Tag

Relief Rally

All articles tagged with #relief rally

Bitcoin's Over-Exuberance Sparks Short Position and Uncertainty in Crypto Markets

Originally Published 2 years ago — by The Daily Hodl

Crypto analyst Nicholas Merten is shorting Bitcoin as he believes the recent surge is a relief rally trap and "over-exuberance" is spreading through the crypto markets. Merten thinks Bitcoin is likely running up against resistance at the $29,000 to $32,000 level and could decline in value soon. He believes Bitcoin is most likely following a similar pattern that started in June 2021, when it began a rally to a new all-time high and then collapsed. Bitcoin is trading at $30,470 at the time of writing, down nearly 1.50% in the last 24 hours.

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Stocks rise as central banks ease market fears and Amazon announces job cuts.

Originally Published 2 years ago — by CNBC

Stock futures rose slightly in overnight trading Monday after the market staged a relief rally on the hope that the banking turmoil would be contained. Investors now expect a slower pace of tightening from the Federal Reserve in light of the banking crisis. Traders now are pricing in a 77% chance of a quarter-point rate hike when the Fed wraps its two-day policy meeting on Wednesday. Markets have yet to price in a recession, and that could mean stocks take a big leg lower from here, according to Cantor Fitzgerald's Eric Johnston.

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