The violent move had more to do with hedge funds’ overcrowded bearish positioning getting wiped out than the company’s financial performance, one analyst pointed out.
Circle’s post-earnings surge nears 50% as short squeeze, not strong financials, fuels rally
The violent move had more to do with hedge funds' overcrowded bearish positioning getting wiped out than the company’s financial performance, one analyst pointed out.
Shares:
Multi-asset investment portfolios with allocations to bitcoin are consistently outperforming those that don't hold the cryptocurrency, the report said.
The funds will be used to expand the company’s credential verification system beyond employment into healthcare and education.
The headline news is sending markets, bitcoin included, lower, but isn't likely to derail the Fed from trimming interest rates next week.
A volume drop of such magnitude suggests traders and investors are losing interest or confidence, possibly due to uncertainty, fear, or waiting for better conditions.