Analysts Warn of Possible Bitcoin Selloff — Market Talk
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0928 ET - Reports that bitcoin treasury firm Nakamoto Inc. sold $20 million worth of bitcoin at a 40% loss is injecting fresh fear into the cryptocurrency market, with analysts warning that it may be the beginning of a wave of firms offloading their bitcoin holdings. "Cracks are beginning to show in the digital asset treasury market," says Nic Puckrin of Coin Bureau in a note. "There is real contagion risk here." Puckrin speculates that the sentiment around bitcoin may push the coin down to below $60,000 in the coming weeks. Bitcoin has shed nearly 24% in the past 3 months, according to data from FactSet. It is up 0.4% to $66,835 this morning. (kirk.maltais@wsj.com)
0858 ET - Oil futures are flitting between small gains and losses in early U.S. trade as the market weighs the implications of a WSJ report that President Trump would be willing to wind up military operations against Iran even before the Strait of Hormuz is reopened. In a Truth Social post, Trump also rails against the U.K. and others for not helping the U.S. against Iran, and tells them "Go get your own oil!" WTI is off 0.1% at $102.78 a barrel and most-active Brent is up 0.1% at $107.46. (anthony.harrup@wsj.com)
0520 ET - Cryptocurrencies are lacking the strong institutional inflows needed for a sustained move higher, Saxo Bank analysts say in a note. Positioning in the options market remains defensive, they say. Investors continue to buy protection against the risk of falls in crypto-linked equities and exchange traded funds through put options in names such as Coinbase and iShares Bitcoin Trust ETF. However, there is selective long-dated buying of call options, which expect an asset price to rise, in names like Strategy. ETF flows remain mixed, with bitcoin ETFs seeing modest inflows and ether ETFs seeing outflows. Bitcoin is steady at $66,627, LSEG data show. Ether climbs 0.7% to $2,036. (renae.dyer@wsj.com)
0508 ET - Unilever's potential transaction with McCormick for its food business isn't consistent with its previous justification for owning the business, RBC Capital Markets analysts write in a note. The deal, which might be announced today, doesn't fully align with Unilever's previous strategy to concentrate on its own Hellmann's and Knorr brands, the analysts say. The London-listed consumer giant would be left with a controlling 65% stake in the end company, the analysts say. Unilever shares are up 0.7% at 45.62 pounds. (aimee.look@wsj.com)
source: https://www.tradingview.com/news/DJN_DN20260331005787:0/
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