Whoever coined the phrase “sell in May and go away” had brilliant insight, and the performance of crypto and stock markets over the past three weeks has shown that the expression still rings true. May 20 has seen a pan selloff across all asset classes, leaving traders with few options to escape the carnage as inflation concerns and rising interest rates continue to dominate the headlines. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) taking on water below $29,000, and traders worry that losing this level will ensure a visit to the low $20,000s …

Over the past nine days, Bitcoin's (BTC) daily closing price fluctuated in a tight range between $28,700 and $31,300. The May 12 collapse of TerraUSD (UST), previously the third-largest stablecoin by market cap, negatively impacted investor confidence and the path for Bitcoin' price recovery seems clouded after the Nasdaq Composite Stock Market Index plunged 4.7% on May 18. Disappointing quarterly results from top United States retailers are amping up recession fears and on May 18, Target (TG) shares dropped 25%, while Walmart (WMT) stock plunged 17% in two days. The prospect of an economic slowdown brought the S&P 500 Index …

Major cryptocurrency exchange FTX is moving into equity trading, with its United States-based subsidiary FTX US launching a stock trading platform. West Realm Shires Services, the owner and operator of FTX US, announced on Thursday the upcoming launch of FTX Stocks, a stock trading service offered directly through the FTX US trading app. The new stock trading platform will feature trading and investing in hundreds of U.S. exchange-listed shares, including common stocks and exchange-traded funds. According to the announcement, FTX Stocks will be the first platform to ever allow retail investors to fund their accounts with fiat-backed stablecoins like USD …

With nonfungible tokens (NFTs) quickly rising to value, more and more people want to go all-in on this asset class. But, as any wise investor would encourage, the value of investing is in diversification. Leveraging this strategy, investors can balance short-term risks with a well-diversified portfolio while exposing it to the most long-term growth potential. The only downside is that tracking these assets, which are often managed on different applications, is another story. Retail investors have to juggle multiple financial apps to stay on top of the market, making it nearly impossible to get an overarching view of their investments. …

The cryptocurrency market has lost $1.9 trillion six months after it soared to a record high. Interestingly, these losses are bigger than those witnessed during the 2007 subprime mortgage market crisis — around $1.3 trillion, which has prompted fears that creaking crypto market risk will spill over across traditional markets, hurting stocks and bonds alike. Stablecoins not very stable A massive move lower from $69,000 in November 2021 to around $24,300 in May 2022 in Bitcoin’s (BTC) price has caused a selloff frenzy across the crypto market. Unfortunately, the bearish sentiment has not even spared stablecoins, so-called crypto equivalents of …

Cardano (ADA) pared a big portion of the weekly losses incurred during this week's crypto market rout. ADA's price reached an intraday high of $0.60 on May 13, a day after rebounding from its week-to-date low of $0.38 — a 58% rally. The huge upside retracement appeared in the wake of similar price action in the crypto market with top cryptos Bitcoin (BTC) and Ether (ETH) rebounding by 23% and 25.75% since yesterday's lows. But the sharp ADA recovery does not promise an extended upward continuation, at least according to the three factors discussed below. Stock market crash far from …

The recent crashes in stock and cryptocurrency markets have provided yet another chance to observe the better return opportunities of crypto versus stocks, according to several industry executives. This week, the crypto market saw one of its biggest sell-offs ever, with the total market capitalization plummeting more than 30% from $1.8 trillion on May 4 to as low as $1.2 trillion on Thursday. Bitcoin (BTC), the biggest digital asset by market capitalization, tumbled below $27,000 for the first time since late 2020, losing 30% of value over the same period. But the market instability has not been exclusive to crypto. …

Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency exchange FTX, has acquired a substantial 7.6% stake in the popular online brokerage, Robinhood. The news was well-received by the market, with Robinhood’s stock price initially soaring over 30% in after-hours trading. At the time of writing, the price has settled to a 24% overall gain. According to a securities filing made with the United States Securities and Exchange Commission (SEC) on Thursday, Bankman-Fried purchased a total of $648 million in Robinhood shares at an average price of $11.52. The purchases disclosed by Bankman-Fried reportedly began in mid-March and continued until …

The price of Coinbase’s junk bonds are tanking amid an underwhelming performance in Q1 and fears over what could happen in the event of a bankruptcy. According to bond trading data from Trace Bonds, both of Coinbase’s junk bond offerings have dropped roughly 17% and 5.2% since its Q1 report on Tuesday to sit at $63 and $62.31 at the time of writing. Overall, they are down 20% and 19% apiece since the start of this month. 10y coinbase bonds trading at 63 cents on the dollar pic.twitter.com/fqmKmiXk5E — state (@statelayer) May 12, 2022 Junk bonds are a form of …

Investors were surprised by Bitcoin (BTC) price falling to $25,500 on May 12, and this shock extended to options traders. The strong correction was not restricted to cryptocurrencies and some large-cap stocks faced 25% or heavier weekly losses in the same period. Growing economic uncertainty impacted S&P 500 index members like Illumina (ILMN), which declined by 27% over the past seven days and Caesars Entertainment (CZR) faced a 25% drop. Shopify (SHOP), one of the largest Canadian e-commerce companies also saw its stock plunge by 28%. Traders are scratching their heads and asking whether it’s the U.S. Federal Reserve tightening …

Cryptocurrency exchange Coinbase has disclosed its first net loss as a public company of $430 million in Q1, but CEO Brian Armstrong said on an earnings call that he’s “never been more bullish on where we are as a company.” In its first-quarter 2022 report, Coinbase disclosed that revenue had dropped 27% to $1.17 billion, down from $1.6 billion in the first quarter of 2021 and a long way off its Q4 2021 revenue of $2.5 billion. Monthly transacting users also dropped by over 19% to 9.2 million, from last quarter’s 11.4 million. Shares of Coinbase had already fallen by …

The similarity in price action between the crypto and traditional financial markets remains quite strong on May 10 as traders enjoyed a relief bounce across asset classes following the May 9 rout, which saw Bitcoin (BTC) briefly dip to $29,730. Market downturns typically translate to heavier losses in altcoins due to a variety of factors, including thinly traded assets and low liquidity, but this also translates into larger bounces once a recovery ensues. Several projects notched double-digit gains on May 10, including a 15.75% gain for Maker (MKR), the protocol responsible for issuing the DAI (DAI) stablecoin, which likely benefited …