Cryptos, stocks resilient after drama-filled weekend
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.