Spreadex Market Update

Bitcoin crashes to lowest point since January



Bitcoin has dropped below $30,000 for the first time since January, losing all its gains since the start of 2021.

This horrific month for crypto continues as China cracks down further on crypto miners. Long term investors will question cryptos potential if mining restrictions continue.

It has been a decent day for the FTSE, up 0.23% off the back of record growth in UK factory output. With the Bank of England’s meeting minutes to come out later this week too, there is a chance that this strong performance could get even better.

It has been a bleak day for the rest of Europe however, with the CAC and DAX both down 0.07%, they will be hoping to match the FTSE’s performance in the latter stages of the week.

The US had a mixed open, with the S&P holding steady (+0.13%), but the Dow in contrast with a disappointing -35-point performance.

One to watch for the week, Copper! Up a whopping 1.42% on the day and looking to recover from what has been, to say the least, an abysmal month. With Copper currently trading at 4.2435, investors would love to see it break through the 4.3 mark.

SEARCH FOR AN ARTICLE:

Enter a keyword and search for all relevant articles

MARKET ANALYSIS

RECENT POSTS

Financial Trading Blog

UK Bank Stocks Surge Double Digits

Read More

Daily Market Update

09.05.24 Thursday Morning

Equities The FTSE 100 hit a new record high, climbing 0.5% to close at 20,491.99 points. This uplift in the UK's...

Read More

Economic Diary

09.05.24

Read More

Financial Trading Blog

BOE in Focus as Economists Split Over June Cut

Read More

Daily Market Update

08.05.24 Wednesday Morning

Equities On Tuesday, the  FTSE 100 reached a record high, closing at 8,335.68 points, an increase of 1.2%. This marked...

Read More

Economic Diary

08.05.24

Read More

DISCLAIMER


Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investors lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. For professional clients, spread betting and CFD trading can also result in losses larger than your initial stake or deposit.

Spreadex Ltd is authorised and regulated by the Financial Conduct Authority, provides an execution only service and does not provide advice in any way. Nothing within this update should be deemed to constitute the provision of investment advice, recommendations, any other professional advice in any way, or a record of our trading prices. This update does not constitute or form part of an offer of, or solicitation for a transaction in any financial instrument, nor shall it or the fact of its distribution form the basis of, or be relied on in connection with, any contract therefore. Any persons placing trades based on their interpretation of the comments or information within this update does so entirely at their own risk.

No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained within this update by Spreadex Ltd or any of its employees and no liability is accepted by such persons for the accuracy or completeness of any such information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained within this update.

The information contained within this update is the intellectual property of Spreadex Ltd and is protected by UK and International copyright laws. All rights reserved. Users may however freely download, distribute and reproduce extracts of the contents, subject always to accrediting Spreadex Ltd as the source and providing a hyperlink to www.spreadex.com.