2 months ago
Bitcoin (CRYPTO:BTC) rose 5.5% to $81,491.82, Ethereum (CRYPTO:ETH) rose 5.2% to $2,511.01, and Solana (CRYPTO:SOL) rose 5.9% to $105.30 as of early evening on Sept. 3. The total crypto market cap increased 4.7% to $2.82 trillion as crypto risk appetite returned.
Bitcoin retook the $81,000 mark for the first time since May as cryptocurrency markets benefited from concerns about rising bond yields and lower odds of a Federal Reserve rate hike. Fed Governor Christopher Waller said he would support leaving rates unchanged as long as there's not a dramatic shift in inflation figures.
Spot Bitcoin ETFs inflows improved, with around $101.1 million in net inflows yesterday, led by the iShares Bitcoin Trust ETF (IBIT). Ethereum ETFs broke a 12-day winning streak of inflows yesterday, but today's data may show institutional funds returning.
Bitcoin has gained almost 27% in the past month as confidence returns to the market -- the crypto fear and greed index, which measures investors' mood, has moved from extreme fear a month ago to greed today. The lead crypto isn't close to retaking its all-time high just yet, but the rapid recovery is a reminder to long-term investors that crypto winters do pass and that sentiment can quickly swing from gloom to optimism.
That said, cryptocurrency prices remain susceptible to macro factors in the near term. The recent rally was helped by bond market turmoil and concerns about the value of the U.S. dollar, but inflation, interest rates, and the tensions in the Middle East could all weigh on investor confidence. Particularly as economists still think there's a 50.5% chance of a rate hike and higher rates tend to pressure riskier ***** ets like crypto.
#ethereum
Bitcoin retook the $81,000 mark for the first time since May as cryptocurrency markets benefited from concerns about rising bond yields and lower odds of a Federal Reserve rate hike. Fed Governor Christopher Waller said he would support leaving rates unchanged as long as there's not a dramatic shift in inflation figures.
Spot Bitcoin ETFs inflows improved, with around $101.1 million in net inflows yesterday, led by the iShares Bitcoin Trust ETF (IBIT). Ethereum ETFs broke a 12-day winning streak of inflows yesterday, but today's data may show institutional funds returning.
Bitcoin has gained almost 27% in the past month as confidence returns to the market -- the crypto fear and greed index, which measures investors' mood, has moved from extreme fear a month ago to greed today. The lead crypto isn't close to retaking its all-time high just yet, but the rapid recovery is a reminder to long-term investors that crypto winters do pass and that sentiment can quickly swing from gloom to optimism.
That said, cryptocurrency prices remain susceptible to macro factors in the near term. The recent rally was helped by bond market turmoil and concerns about the value of the U.S. dollar, but inflation, interest rates, and the tensions in the Middle East could all weigh on investor confidence. Particularly as economists still think there's a 50.5% chance of a rate hike and higher rates tend to pressure riskier ***** ets like crypto.
#ethereum
2 months ago
One problem in the artificial intelligence industry that just doesn't seem to be going away: Companies still aren't saying new AI tools are making them more profitable.
"While it's easy to find anecdotal examples of AI-driven margin gains or cost-cuts, economically meaningful implementation seems uneven at best," Barclays strategist Venu Krishna wrote in a note on Thursday.
"While nearly half of all companies talked about AI [on recent earnings calls], only 12% were willing to quantify AI-related value capture," Krishna added. "Of those, tech, financials, and healthcare companies were over-indexed at 68% of the total. The average reported gain in operational efficiencies seems impressive at first blush at 56%, but these ******* sments have not meaningfully changed over the last three years of LLM advances, calling their precision into question."
Krishna noted that Meta's (META) AI tools delivered an 8.3% increase in Facebook ad clicks and a 15.7% uplift in conversions.
Online pet care retailer Chewy (CHWY) is targeting $50 million in cost savings in fiscal year 2027 through AI deployed across fulfillment and customer service.
#cost #barclays
"While it's easy to find anecdotal examples of AI-driven margin gains or cost-cuts, economically meaningful implementation seems uneven at best," Barclays strategist Venu Krishna wrote in a note on Thursday.
"While nearly half of all companies talked about AI [on recent earnings calls], only 12% were willing to quantify AI-related value capture," Krishna added. "Of those, tech, financials, and healthcare companies were over-indexed at 68% of the total. The average reported gain in operational efficiencies seems impressive at first blush at 56%, but these ******* sments have not meaningfully changed over the last three years of LLM advances, calling their precision into question."
Krishna noted that Meta's (META) AI tools delivered an 8.3% increase in Facebook ad clicks and a 15.7% uplift in conversions.
Online pet care retailer Chewy (CHWY) is targeting $50 million in cost savings in fiscal year 2027 through AI deployed across fulfillment and customer service.
#cost #barclays
