Cryptos, stocks resilient after drama-filled weekend 


20 Nov 2023 9:22 PM

BTC stabilized to around $37,500 and ETH similarly recovered after nearly dipping below $2,000 midday Monday following news of Binance’s bill....

  • BTC stabilized around $37,500 and ETH recovered after almost dropping below $2,000 following news of Binance's potential criminal settlement.
  • Equities and cryptos started the week in the green despite market-moving headlines and macroeconomic narratives.
  • Nasdaq Composite also saw a 1.3% rally, extending its weeks-long run of close to 10% gains this month.
  • Microsoft and Nvidia reached their highest-ever stock prices.
  • OpenAI announced the departure of CEO Sam Altman and named Emmett Shear as interim CEO.
  • Altman joined Microsoft after the OpenAI board decided not to reinstate him as CEO.
  • Bitcoin's correlation with equities has dropped from over 70% in September 2022 to 12.8% in November 2023.
  • Crypto traders are starting to focus more on industry-specific narratives and headwinds.

The sentiment of the article is mostly neutral, with a focus on the stabilization of BTC and ETH, positive performance of equities, and leadership changes in OpenAI.

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