BITCOIN VOLATILITY After bitcoin broke the $44,000 barrier last week for the first time since April 2022, the cryptocurrency fell around 5% to $41,611.00, hitting a low of $40,300 at one point during Sunday night. Ether, Solana’s SOL and Ripple’s XRP also dropped around 7%. Despite its recent slide, analysts expect bitcoin to have plenty of juice in the tank because a spot bitcoin exchange-traded fund seems to be on its way. Source: CNBC
MODEST MOVES U.S. markets rose Monday, with all three major indexes registering modest gains. Shares of Macy’s surged 19.44% on news the U.S. retailer had received a buyout offer of $5.8 billion. Asia-Pacific stocks rose Tuesday. Japan’s Nikkei 225 added around 0.19% as producer prices rose at a faster-than-expected 0.3% year-on-year. Hong Kong’s Hang Seng index rebounded off a one-year low to gain 0.65%. Source: CNBC
INDIA OVERTAKES HONG KONG India surpassed Hong Kong to become the seventh-largest stock market in the world. As of November, the total market capitalization of the National Stock Exchange of India was $3.989 trillion compared with Hong Kong’s $3.984 trillion, according to the World Federation of Exchanges. What’s more, India’s Nifty 50 index’s up 16%, while Hong Kong’s Hang Seng index’s has lost 17% so far this year. Source: CNBC