Jerry Lin
The Latest
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Bitcoin and Ethereum Plummet Ahead of Critical Fed Meeting on Interest Rates
Bitcoin plummeted to just around $57,000, while Ethereum dropped below the $3,000 mark, showcasing a broader downturn across the crypto sector. 
Bitcoin plummeted to just around $57,000, while Ethereum dropped below the $3,000 mark, showcasing a broader downturn across the crypto sector. -
Bitcoin Plummets Below $60,000 Amid Weak Macro Conditions and Disappointing Hong Kong ETF Launch
The price of Bitcoin took a sharp dive on Tuesday afternoon, plunging to nearly $60,000 per coin and triggering a wave of liquidations for traders betting on the asset's price to rise. According to data from CoinGlass, over $261 million in long positions for all cryptocurrencies have been liquidated in the past 24 hours, with total liquidations, including short positions, exceeding $324 million. 
The price of Bitcoin took a sharp dive on Tuesday afternoon, plunging to nearly $60,000 per coin and triggering a wave of liquidations for traders betting on the asset's price to rise. According to data from CoinGlass, over $261 million in long positions for all cryptocurrencies have been liquidated in the past 24 hours, with total liquidations, including short positions, exceeding $324 million. -
Fed Likely to Signal Prolonged Higher Interest Rates Amid Stubborn Inflation
The Federal Reserve is set to keep interest rates unchanged at its upcoming meeting, despite hopes for rate cuts earlier this year. As the central bank convenes for a two-day meeting starting Tuesday, it faces the challenge of balancing stubborn inflation with a slowing economy and a strong labor market. 
The Federal Reserve is set to keep interest rates unchanged at its upcoming meeting, despite hopes for rate cuts earlier this year. As the central bank convenes for a two-day meeting starting Tuesday, it faces the challenge of balancing stubborn inflation with a slowing economy and a strong labor market. -
China's Manufacturing and Services Sectors Show Slowing Growth in April Despite High-Tech Boost
China's manufacturing and services sectors experienced a slowdown in growth in April, according to official surveys released on Tuesday, suggesting a loss of momentum for the world's second-largest economy at the start of the second quarter. 
China's manufacturing and services sectors experienced a slowdown in growth in April, according to official surveys released on Tuesday, suggesting a loss of momentum for the world's second-largest economy at the start of the second quarter. -
Eurozone Escapes Recession as GDP Grows 0.3% in Q1, Inflation Remains Steady at 2.4%
The eurozone has managed to bounce back from its shallow technical recession, thanks to a stronger-than-expected performance by its "big four" economies in the first quarter of 2024. According to figures released by Eurostat, the European Commission's statistical agency, the 20 nations that use the single currency posted a 0.3% growth between January and March, surpassing financial market expectations of 0.2%. 
The eurozone has managed to bounce back from its shallow technical recession, thanks to a stronger-than-expected performance by its "big four" economies in the first quarter of 2024. According to figures released by Eurostat, the European Commission's statistical agency, the 20 nations that use the single currency posted a 0.3% growth between January and March, surpassing financial market expectations of 0.2%. -
Hong Kong's Spot Bitcoin and Ether ETFs Struggle on First Day, Falling Short of U.S. Debut
The highly anticipated launch of spot Bitcoin and Ether exchange-traded funds (ETFs) in Hong Kong fell short of expectations on their first day of trading, as the six new crypto ETFs managed by China Asset Management, Harvest Global, Bosera, and HashKey recorded a combined trading volume of just 87.58 million Hong Kong dollars ($12 million). 
The highly anticipated launch of spot Bitcoin and Ether exchange-traded funds (ETFs) in Hong Kong fell short of expectations on their first day of trading, as the six new crypto ETFs managed by China Asset Management, Harvest Global, Bosera, and HashKey recorded a combined trading volume of just 87.58 million Hong Kong dollars ($12 million). -
Muted Market Reaction as Hong Kong Gears Up for Spot Crypto ETF Listings
Hong Kong is set to debut a batch of exchange-traded funds (ETFs) that invest directly in cryptocurrencies on Tuesday, potentially challenging the United States' dominance in the crypto investment product market. The launch comes amid a revival in digital asset prices, with Bitcoin and Ether having rallied significantly since the start of the year, though the recent market reaction has been relatively muted. 
Hong Kong is set to debut a batch of exchange-traded funds (ETFs) that invest directly in cryptocurrencies on Tuesday, potentially challenging the United States' dominance in the crypto investment product market. The launch comes amid a revival in digital asset prices, with Bitcoin and Ether having rallied significantly since the start of the year, though the recent market reaction has been relatively muted. -
Chinese Property Shares Surge on Anticipation of New Stimulus Measures
Shares of Chinese property developers experienced a significant rally on Monday, driven by expectations of forthcoming stimulus measures aimed at revitalizing the struggling real estate sector. The Hong Kong Hang Seng Mainland Properties Index and the mainland China CSI 300 Real Estate Index surged to near four-month highs, climbing 4.3% and 6.9% respectively in morning trading. 
Shares of Chinese property developers experienced a significant rally on Monday, driven by expectations of forthcoming stimulus measures aimed at revitalizing the struggling real estate sector. The Hong Kong Hang Seng Mainland Properties Index and the mainland China CSI 300 Real Estate Index surged to near four-month highs, climbing 4.3% and 6.9% respectively in morning trading. -
Japanese Yen Surges Against U.S. Dollar Amid Suspected Intervention by Authorities
The Japanese yen experienced a sudden surge against the U.S. dollar on Monday, with traders citing suspected intervention by Japanese authorities to support the currency, which has been languishing at levels last seen over three decades ago. The dollar fell sharply to a low of 154.40 yen from as high as 160.245 earlier in the day, with banking sources reporting Japanese banks selling dollars for yen. 
The Japanese yen experienced a sudden surge against the U.S. dollar on Monday, with traders citing suspected intervention by Japanese authorities to support the currency, which has been languishing at levels last seen over three decades ago. The dollar fell sharply to a low of 154.40 yen from as high as 160.245 earlier in the day, with banking sources reporting Japanese banks selling dollars for yen. -
Bank of Japan Maintains Low Rates, Signals Readiness for Future Hikes as Inflation Outlook Improves
The Bank of Japan (BOJ) kept interest rates around zero on Friday and signaled its readiness to hike borrowing costs later this year, as it highlighted a growing conviction that inflation was on track to durably hit its target of 2% in the coming years. However, the lack of clear guidance on the future rate hike path triggered a broad-based decline in the yen, pushing it down to a fresh 34-year low near 157 to the dollar and keeping markets on edge over a currency intervention. 
The Bank of Japan (BOJ) kept interest rates around zero on Friday and signaled its readiness to hike borrowing costs later this year, as it highlighted a growing conviction that inflation was on track to durably hit its target of 2% in the coming years. However, the lack of clear guidance on the future rate hike path triggered a broad-based decline in the yen, pushing it down to a fresh 34-year low near 157 to the dollar and keeping markets on edge over a currency intervention.
