Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Bitcoin leaps 12% to test recent peaks, ether hits three-week high

07/26/2021 | 02:38am EDT
FILE PHOTO: Illustration of Bitcoin

HONG KONG/SINGAPORE (Reuters) - Cryptocurrencies popped to the top of recent ranges on Monday as short sellers bailed out in the wake of a strong week and while traders hoped a handful of positive comments from influential investors might signal a turnaround in fragile sentiment.

Bitcoin rose as far as 12.5% to hit $39,850, its highest since mid-June during the Asia session, while ether hit a three-week peak of $2,344. On the heels of bitcoin's best week in almost three months, the move put the squeeze on short sellers.

Last week, cryptocurrency enthusiast and Tesla boss Elon Musk said the carmarker would likely resume accepting bitcoin once it conducts due diligence on its energy use. It had suspended such payments in May, contributing to a sharp crypto selloff.

Twitter boss Jack Dorsey also said last week that the digital currency is a "big part" of the social media firm's future and, on Sunday, London's City A.M. newspaper reported - citing an un-named "insider" - that Amazon is looking to accept bitcoin payments by year's end.

Brokers said that taken together the remarks were enough to finally lift the market from the floor of support where it has held steady since a May plunge, while data also pointed to heavy short-seller liquidations - suggesting many might have given up.

"Over the last five trading sessions we've seen general near-term bullishness in the market, driven by key technicals, as well as recent positive comments," said Ryan Rabaglia, global head of trading at digital asset platform OSL.

"With a record $1.2 billion in shorts liquidated over the past 24 hours, the outlook and momentum for the week ahead is positive," he said.

Bitcoin was last up 8% at $38,064, putting it within sight of resistance around June's $41,341.57 peak just a week after it was testing support at $29,500.

Ether was last up 5% at $2,304.

(Reporting by Alun John in Hong Kong and Tom Westbrook in Singapore; Editing by Christopher Cushing and Jacqueline Wong)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -0.58% 3405.8 Delayed Quote.5.18%
BITCOIN - EURO 0.34% 36357.3 Real-time Quote.56.08%
BITCOIN - UNITED STATES DOLLAR 0.35% 42523.37 Real-time Quote.49.55%
MSCI SINGAPORE (GDTR) -0.56% 6617.99 Real-time Quote.12.38%
All news about AMAZON.COM, INC.
03:32pAMAZON COM : CareBand and Life360 tap Amazon technology to help people stay connected
02:50pWARNER MUSIC : Twitch Collaborate Over Rollout of Recording Artist Channels, Standalone Mu..
02:22pWall Street pivots to value as Treasury yields rise
12:58pMIDDAY REPORT : US Stocks Mixed as Rising Bond Yields Pressure Technology; Oil Jumps
12:25pUS Stocks Mixed Amid Rising Bond Yields; Oil Jumps
12:09pTelefonica to migrate systems onto cloud in deal with Oracle
10:17aTech mega-caps knock 1% off Nasdaq; banks lift Dow
10:08aAMAZON COM : Morgan Stanley Cuts Price Target for Amazon.com to $4,100 from $4,300 Due To ..
09:43aAMAZON COM : BofA Securities Lowers Amazon's Price Target to $4,100 From $4,300, Maintains..
09:30aWALL STREET STOCK EXCHANGE : A new gift from China
More news
Analyst Recommendations on AMAZON.COM, INC.
More recommendations
Financials (USD)
Sales 2021 478 B - -
Net income 2021 27 015 M - -
Net cash 2021 57 270 M - -
P/E ratio 2021 65,0x
Yield 2021 -
Capitalization 1 725 B 1 725 B -
EV / Sales 2021 3,49x
EV / Sales 2022 2,89x
Nbr of Employees 1 298 000
Free-Float 82,5%
Duration : Period :
Amazon.com, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 47
Last Close Price 3 405,80 $
Average target price 4 179,55 $
Spread / Average Target 22,7%
EPS Revisions
Managers and Directors
Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
Sector and Competitors
1st jan.Capi. (M$)
AMAZON.COM, INC.5.18%1 734 822
JD.COM, INC.-13.05%114 829
WAYFAIR INC.21.60%28 530
ETSY, INC.25.26%28 208
ALLEGRO.EU SA-29.36%15 534
MOMO.COM INC.265.75%12 843