Tesla Stock Surpasses $1,200 — Now 30% Higher Than Bitcoin Market Cap

The stock price of Tesla (TSLA) surpassed $1,200 in pre-market, achieving a market capitalization of over $220 billion. Now, the most valuable car company in the world is worth 30% more than the entire market cap of Bitcoin (BTC), the biggest and most popular cryptocurrency in the world.  Tesla overtook Toyota to become the highest-valued car manufacturer in the global market. It now looks to establish its dominance in the sector as its stock continues to soar. The stock price of Tesla surpassed $1,200 in pre-market. Source: CNBC Catalysts sending…

Bitcoin is At Mercy of S&P 500, as “Fragile” Stock Market is at Risk

Bitcoin faces a critical second half of the year as its correlation with the S&P 500 index nears 43 percent. While both markets have rallied impressively from their March 2020 lows, they are far from confirming a  V-shaped recovery due to resurgence in the COVID cases. Meanwhile, the Federal Reserve’s fiscal support measures are ending in July, further raising the possibilities of a downside correction in the S&P 500 and Bitcoin. A bearish stock market now appears bad for Bitcoin. The analogy pops after the S&P 500’s growing proximity with…

Wells Fargo Expects a Stock Market Sell-Off — Will Bitcoin Price Follow?

Wells Fargo anticipates U.S. corporate pensions will move $35 billion into fixed income. Analysts believe this may cause a sharp sell-off in the stock market and given the correlation between Bitcoin and stocks, this could leave BTC vulnerable for a pullback. KKM Financial managing director Dan Deming also warned that increased volatility in the stock market could lead various risk-on assets to slump. Will Bitcoin drop alongside stocks?  The correlation between Bitcoin and the S&P 500. Source: Skew Since late March the price trend of Bitcoin and the S&P 500…

Stock Market Crash Threatens Bullish Bitcoin Consolidation Sub-$10K

Bitcoin (BTC), the biggest cryptocurrency by market capitalization, is trading at $9,375 representing a 0.2% loss in value in the last 24 hours and the same for today’s session. The wider crypto market is generally following Bitcoin, with Ethereum’s Ether (ETH) down around 0.27% and XRP underperforming but still relatively flat down less than 1% at $0.19 XRP. Meanwhile, Bitcoin dominance remains flat at 65% after a strong couple of weeks by the alts. Cryptocurrency market 24-hour view. Source: Coin360 1-week chart The 1-week chart for Bitcoin shows seven weeks of…

Bitcoin Price Dips Below $9K Amid Heavy Stock Market Futures Losses

Bitcoin (BTC) dropped below $9,000 on June 15 as a new week produced fresh selling pressure across macro assets. Cryptocurrency market daily overview. Source: Coin360 Bitcoin price tests $9,000 resilience Data from Cointelegraph Markets and CoinMarketCap showed BTC/USD entering the $8,000 range in Monday trading — for the first time since May 28. The latest bearish move follows a difficult week for Bitcoin in which markets almost regained $10,000 before shedding $800 in a matter of hours on Thursday. After spending the weekend at around $9,400, support gave way once…

3 Reasons Why Bitcoin Price Could Crash if US Stock Market Collapses

Experts in the financial market and the crypto industry foresee a major stock market correction unfolding in the short term. Given the high correlation of Bitcoin (BTC) with stocks observed in the past three months, there is a strong possibility that Bitcoin could follow suit. The United States stock market has seen extreme volatility after the Dow Jones Industrial Average dropped by around 7% on June 11, led by double-digit drops of airline stocks. A confluence of three factors is seemingly triggering sizable volatility in the stock market: uncertainty around…

Tesla Stock Soars Above $1,000, Surpassing Bitcoin’s Market Cap

Today the value of Tesla stock set a new record high at $1,027, bringing the market capitalization to $188 billion, and also surpassing the total market cap of Bitcoin (BTC), which hovers at $181 billion. While the value of Tesla stock and Bitcoin price are not interconnected, there is a symbolic comparison between the two as the same investor FOMO which drove several Bitcoin rallies in the past appears to be present in the stock market. The stock price of Tesla hits an all-time high. Source: Tradingview Will the FOMO…

German Stock Exchange Xetra Will Launch a Bitcoin ETP by End of June

One of Germany’s largest exchanges will list a Bitcoin ETP, targeted at investors in traditional finance. Key Takeaways Xetra’s ETP allows investors to invest in Bitcoin without dealing with blockchain technology or wallets. The Bitcoin ETP can be settled for Bitcoin or cash. Other international exchanges offer similar Bitcoin ETPs. Share this article Deutsche Börse’s Xetra, a Germany-based digital stock exchange, plans to list a Bitcoin Exchange-Traded Product or ETP. The ETP allows investors to invest in BTC in the same way that they might invest in traditional financial assets.…

German Stock Exchange Will List Bitcoin ETP

London-based ETC Group will list the first crypto exchange-traded product on Germany’s Xetra digital stock exchange this month. Traders in the UK, Italy and Austria will also be able to deal in shares of the new product. According to ETF Stream, the ETC Group announced on June 9 that Bitcoin Exchange Traded Crypto (BTCE), an exchange-traded product (ETP), will launch on Deutsche Börse Xetra after it receives approval from German financial regulators.  BTCE tracks the price of Bitcoin (BTC) and is physically backed by the cryptocurrency. The Bitcoin will be…

Mining Hardware Maker Canaan Looks to Issue $12.4M in Stock to Employees

Cryptocurrency mining application specific integrated circuit (ASIC) producer Canaan filed with the U.S. Securities and Exchange Commission (SEC) to issue around $12.4 million worth of shares to its employees. According to the S-8 form, filed with the SEC on May 27, Canaan is looking to issue nearly $12.4 million of class A ordinary shares with a maximum offering price of $0.24 per share. As Cointelegraph reported in late November 2019, Canaan raised $90 million by selling 10,000,000 shares for $9 each in its initial public offering (IPO). According to Google…