Bulletin
Investor Alert

Distributed Ledger Archives | Email alerts

Nov. 27, 2021, 11:49 a.m. EST

Interest rate markets may have biggest impact on bitcoin in near term, this asset manager says

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Bitcoin USD (BTCUSD)
  • X
    Ethereum USD (ETHUSD)
  • X
    Dogecoin USD (DOGEUSD)

or Cancel Already have a watchlist? Log In

By Frances Yue

1 2

However, there are exceptions. Market participants may be “moving funds onto lending platforms, making a peer-to-peer sale, or tokenizing their BTC on other blockchains,” according to the report. 

India’s potential crypto ban 

According to the India parliament’s bulletin dated Tuesday , the government plans to introduce a bill, which seeks to build a framework for the creation of India’s official digital currency, in the parliament’s “Winter Session” starting Nov. 29. 

The bill also seeks to ban all private cryptocurrencies in India, but would allow “certain exceptions to promote the underlying technology of cryptocurrency and its uses,” according to the bulletin. 

John Kicklighter, chief strategist at research site DailyFX wrote to MarketWatch in an email that “the verbiage of the bill isn’t particularly clear, but the density of long-only speculative interests will naturally read into the risks associated with any regulation.” 

Mikkel Morch, executive director at crypto hedge fund ARK36 wrote that “what’s interesting is that the situation does underscore the fact that the adoption of cryptocurrencies around the globe has happened so fast that it has also given rise to a new set of challenges for governments and financial regulators.”

Crypto companies, funds

In crypto-related company news, shares of Coinbase /zigman2/quotes/225893452/composite COIN +7.80%  went down 4% to $299.6 Friday morning. It was down 7% for the past five trading days. Michael Saylor’s MicroStrategy Inc.  /zigman2/quotes/207732364/composite MSFT +2.76%  dropped 4.7% to $669 Friday morning. It was down 8% over the past five days.

Mining company Riot Blockchain Inc.  /zigman2/quotes/209538617/composite RIOT +7.58%  shares fell 4.4% to $35, while it gained 4.3% over the past five days. Shares of Marathon Digital Holdings Inc.  /zigman2/quotes/205886758/composite MARA +4.26%  plunged 7.4% to $48.5, contributing to a 5.4% loss over the past five days. Another miner Ebang International Holdings Inc.  /zigman2/quotes/219243771/composite EBON +0.49%  dived 9.8% to $1.51, with a 15.8% loss over the past five days.

Overstock.com Inc.  /zigman2/quotes/200022359/composite OSTK +2.31%  went up 1.6% to $94.3, while it was down 11.5% over the past five days.

Square Inc.  /zigman2/quotes/205989440/composite SQ +8.52% ’s shares inched down 1.4% to $213.1, with a 7.3% loss for the past five days. Tesla Inc.’s  /zigman2/quotes/203558040/composite TSLA +7.33%  shares went down 2.8% to $1,086, with a 1.07% loss over the past five days.

PayPal Holdings Inc.  /zigman2/quotes/208054269/composite PYPL +5.96%  inched up 1.3% to $191, while it recorded a 4.8% loss over the past five days, while NVIDIA Corp. /zigman2/quotes/200467500/composite NVDA +5.38%  went down 1.62% to $321.5, with a 1.38% gain over the past five days.

Advanced Micro Devices Inc.  /zigman2/quotes/208144392/composite AMD +3.55% went down 0.53% to $157 and notched a 1.8% return over the past five days.

In the fund space, ProShares Bitcoin Strategy ETF  /zigman2/quotes/230440344/composite BITO -1.87%  went down 5% to $34.7 Friday morning, while Valkyrie Bitcoin Strategy ETF  /zigman2/quotes/230473388/composite BTF -1.94%  declined 5.2% to $21.4. VanEck Bitcoin Strategy ETF /zigman2/quotes/230997909/composite XBTF -2.02% dropped 5.5% to $54.2.

Grayscale Bitcoin Trust /zigman2/quotes/203330852/delayed GBTC -0.42%  went down 4.6% to $44.3, with a 4.2% loss over the past five days.

