MARKETS: 🚀 PUMP IT UP
Bitcoin kept soaring and Ethereum did even better, as the approval of its ETFs is still on the radar.
However, it seems that this rise in ETH has been boosted by sentiment rather than a change in fundamentals or a bigger number of transactions.
Another factor has been the decreasing supply of ETH after investors put most of what they held into staking pools, reaching a new record of $85 million.
As the FED continues to sandbag its rate cuts, REITs and Gold seem to have taken a bump as secure investments for those looking for a more conservative portfolio. Mortgage-based REITs have seemed get the biggest pump, increasing almost a 1% over the last week.
NVIDIA once again seems to be close to all the shining lights, as it is slated to post its earnings of the last quarter this week, which will undoubtedly give new signs on where investors take profit on their shares or continue to ride for the next wave.
Other big players in the Microchip industry such as TSMC and ASML saw small losses, which could be seen as a new correction on a possible NVIDIA sell off.
Meanwhile, commodities are predicted to soar as the year advances by a new report of the Citi Group, as the fear of a recession still looms. As the Houthi blockade on the Red Sea continues, other Iraqi and Lebanese exports could be affected, as the War in Gaza may spread to other regions of the middle east.
