs, with a spike in the 10-year US Treasury yield acting as the main catalyst. It recently surged to a cycle high of more than 1.60% after starting the year below 1%. But according to Jim Paulsen, the Leuthold Group's chief investment strategist, rising interest rates do not represent a long-term threat to the stock market. Paulsen expects the 10-year yield to cross 2% by the end of the year.
A spike in interest rates and its impact on the stock market depends on the economic backdrop, according to Paulsen. Rising interest rates amid a strengthening economy "may prove no challenge at all for stocks," Paulsen said.
