BITI Sep 2024 5.000 put
- Investing.com
Hodler selling and hawkish Fed put pressure on Bitcoin prices
Bitcoin came under pressure last week, trading as low as $65,000 on Friday, as on-chain metrics showed that Hodlers have been selling Bitcoin since early June, according to H.C. Wainwright. The bearish trend includes sales from miners, adding to the selling pressure amid a hawkish outlook from the Federal Open Market Committee (FOMC) on Wednesday. "Long-term holder selling may not be catalyzed by a specific event, but their buying and selling activity usually dictates short-term market movements as the wallets of large holders are closely tracked by the Bitcoin community," the report reads.
- Yahoo Finance Video
Tesla vs. Toyota: Kevin Paffrath compares automaker growth
Financial analyst and YouTuber Kevin Paffrath ("Meet Kevin") joins Market Domination to discuss Tesla's valuation as CEO Elon Musk touted the company's AI initiatives at Thursday's shareholder meeting. Paffrath believes there is a large difference between what Tesla is going to deliver versus what Elon Musk promises. He states that compared to Toyota (TM), Tesla has been on a downward trend: "The difference between the two companies is growth. I value Tesla at a PEG ratio [Price/Earnings-to-Growth] of 1.67, assuming we can get about 30% growth once we bottom out from here. Toyota's growing, in some years, it's projected to grow negatively, but more reasonably, it's growing somewhere between 5-6%, which is barely above the rate of inflation. So that's one of the reasons you see the valuation disparity." He adds, "I think you can go short, and people get mad at me for saying this, but it's just a hedge. It's a macro hedge. You go short bitcoin, you could use a fund like BITI (BITI). I'm not affiliated with them. It's a negative one. The reason for that is when risk assets sell off, Tesla goes down... you don't want to short the whole market for a hedge because that's not going to work. You specifically want an offsetting risk hedge." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl Catch up on Yahoo Finance's coverage of all things Tesla, Elon Musk, and his pay package saga: EV competitors like Ford, GM are 'scared' of Tesla: Investor 'Don't fire Steve Jobs': Tesla analysts react to approval of Elon Musk's pay package 'Hold on Tesla and wait,' don't buy right now: Strategist Tesla is in 'incredibly enviable' position for real-world AI Tesla is biggest market bubble in world history: Short seller Don't bet against Elon Musk: Dan Ives talks $1T Tesla call Elon Musk wins Tesla shareholder battle to keep his record-breaking pay Elon Musk has been integral to Tesla's growth, AI: Cathie Wood Musk's pay battle is not over. Here's why.
- Business Wire
ProShares Launches ETFs Targeting 2x and -2x Daily Ether Returns
BETHESDA, Md., June 07, 2024--ProShares expands lineup with ProShares Ultra Ether ETF (ETHT) and ProShares UltraShort Ether ETF (ETHD).
