Enhancements have been made to boost the operating efficiency of the system by the Commission.
In the world of finance, the opening of the new trading week brings a mix of anticipation and uncertainty. As we delve into the latest developments, let's take a closer look at the performance of Bitcoin and the DAX index.
Bitcoin, the digital gold, has shown strong bullish momentum, currently trading around $118,347. This follows a slight pullback after hitting all-time highs above $123,000. The recent dip is viewed as healthy profit-taking rather than a sign of weakness, with institutional accumulation and regulatory clarity providing strong price support.
The recent rally for Bitcoin includes surging past $123,000 mid-July, driven by ETF inflows, substantial liquidations of short positions, and growing institutional demand. This has propelled Bitcoin to become the 5th largest asset globally by market cap. Key support levels near $117,500 and $112,000, and resistance near $123,000 to $130,000, are crucial to watch for potential continuation of the uptrend.
Meanwhile, the DAX index, a key German stock market index, is near a critical support level of 24,000. The cautious market tone, due to inflation concerns, tariff issues, and the start of the Q2 earnings season, has led to this retesting of the support level. The week ahead is expected to be volatile, with ECB policymakers speaking and US CPI inflation data scheduled, alongside earnings reports from major companies. This suggests that DAX performance may hinge on inflation data and corporate earnings reports amid ongoing geopolitical and trade tensions.
Other notable events to watch this week include the reporting of second-quarter developments by Ryanair, Verizon, and NXP Semiconductors on Monday. The earnings season is expected to pick up speed later in the week.
In Asia, the Hang Seng index of Hong Kong is up 0.2 percent at the start of the week, while trading is suspended in Japan on Monday. The Dow Jones Industrial closed last week with a loss of 0.3 percent, at 44,342.19 points, while the S&P 500 closed with a minimal loss of 0.01 percent, at 6,296.79 points. The Nasdaq 100 closed last week with a loss of 0.1 percent, at 23,065.47 points.
Several companies, including Siemens Energy, SAP, Deutsche Bank, Airbus, and MTU Aero Engines, performed particularly strongly in the previous week. Conversely, Sartorius, Porsche, Volkswagen, Mercedes-Benz, and Daimler Truck were significantly under pressure.
In summary, Bitcoin is consolidating around $118,347 after hitting all-time highs above $123,000, supported by institutional buying and ETF inflows, with potential to challenge $125,000+ if the $118,000 support holds. The DAX is near a critical support level (24,000), with expected volatility driven by economic data releases and Q2 earnings reports this week. Analyst sentiment for Bitcoin remains positive due to strong demand and adoption, while DAX's near-term direction depends on upcoming inflation and earnings outcomes.
Investors looking to the stock-market may find promising opportunities with Bitcoin, as it exhibits strong bullish momentum and has the potential to challenge prices above $125,000, provided the $118,000 support level holds. On the other hand, the DAX index is approaching a critical support level of 24,000, with a volatile week ahead hinging on economic data releases, Q2 earnings reports, and ongoing geopolitical and trade tensions.