Bitcoin soars, officially surpassing the $71,000 mark, the highest level since the beginning of June 2024.
BTC price chart - 1 day | Source: TradingView
Futures contracts on the stock market were quiet on Monday night as investors prepared for major corporate earnings announcements, including reports from major tech names.
The Dow Jones Industrial Average contract fell 35 points. S&P 500 and Nasdaq 100 futures also changed little.
Ford Motor stock fell about 6% after the automaker issued a full-year guidance on the low side. On the other hand, VF Corp's stock rose 23% after reporting better-than-expected results.
These moves came after a winning session on Wall Street. Notably, the Dow blue-chip index ended a five-day losing streak, while the tech-heavy Nasdaq Composite recorded its eighth gain in the last nine sessions.
Stock investors seemed to welcome the drop in oil prices, which occurred after Israeli airstrikes on Iran did not target energy facilities as some had predicted. But the stock rally was capped as Treasury yields continued to rise.
"On the one hand, the current macroeconomic conditions are very favorable: sustainable growth, disinflation, stimulus and then relatively healthy earnings," Vital Knowledge founder Adam Crisafulli said on CNBC's "Closing Bell: Overtime".
Traders will be watching earnings reports from major companies, released on Tuesday, with the busiest week of the reporting season continuing. Pfizer and McDonald's will report results before Wall Street closes, followed by Alphabet, Snap, Reddit, Chipotle and Advanced Micro Devices after the market closes.
Tech giants Meta Platforms and Microsoft are expected to report on Wednesday, while Apple is scheduled for Thursday.
On the economic front, investors will monitor employment data and labor revenue, which will provide detailed information on the strength of the job market. Housing statistics and consumer confidence data are also expected to be released on Tuesday.
Bit recorded its third consecutive day of gains as the bulls successfully pushed the price above the psychological $70,000 level and then approached the $71,000 area.
The top asset hit a local high of $71,587, the highest level since June 07.
Bit is currently trading around $71,350 as investors continue to push the price higher.
Bit price chart - 4 hours | Source: TradingView
Altcoins are awash in green as Bit officially surpasses $71,000.
Many major projects in the top 100 have recorded double-digit gains, such as: Dogecoin (DOGE), THORChain (RUNE), MogCoin (MOG), Bitcoin SV (BSV), Brett (BRETT), FLOKI (FLOKI), Popcat (POPCAT), Sui (SUI), Shiba Inu (SHIB), Ethena (ENA),...
Source: Coin360
Ethereum (ETH) has grown for the third consecutive day and is currently trying to regain the $2,600 level, with a gain of nearly 5% compared to 24 hours ago.
ETH is currently trading around $2,605.
ETH price chart - 1 day | Source: TradingView
You can view coin prices here.
Join Telegram: https://t.me/tapchibitcoinvn
Follow Twitter (X): https://twitter.com/tapchibtc_io
Follow Tiktok: https://www.tiktok.com/@tapchibitcoin
Viet Cuong
Bitcoin Magazine
