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February 9th - Goldman Sachs trading arm stated that after a rebound in U.S. stocks last Friday, almost recovering the weeks brutal losses, this week will face further selling pressure from trend-following algorithmic funds. The S&P 500 has broken through a short-term trigger point, prompting commodity trading advisors (CTAs) to sell stocks. Goldman Sachs expects these systematic strategies, which track stock market movements rather than fundamental factors, to remain net sellers in the coming week, regardless of market direction. Goldman Sachs stated that if the stock market falls again, it could trigger approximately $33 billion in selling this week. If market pressure persists and the S&P 500 falls below 6707 points, there could be as much as $80 billion in systemic selling over the next month. In a stable market environment, CTAs are expected to sell approximately $15.4 billion in U.S. stocks this week, and even if the stock market rises, these funds are still expected to sell approximately $8.7 billion.February 9th - Goldman Sachs trading arm stated that after a rebound in U.S. stocks last Friday, almost recovering the weeks brutal losses, this week will face further selling pressure from trend-following algorithmic funds. The S&P 500 has broken through a short-term trigger point, prompting commodity trading advisors (CTAs) to sell stocks. Goldman Sachs expects these systematic strategies, which track stock market movements rather than fundamental factors, to remain net sellers in the coming week, regardless of market direction. Goldman Sachs stated that if the stock market falls again, it could trigger approximately $33 billion in selling this week. If market pressure persists and the S&P 500 falls below 6707 points, there could be as much as $80 billion in systemic selling over the next month. In a stable market environment, CTAs are expected to sell approximately $15.4 billion in U.S. stocks this week, and even if the stock market rises, these funds are still expected to sell approximately $8.7 billion.US President Trump: The US election is full of fraud and theft, and has become a laughing stock around the world.Market news: Multiple explosions were heard in Kyiv, the capital of Ukraine.Domestic News: 1. Guotou Silver LOF: Trading suspended from opening on February 9th until 10:30 AM. 2. Several banks raise deposit interest rates as the Spring Festival approaches. 3. Macaus daily inbound and outbound passenger flow breaks record again with 867,000 visits. 4. Jiangsu Provincial Government holds symposium for real estate professionals. 5. Qianwen and Yuanbao red envelope codes can now be copied on WeChat. 6. Hong Kong Financial Secretary Paul Chan: Hong Kongs achievements in cultivating new productive forces are gradually becoming apparent. 7. Hong Kong SAR Government summons Panamas Consul General again, criticizing the ruling for causing profound damage to Panamas economic development. International News: 1. Middle East Situation: ① Hamas senior official: As long as Israel continues its occupation, the Palestinians will not stop resisting. ② Israeli Prime Minister Netanyahu will meet with Trump next Wednesday to discuss the Iranian issue. ③ Iranian Foreign Minister: Iran will never accept "zero enriched uranium". ④ Iranian Armed Forces Chief of Staff: No interest in launching a regional war. ⑤ Pentagons "pizza index" surges. 2. Japanese Election: ① Exit polls: Japans ruling coalition is expected to win a majority of seats in the House of Representatives. ② NHK: The ruling coalition led by Prime Minister Sanae Takaichi is poised to win at least two-thirds of the seats in the House of Representatives. ③ Prime Minister Sanae Takaichi: Will accelerate consideration of reducing the consumption tax. A weak yen has both advantages and disadvantages. 3. Russia-Ukraine Situation: ① Russian media: The US-India joint statement did not mention abandoning the purchase of Russian oil. ② Ukrainian President Zelensky: Russian energy infrastructure is a legitimate target of Ukraines attacks. ③ Ukrainian Foreign Minister denies any connection between Ukraine and the attack on the Russian general. 4. Denmark: Negotiations with the US on Greenland have not met expectations. 5. Data analysis from Vanda Research shows that retail investors poured $430 million into the largest silver ETF, SLV, in the six trading days ending Thursday. 6. US Treasury Secretary Bessenter: Does not expect the Federal Reserve to act quickly on the balance sheet issue. Believes Warsh will be very independent. 7. The Bhumjaithai Party announced that it has become the largest party in the Thai House of Representatives.

Crypto Prices Slump Over the Weekend

Skylar Shaw

May 09, 2022 09:59

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The Bitcoin market dropped over the weekend, matching the stock market's decline.


According to CoinDesk pricing, the world's biggest cryptocurrency, bitcoin, plummeted to $34,656 on Sunday afternoon, down 3.9 percent from Friday evening. Bitcoin fell below $34,000 earlier this afternoon, about half of its all-time high of $67,802 set in November.


Ethereum, the second-largest cryptocurrency, was trading at about $2,565 on Sunday afternoon, down 5.1 percent from Friday at 5 p.m. EDT.


Bitcoin and other cryptocurrencies are notorious for their wild price volatility


For years, individual investors dominated the market, but institutional investors, such as hedge funds and money managers, have begun to take control.


The market has become more aligned with regular markets as more professional investors trade crypto. Many institutional investors that acquire cryptocurrencies see them as high-risk investments, akin to equities in the technology sector. During periods of market turmoil, investors prefer to flee to safer areas.


Last week, the stock market fell the day after the Federal Reserve issued a half-point rate hike, the largest since 2000, to combat inflation. Additional rate hikes are possible this summer, according to Fed Chairman Jerome Powell. 


Some of the central bank's $9 trillion asset portfolio is also being unwound.


The Nasdaq Composite, which is heavily weighted in technology, fell to a 52-week low of 12144.66 on Friday. It is down 22% so far this year.


For most of 2022, cryptocurrency prices remained flat as investors braced for higher interest rates. According to CoinMarketCap, the crypto market was busy over the weekend, with $112 billion in market volume in a 24-hour period. The total value of the cryptocurrency market is currently $1.59 trillion.