#BTC 24 Hour High $9,792.00 $BTC 24 Hour Low $9,315.87 $BTC +3.2%
#BTC seeing positive price action as rumors fly around Paypal launching digital currency services, allowing users to buy, sell and store their platform - these rumors appear to be driven by Paypal having created two public postings seeking crypto engineers. $BTC up +3%, unable to break $9,800 during the late American session as it corrects to $9,700 on 42.7% vol. $BTC futures volumes back up to $11B, open interest moving up $200M to $3.8B aggregated across the top exchanges. $55M short positions liquidated during the move up.
Nasdaq hits fresh record as vaccine hopes rise, trade fears deescalate.
Stock extended gains Tuesday morning and the Nasdaq Composite hit a fresh record high as hopes for a coronavirus vaccine rose and U.S.-China trade fears dissipated. French drugmaker Sanofi (SNY, SNYNF) said on Tuesday that it anticipates it will receive approval for its potential Covid-19 vaccine it is creating with GlaxoSmithKline in the first half of 2021, which if successful would then be available in the second half of next year. While there are currently no vaccines to prevent the coronavirus, a host of pharmaceutical companies have entered the race to try and develop medicines to prevent and treat the virus.
Big tech stocks outperformed again on Tuesday. Each of Apple, Microsoft, Facebook and Amazon hit record intraday highs. Apple’s stock increase coincided with the company’s annual Worldwide Developers Conference (WWDC), during which the iPhone-maker announced it would be pivoting away from its 15-year partnership with Intel to make its own processors for its Mac devices.