Bitcoin plunged sharply to around $69,000 after closing October in the green.
Nasdaq 100 futures contracts rose on Thursday night as traders analyzed key earnings reports ahead of a crucial jobs report.
Futures contracts linked to the tech-focused index rose 0.3%. Dow Jones Industrial Average futures edged up 4 points and S&P 500 futures gained 0.1%.
Amazon shares rose more than 5% as strength in advertising and cloud businesses propelled the e-commerce giant to beat Wall Street's earnings expectations. Intel jumped more than 7% after beating analysts' revenue forecasts and providing strong guidance.
These moves came after a dismal trading session on Thursday, where the S&P 500 and Nasdaq Composite were pulled down by declines following earnings from Microsoft and Meta Platforms. Both indexes recorded their worst trading day since early September.
Meanwhile, the Dow lost more than 300 points as reports from Microsoft, Intel and Amazon made big tech investors nervous.
Thursday also marked the end of a losing trading month, a negative sign in the context of an otherwise strong year. The Dow led the major indexes with a 1.3% decline, while the S&P 500 and Nasdaq fell 1% and 0.5% respectively.
Investors are watching Friday for jobs data. Economists surveyed by Dow Jones expect nonfarm payrolls to have increased by 100,000 in October, which would be the smallest gain in nearly four years. The unemployment rate is expected to hold steady at 4.1%.
On the earnings front, traders will monitor reports on Friday from Chevron and Exxon Mobil, capping off the busiest week of the reporting season, with nearly a third of S&P 500 companies having reported.
Bit officially closed October in the green just above the $70,000 mark with an 11% gain, the second consecutive month of growth.
However, the top asset has since quickly adjusted to around $69,000 at the moment.
BTC has also recorded a decline for two consecutive days since hitting a local peak above $73,000 on October 29.
The Altcoin market was on fire yesterday.
Immutable (IMX) was the worst performer, plunging more than 12% and wiping out all of its recent recovery gains.
The decline came after the project received a Wells Notice from the SEC. In a statement released on November 1, Immutable said that while the SEC has not specified the exact allegations in the notice, the company believes the allegations relate to "the listing and private sale" of their IMX token in 2021.
Other top 100 projects like ApeCoin (APE), Lido DAO (LDO), Popcat (POPCAT), Pendle (PENDLE), Aave (AAVE), Dogwifhat (WIF), Brett (BRETT), Chainlink (LINK), Helium (HNT), Arweave (AR), Stacks (STX), Starknet (STRK), The Graph (GRT), Axie Infinity (AXS), Aptos (APT)... lost 5-8% in value.
Ethereum (ETH) saw a sharp decline yesterday, ending a five-day winning streak.
ETH plunged more than 5% to around $2,514 at the moment. However, the bulls are still trying to keep the price above the crucial psychological level of $2,500.
You can view the coin prices here.
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Viet Cuong
Bitcoin Magazine
