First Mover Americas: Bitcoin Drops From $70K as Bullish Signal Strengthens
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 04 2024
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Source: Yahoo Finance
- Bitcoin Price Movement: Bitcoin's price dropped below $69,000 after briefly reaching over $70,000, with BTC currently at about $68,900, down slightly compared to 24 hours ago.
- Bitfinex Analysis: Bitfinex noted that the recent slump in bitcoin prices was due to long-term holders selling, but this trend has slowed down as the number of net accumulating BTC addresses has increased, indicating growing bullish sentiment.
- DWF Labs and Floki Tokens: DWF Labs plans to purchase $12 million worth of floki tokens from the open market and the Floki treasury to support the growth of the dog meme coin's ecosystem, following a previous commitment made in February.
- Bitpanda and Deutsche Bank Partnership: Bitpanda has partnered with Deutsche Bank to process fiat deposits and withdrawals for its users in Germany, enabling access to German IBANs for converting crypto to fiat and vice versa.
- Australian Regulator Issue and Trump's Odds: An Australian regulator must pay costs for a 'misleading' release, while prediction markets show that Trump's conviction has not significantly impacted his chances of winning the election.
Analyst Views on DZZ
Wall Street analysts forecast DZZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DZZ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 3.350
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Current: 3.350
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
