Bitcoin rebounded as a bout of acute geopolitical tension eased after earlier sparking steep drops in cryptocurrencies.
The digital asset at one point Friday sank more than 6% to $59,643 but later steadied to change hands at $64,450 as of 8:53 a.m. in London. Tokens such as ether, solana and meme-crowd favorite dogecoin also stabilized.
Israel launched a retaliatory strike on Iran less than a week after Tehran’s rocket and drone barrage, sending tremors through global markets. A report that nuclear facilities in the Iranian city of Isfahan were safe helped to salve some angst. Traditional havens such as bonds, gold and the dollar trimmed gains, while stocks and US equity futures came off session lows.
The tit-for-tat Middle East conflict is overshadowing the bitcoin halving expected later Friday, which will curb new supply of the token.
Halvings historically bolstered the price of the largest digital asset. This time around, bitcoin hit a record in mid-March before the event, leading to questions about whether the putative impact is already baked in.
Ongoing Israel-Iran violence could lead to a “general risk-off sentiment across crypto,” said Stefan von Haenisch, head of trading at OSL SG Pte. But it might take a “significant move lower” to undo all of the bullishness around the halving, he added.
JPMorgan Chase & Co. and Deutsche Bank AG strategists have said that the quadrennial halving is largely already priced in by investors. A batch of three-month-old spot-bitcoin exchange-traded funds in the US have posted five straight days of net outflows ahead of the event.
As retirement costs climb, millions of millennials and Generation X adults continue relying on parental support, highlighting obstacles to retirement readiness.
Les Smith, who once played alongside future MLB stars Eugenio Suárez and Nick Castellanos, says lessons from professional baseball helped fuel his transition to independent wealth management after 11 years at Edward Jones.
A November hacking incident involving cloud apps used by three employee exposed names, Social Security numbers, and other account data, the mega-RIA said.
Paul V. Morris worked at multiple firms across Wall Street and most recently in Manhattan for Merrill Lynch.
Convicted by an LA jury on 13 of 17 counts, the Citron Research founder and activist short seller now is now facing a statutory 25-year federal prison sentence.
As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.
In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.
