Big Tech Trading like Bitcoin on a bad day after disappointing profits

Von Krypto News Österreich

  • Bitcoin managed to stay over $ 20,000 because large technology stocks continue their decline in post -excessive trading
  • Amazon lost more than 20 % during the after-hour session on Thursday, while Meta almost 25 % low castle
    • on Thursday
Based on the meeting on Thursday, Big Tech begins how to act cryptocurrencies.

Although Bitcoin managed to stay over 20,000 and only born by 2 % during the day, the big-tech shares continued their decline in post-excessive trading for disappointing winning results.

Amazon lost more than 18 %after the company missed revenue during the after-hour session. Meta closed almost 25 % lower on Thursday and ended the trading session with the lowest price since 2016 after it had recorded a 4 % drop in sales in the year.

Apple, on the other hand, recorded a record quartals win, but was still unable to avoid the market decline and lost 5 %during the trading session, according to Investing.com.

The volatility of Bitcoin is legendary, but ...

Bitcoin, which is known for its volatility, has lost only 18 % or more on one day on 10 occasions in the past 10 years, and only twice in the past 5 years.

According to the studies by the data company Kaiko, Bitcoin's 20-day volatility is now lower than that of the NASDAQ and the S&P 500. Both BTC and ETH have surpassed Meta last year.

"The market share of Bitcoin on the trading volume has reached the highest level in more than two years," said Kaiko in a research report published on Thursday. "Bitcoin dominance has increased significantly since April, which indicates that the mood has mainly declined after the collapse of the Terra ecosystem and the wave of top-class bankruptcies in summer."

disappointing profits in connection with an upcoming decision by the central bank and a turbulent macroeconomic environment create increasingly uncertain views of shares.

"US shares fight for the direction after a mixed winning bag was accompanied by economic data that supports the idea that the economy is weakening," said Edward Moya, Senior Analyst at Oanda. "Mark Zuckerburg looks ruthless here ... The investments in artificial intelligence have been boosted and now everyone awaits that Meta will have a problem with the free cash flow."

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The article Big Tech Trading Like Bitcoin on A Bad Day After Disappointing Earnings is not a financial advice.