On March 24, a few weeks before he promised to buy Twitter, Elon Musk posted a survey on social media: "Twitter's algorithm should be open source," he wrote, with ways for users to vote "yes" or "no." Some Twitter technology is already open source, which means it is publicly available for anyone to ...
Amazon is facing legal consequences for its history of expelling protest participants. Reports that Judge Benjamin Green has ordered Amazon to reinstate warehouse employee Gerald Bryson, who was fired from his position at the JFK8 facility on Staten Island (recently voted for merger) after allegedly violating language policies during COVID security. -1...
Elon Musk is the second richest man in the world, with an estimated net worth of $ 155bn. He has founded some of the world’s most successful tech companies from PayPal to Tesla, and his voice weighs heavily on technology circles, but his influence on the crypto market is astoundi...
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The correlation between bitcoin BTCUSD, -3.25% and S&P 500 index SPX, -0.57% reached its highest level in history on Thursday, according to data fro` crypto intelligence company. Both assets fell the same day, after Wednesday's meeting, as Federal Reserve chairman Jeremy Powell said a 75-point increase was not on the table.
On Wednesday, the Federal Reserve raised the principal interest rate by half and said that June would begin issuing a multi-trillion dollar balance sheet.
"We think the sharp rise in prices on Wednesday was related to traders looking at the event, and the change reflects a lack of market confidence and economic stability, especially in comparison with the 1Q GDP decline," researchers bitcoin company NYDIG wrote in notes Friday.
The performance of the crypto market over the weekend is worth a look, as it may reflect market sentiment and suggestions on equity market guidelines on Monday, according to Jeffrey Halley, OANDA's chief market analyst.
John Kramer, marketing director at crypto GSR market maker, suffers from this point. "There have been cases where bitcoin is leading the equity market, sometimes being the first asset to be traded," Kramer said in a telephone interview.
As crypto trades 24 hours, seven days on the global market, "fund managers may turn to that if they need to step up to something first," Kramer said.
However, as the market takes a major turnaround this week, Kramer said he expects a quiet weekend.
Any negative upgrades over the weekend could send the bitcoin price up to $ 32,000, "setting Monday with a bad start," Halley wrote in a note on Friday.
If the risk level continues to decline, investors will be looking at $ 28,000 as the next level of support, notes Halley.
The US stock index ended Friday low, with the Dow Jones Industrial Average DJIA, -0.30% consuming about 99 points, or 0.3%, finishing Friday at 32,899, while recording a weekly loss of 0.2%. Marked Dow's sixth consecutive weekly loss.
