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Dubbed the Magnificent 7 by a recent Deutsche report, Apple, Amazon , and Meta, along with Tesla, Alphabet, Microsoft, and Nvidia, have been referred to as forces to be reckoned with.  The report outlines how the collective market capital of these seven companies has surpassed the financial power of every G20-listed country.  Also Read: U.S. Economy on Steroids, Unsustainable Future: Billionaire Investor The Mag 7 Stocks Continue to Be the Top Choice for Investors  Source: Mint The recent Deutsche Bank report outlines how these seven tech behemoths have been dominating the corporate sphere.  The report later shared that the combined market cap of these 7 companies would ultimately make it the second-largest stock exchange in the world.  Also Read: China’s Stock Market Faces $1 Trillion Losses in 2 Weeks Apart from that, Microsoft and Apple alone share similar market caps with countries such as France, Saudi Arabia, and the UK.  Moreover, the concentra...

Tech stocks face trillion-dollar losses as bond yields soar, but their $596 billion cash positions favor alternative hedges, including Bitcoin. The mega-cap tech stock s, which saw a robust start in 2023, are now grappling with massive trillion-dollar losses, leaving their shareholders concerned. Wall Street's unease over surging bond yields and higher interest rates has cast a shadow on these companies. Traders are now pondering the potential impact on Bitcoin (BTC) if the S&P 500 downtrend continues. Consequently, investors must investigate the correlation between Bitcoin and the S&P 500 and consider whether cryptocurrencies can thrive in an environment of high-interest rates. Bloomberg Magnificent 7 index vs. S&P 500 equal weight index. Source: Bloomberg The seven largest tech companies, including Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla, collectively constitute a staggering 29% of the S&P 500, marking the highest concentration ever recorded in...

The final tradfi trading day of 2022 offers little inspiration to bulls with Bitcoin price action trending down in line with both equities and the U.S. dollar. Bitcoin (BTC) teased more volatility at the Dec. 30 Wall Street open with BTC/USD heading ever closer to $16,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Will new year deliver "long-awaited volatility?" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wicking down to lows of $16,337 on Bitstamp. The pair had been gradually upping the volatility in the days after Christmas, as analysts eyed the likelihood of a final burst of action before the yearly close. “Last trading day of the year for TradFi, but crypto will trade through the holiday weekend. Perhaps we may see some of that long awaited BTC volatility around the Weekly/Monthly close and the start of 2023,” on-chain Analysis resource Material Indicators ventured. Popular trader and analyst Rekt Capital noted that “historicall...