Bloomberg analyst Mike McGlone warns that Bitcoin remains in a 'purge mode' with a likely support level around $50,000 before possibly falling further to $10,000 in the long term. He highlights several macroeconomic risks, including a high U.S. stock market cap-to-GDP ratio and increased gold volatility, signaling systemic market stress. McGlone views Bitcoin as a key indicator of broader financial health and notes that its weakness despite rising equities is a warning sign. He also cautions that meme cryptocurrencies like Dogecoin and Shiba Inu may need to collapse before the crypto market can fully reset.
WuXi Biologics has successfully completed the first GMP production campaign at its new MFG17 drug substance facility in Shanghai, demonstrating stable process parameters and expected yields. The facility, with a 9,000-liter capacity and flexible sing...
The US Vegan Climate ETF (VEGN) is a passive fund with $189.7 million in assets, focusing on an animal-friendly and climate-conscious portfolio of 260 stocks. About 65% of its assets are in IT, which has a high forward revenue growth rate of 24.1%. S...
Ripple executive Reece Merrick compares the current state of cryptocurrency payments to the early days of e-commerce around 2000, when online shopping was negligible and widely distrusted. Merrick highlights that just as e-commerce grew from 0.2% to ...
Bitcoin dropped 2.5% to about $62,674 on June 23, pressured by the Federal Reserve's hawkish outlook and six consecutive weeks of Bitcoin ETF outflows totaling over $6 billion in the past month. The Fed's stance on maintaining or raising interest rat...
Engineering and construction costs continued to increase in June, according to the Engineering and Construction Cost Indicator by PEG and S&P Global Market Intelligence. However, fewer respondents reported higher prices, with the materials and equipm...