Must Reads

/zigman2/quotes/225893452/composite
US : U.S.: Nasdaq
$ 75.32
+5.45 +7.80%
Volume: 14.11M
May 27, 2022 4:00p
P/E Ratio
6.62
Dividend Yield
N/A
Market Cap
$16.72 billion
Rev. per Employee
$1.93M
loading...
/zigman2/quotes/207732364/composite
US : U.S.: Nasdaq
$ 273.24
+7.34 +2.76%
Volume: 26.91M
May 27, 2022 4:00p
P/E Ratio
28.51
Dividend Yield
0.91%
Market Cap
$2043.57 billion
Rev. per Employee
$1.06M
loading...
/zigman2/quotes/209538617/composite
US : U.S.: Nasdaq
$ 7.24
+0.51 +7.58%
Volume: 14.39M
May 27, 2022 4:00p
P/E Ratio
37.17
Dividend Yield
N/A
Market Cap
$919.72 million
Rev. per Employee
$805,472
loading...
/zigman2/quotes/205886758/composite
US : U.S.: Nasdaq
$ 10.27
+0.42 +4.26%
Volume: 0.00
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.09 billion
Rev. per Employee
$21.45M
loading...
/zigman2/quotes/219243771/composite
US : U.S.: Nasdaq
$ 0.76
+0.0037 +0.49%
Volume: 819,537
May 27, 2022 4:00p
P/E Ratio
34.71
Dividend Yield
N/A
Market Cap
$143.10 million
Rev. per Employee
$196,375
loading...
/zigman2/quotes/200022359/composite
US : U.S.: Nasdaq
$ 32.31
+0.73 +2.31%
Volume: 1.26M
May 27, 2022 4:00p
P/E Ratio
13.66
Dividend Yield
N/A
Market Cap
$1.38 billion
Rev. per Employee
$1.95M
loading...
/zigman2/quotes/205989440/composite
US : U.S.: NYSE
$ 90.52
+7.11 +8.52%
Volume: 19.84M
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$52.55 billion
Rev. per Employee
$1.94M
loading...
/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 759.63
+51.90 +7.33%
Volume: 29.76M
May 27, 2022 4:00p
P/E Ratio
103.07
Dividend Yield
N/A
Market Cap
$786.98 billion
Rev. per Employee
$626,347
loading...
/zigman2/quotes/208054269/composite
US : U.S.: Nasdaq
$ 85.21
+4.79 +5.96%
Volume: 16.87M
May 27, 2022 4:00p
P/E Ratio
28.16
Dividend Yield
N/A
Market Cap
$98.68 billion
Rev. per Employee
$838,349
loading...
/zigman2/quotes/200467500/composite
US : U.S.: Nasdaq
$ 188.11
+9.60 +5.38%
Volume: 73.84M
May 27, 2022 4:00p
P/E Ratio
50.48
Dividend Yield
0.09%
Market Cap
$471.03 billion
Rev. per Employee
$1.31M
loading...
/zigman2/quotes/208144392/composite
US : U.S.: Nasdaq
$ 102.26
+3.51 +3.55%
Volume: 104.35M
May 27, 2022 4:00p
P/E Ratio
38.14
Dividend Yield
N/A
Market Cap
$165.71 billion
Rev. per Employee
$1.22M
loading...
/zigman2/quotes/230440344/composite
US : U.S.: NYSE Arca
$ 17.89
-0.34 -1.87%
Volume: 12.57M
May 27, 2022 4:00p
loading...
/zigman2/quotes/230473388/composite
US : U.S.: Nasdaq
$ 11.12
-0.22 -1.94%
Volume: 163,852
May 27, 2022 4:15p
loading...
/zigman2/quotes/230997909/composite
US : U.S.: Cboe BZX
$ 28.12
-0.58 -2.02%
Volume: 18,726
May 27, 2022 4:10p
loading...
/zigman2/quotes/203330852/delayed
US : U.S.: OTC
$ 18.96
-0.08 -0.42%
Volume: 3.97M
May 27, 2022 3:59p
loading...

1 2
This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.