The Bank of England cut its key interest rate from 4.5% to 4.25% on Thursday, marking its fourth reduction in the past year. The Bank considered a larger cut to 4%, out of concern that the global trade war could take its toll on England soon. Andrew Bailey, governor of the BoE, said he still sees potential for more cuts to come but could not predict when or by how much. Though Thursday’s decision was expected, the nine-person Monetary Policy Committee remained divided. Five voted for the cut, two supported a cut larger than 50 basis-point, while two preferred to…
Author: Lutfi Hanon
The Trump administration has pinned hopes on Treasury Secretary, Scott Bessent to revive stalled negotiations with China, as the trade war continues. Bessent is set to lead discussions with Chinese officials on Saturday, in Switzerland. Notably, this round of discussions will exclude key advisor, Peter Navarro. The Secretary said no trade deal will come from Saturday’s meeting but he hopes the talks will help ease tension between the two countries. China has agreed to engage in tariff discussions but is expected to adopt a tough stance. Meanwhile, U.S. President Donald Trump told reporters this week that he would not walk…
U.S. stocks rallied today while Bitcoin reached its highest point since February, after President Donald Trump announced that the Washington rand Downing Street decided on a trade agreement. The price of the leading cryptocurrency increased by more than 3%, reaching $99,379.72. Earlier, it climbed as high as $99,897.00. It comes after Trump teased the announcement of a U.S.- UK trade deal on Truth Social. In a subsequent post, he said the arrangement would “cement the relationship” between the two nations. Stocks initially rose broadly on this news, with the Dow Jones Industrial Average gaining about 300 points at one point,…
Bitcoin’s short-term holder (STH) cost basis may significantly influence near-term market trends. A decisive drop below this level could trigger substantial volatility. Bitcoin’s current STH cost basis is approximately $93,460, making it a critical point for market sentiment. Historically, drops below the STH realized price have often preceded capitulation phases, particularly affecting newer investors with thin margins. In 2022, Bitcoin breached its STH cost basis multiple times, leading to sharp sell-offs and liquidations. For instance, in May, the spot price fell to $30k while STHs were at $34k; in June, it cascaded to $25k against a $32k cost basis. Each…
Dogwifhat (WIF), a popular Solana-based memecoin, is currently at a pivotal point near a critical support level after experiencing a significant rally. According to CoinMarketCap, WIF recently saw an increase of over 75%, but it has struggled to maintain this upward momentum. As of press time, WIF was trading near $0.559, having dropped by 5.5% in the past 24 hours. This decline has caused fear among traders and investors, leading to reduced participation. Additionally, during the same period, WIF recorded a 40% drop in trading volume, which, combined with the price decrease, suggests weak bearish momentum. AMBCrypto’s analysis indicates that…
Shell Plc is reportedly working with advisors to assess the possibility of acquiring BP Plc. However, Shell is currently awaiting additional declines in both BP’s stock and oil prices before determining whether to proceed with a bid, according to individuals familiar with the matter. In recent weeks, Shell has engaged in more serious discussions with its advisors regarding the viability and benefits of a BP takeover, though these sources requested anonymity due to the confidentiality of the information. — new from Bloomberg.com
Warren Buffett, the 94-year-old chairman of Berkshire Hathaway, emphasized the importance of balanced trade during the company’s annual meeting, stating that trade should not be used as a weapon. Buffett argued that fostering global prosperity benefits everyone and criticized the notion of a few countries claiming superiority. Berkshire Hathaway has maintained a cautious stance toward markets, with its cash holdings reaching a record $347.7 billion in the first quarter. During the meeting, Buffett addressed shareholder concerns alongside vice chairmen Greg Abel and Ajit Jain. Buffett warned against federal budget deficits, calling them “unsustainable” and urging the U.S. government to address…
PARIS — French police successfully rescued the father of a wealthy cryptocurrency entrepreneur during a nighttime raid after he was taken hostage for ransom. This incident marks another alleged criminal attempt in France to extort individuals involved in digital asset management. The man was abducted on Thursday morning in Paris, according to the prosecutor’s office. The victim is the father of a man who amassed significant wealth through cryptocurrencies, and the incident involved a ransom demand, as stated in the official report without revealing names or further specifics. Police investigators traced the hostage to a house in the Essonne region,…
BONK has experienced an 8.67% decline over the past 24 hours, intensifying its weekly losses despite a 41% monthly gain. The cryptocurrency is now approaching a critical demand zone that could determine its next move. This demand zone, ranging between \$0.00001546 and \$0.00001405, represents a potential area for significant buy orders. If the demand level holds, it may lead to an upward trend. However, failure to hold this level could result in further declines toward \$0.00001178, \$0.00001043, or even \$0.00000888. Market sentiment currently leans bearish, supported by the Taker Buy/Sell Ratio, which indicates that 54.18% of traders are shorting BONK.…
U.S. stock futures declined slightly Sunday night following a strong week on Wall Street, where the S&P 500 achieved its longest positive streak in two decades. Futures linked to the S&P 500 dropped approximately 0.4%, while Dow Jones Industrial Average futures and Nasdaq-100 futures each fell by 0.3%. The broad market index advanced nearly 1.5% on Friday, marking its ninth consecutive day of gains — its longest winning streak since November 2004. This recovery erased all losses since April 2nd. The Nasdaq Composite gained 1.5% on Friday, and the Dow industrials rose nearly 1.4%. Market sentiment bolstered around optimism around…
