ChainCatcher news, Cointelegraph posted on X platform that Bitcoin outperformed the S&P 500 index, Nasdaq index, and Dow Jones index this week.

ChainCatcher news, U.S. stock market opens, Dow Jones rises 0.24%, S&P 500 index rises 0.42%, Nasdaq rises 0.53%. Western Digital (WDC.O) rises 9.8%, turning a profit in its first fiscal quarter. Tesla (TSLA.O) falls 1.69%, after a nearly 22% increase yesterday.

ChainCatcher message, U.S. stock market opens, Dow Jones rises by 0.16%, S&P 500 index rises by 0.43%, Nasdaq rises by 0.79%. Intel (INTC.O) rises by 6.2%, as it may spin off its foundry business. Dell (DELL.N) rises by 3.89%. (Jin Shi)

ChainCatcher news, MicroStrategy founder Michael Saylor posted on social media that during the four years of implementing the Bitcoin purchase strategy, MicroStrategy's stock performance has outperformed other companies in the S&P 500 index.

ChainCatcher news, according to Jinshi reports, U.S. stock index futures are basically flat, continuing the strong trend from the previous day, as the market bets that the Federal Reserve will soon signal readiness to start cutting interest rates. After the S&P 500 index strengthened for the eighth consecutive day on Monday, traders took a brief pause. Stock trading volume has decreased, as investors are reluctant to make large bets ahead of this week's Jackson Hole Economic Symposium.Kyle Rodda, senior market analyst at Capital.Com Inc., stated, "What we are seeing is that a recent series of data has alleviated concerns about a slowdown in U.S. economic growth, while also not triggering worries about a renewed acceleration of inflation."

ChainCatcher news, after the release of CPI data, U.S. S&P 500 index and Nasdaq 100 index futures rose to pre-market highs. (Jin Ten)

ChainCatcher news, S&P 500 index futures soar, currently up 0.6% (Jin10)

ChainCatcher news, Nasdaq futures continue to decline, with a drop of 2.54%; S&P 500 futures fell by 1.61%. (Jin Shi)

ChainCatcher news, according to data disclosed by CoinGecko on the X platform, the total market capitalization of cryptocurrencies fell by 14.4% ($408.8 billion) in the second quarter of 2024, dropping to $2.43 trillion, fluctuating basically between $2.30 trillion and $2.90 trillion.While the cryptocurrency market declined, the S&P 500 index rose by 3.9%, leading to a significant decrease in the correlation between cryptocurrency market capitalization and the S&P 500 index, from 0.84 in the first quarter to 0.16 in the second quarter.In addition, cryptocurrency volatility remained high in the second quarter, with an annualized volatility of total market capitalization reaching 48.2%, and Bitcoin's annualized volatility at 46.7%. In contrast, the volatility of the S&P 500 index was much lower, at 12.7%.

ChainCatcher message, the correlation between Bitcoin (BTC) and the S&P 500 (SPX) has dropped to 0.05, indicating market divergence. Over the past five years, the two were highly positively correlated during the pandemic and from the end of 2021 to 2022. At the beginning of 2024, both saw significant increases.While the SPX continues to reach new highs, BTC hovers around $60,000. Since 2019, BTC and SPX have shown negative correlation four times, each indicating a local low point in Bitcoin's price.

ChainCatcher news, Bloomberg ETF analyst Eric Balchunas stated that among ETFs with almost no exposure to Nvidia stock (NVDA), the ones that outperformed the S&P 500 index were mainly crypto-themed ETFs, home builders, fintech, and DXJ-themed funds.

ChainCatcher news, the Federal Reserve has kept interest rates unchanged for the seventh consecutive time, with Powell stating that it is not yet time to announce a rate cut. The three major U.S. stock indexes closed mixed, with the Nasdaq up 1.53%, the S&P 500 up 0.85%, and the Dow down 0.09%. Both the Nasdaq and the S&P 500 set new historical highs. Most large tech stocks rose, with Tesla and Nvidia up over 3%, Apple up over 2%, continuing to set new highs, and at one point rising more than 6%, surpassing Microsoft's total market value; Microsoft rose over 1%, while Netflix, Google, and Meta saw slight increases; Amazon and Intel experienced slight declines.

ChainCatcher news, according to CoinDesk, investment bank Benchmark stated that if MicroStrategy (MSTR) chooses to adopt the new accounting standards, the software company may surprise Wall Street analysts by reporting better-than-expected earnings and become eligible for inclusion in the most important U.S. stock index: the S&P 500.As of March 19, MicroStrategy holds 214,246 bitcoins, valued at $13.9 billion at current prices.

ChainCatcher news, according to 8MarketCap data, Ethereum's market capitalization has reached 452.8 billion dollars, currently surpassing UnitedHealth and iShares Core S&P 500, rising to the 22nd position in the global asset ranking.

ChainCatcher news, according to CoinDesk, crypto-friendly bank Xapo has obtained a European securities brokerage license, allowing it to offer S&P 500 index trading services and sell the company's cryptocurrency wealth management products. In addition, Xapo will also allow customers to trade Ethereum.

ChainCatcher news, according to The Block, the S&P 500 index will remove Twitter stock on November 1, replacing it with the insurance company Arch Capital Group. Musk's acquisition of Twitter will be completed this Friday. A representative from the S&P 500 index stated that changes to the index composition are made when necessary. It is reported that if a company is involved in a merger, acquisition, or significant restructuring, its stock may be removed from the S&P 500 index.According to previous reports, based on information from the NYSE website, Twitter stock will also be temporarily suspended from trading on the NYSE on October 28. (source link)