Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore

News

Stay up to date on the latest crypto trends with our expert, in-depth coverage.

banner
All
Crypto
Stocks
Commodities & Forex
Macro
Flash
13:04
Analysis: SpaceX IPO Could Expand Nasdaq's BTC Exposure, But May Create Short-Term Headwinds for Tech Stocks and Bitcoin Fund Flows
BlockBeats News, May 22nd, analyst Yashu Gola⁠ stated that SpaceX plans to conduct a $75 billion IPO in June. If the post-listing valuation reaches $17.5 trillion to $20 trillion, it may enter the Nasdaq 100 index within 15 trading days through the "fast entry" rule and increase the index's exposure to Bitcoin. According to SpaceX's latest S-1 filing, it holds 18,712 BTC, worth around $1.45 billion. If we add Tesla's 11,509 BTC holdings, Musk's two companies will become significant Bitcoin asset holders in the Nasdaq 100. Strategy CEO Phong Le stated, "With the SpaceX IPO, the Magnificent Seven will become the Magnificent Eight, with 25% of the companies on the balance sheet holding Bitcoin." However, analyst Nic Puckrin believes that the SpaceX IPO could be "bad news" for tech stocks. After being included in the Nasdaq 100, passive funds will need to buy SpaceX and sell existing component stocks like Nvidia, Apple, Microsoft, which could create a large-scale fund-siphoning effect. Reports suggest that Bitcoin's recent trend has been highly correlated with large-cap tech stocks, with BTC's 30-day correlation with the Magnificent Seven ETF (MAGS) currently around 0.81. Analysts believe that if tech stocks are under pressure due to index rebalancing, Bitcoin may also face short-term downward risks.
13:03
Canadian producer prices rise for the fourth consecutive month in April
Golden Ten Data, May 22 – Canada’s producer prices rose again in April, increasing the risk that rising costs will be passed on to consumers. Statistics Canada data shows that the Industrial Product Price Index increased by 2% month-on-month in April, marking the fourth consecutive monthly rise. Ongoing Middle East conflicts continued to disrupt shipping in the Strait of Hormuz, putting pressure on various commodities during the month. Prices for energy products, chemicals, and unwrought aluminum saw significant increases. Compared to the same period last year, the Producer Price Index jumped 11.4%, recording year-on-year growth for the 19th consecutive time. This was mainly driven by strong investor demand for most of last year, which pushed up prices for precious metals and their alloys.
13:03
Data: The current whale positions on Hyperliquid platform amount to 4.804 billions USD, with a long-short ratio of 0.95.
ChainCatcher news: According to Coinglass data, whales currently hold $4.804 billion in positions on the Hyperliquid platform. Long positions account for $2.339 billion, representing 48.69% of the total, while short positions account for $2.465 billion, representing 51.31%. Long positions have a profit and loss of $80.9961 million, and short positions have a profit and loss of -$144 million.
News