Daily summary: Bitcoin climbs above $70,000, Cocoa rallies almost 9%

10:04 pm 25 March 2024

  • The first trading session of a new week was rather calm. However, we saw large moves on some markets
  • Wall Street indices trade mixed today - S&P 500 drops 0.1%, Dow Jones trades 0.3% lower, Nasdaq gains 0.1% and small-cap Russell 2000 advances 0.4%
  • European stock market indices traded mostly higher today - German DAX gained 0.3%, UK FTSE 100 dropped 0.2%, French CAC40 traded flat, Spanish IBEX and Dutch AEX added 0.1% while Italian FTSE MIB jumped 0.9%
  • Bitcoin extended ongoing recovery move and broke above $70,000 mark for the first time since March 15, 2025
  • Crypto-related stock jumped along with Bitcoin. MicroStrategy rallies over 20% and climbs to fresh all-time high
  • Shares of Intel and AMD dropped after China banned use of companies' chips in government devices
  • Cocoa futures also continued a rally, adding almost 9% today and breaking above $9,600 per tonne
  • AUD and GBP are the best performing major currencies, while CHF and JPY lag the most
  • Energy commodities trade mixed - oil gains 1.5% while US natural gas prices drop 0.8%
  • Precious metals gain - gold gains 0.3%, silver trades 0.1% higher, platinum jumps 0.7% and palladium rallies 1.7%
  • OPEC+ delegates agreed not to change policy at next week's meeting
  • US new home sales for February came in at 662k, marking a 0.3% MoM drop (exp. 675k)
  • Dallas Fed manufacturing index deteriorated from -11.3 to -14.4 in March (exp. -11.5)

BITCOIN jumps above $70,000 and climbs to the highest level since March 15, 2024. Source: xStation5

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