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Associated Press OPEC, allies raise limits for 5 countries to end oil dispute OPEC and allied nations agreed Sunday to raise the production limits imposed on five countries next year and boost their production by 2 million barrels per day by the end of this year, ending a dispute that roiled oil markets. The disagreement, sparked by a demand by the United Arab Emirates to increase its own production, temporarily upended an earlier meeting of the cartel. In a statement Sunday, the cartel… Source link

For bitcoin, a stronger dollar outlook means more people will likely prefer to hold the buck, said one analyst. Photo: AP Bitcoin fell to a 6-month low on Tuesday, breaking a key support level of $30,000. Cryptocurrencies were broadly under pressure on Tuesday morning amid a market sell-off. Analysts said a strengthening dollar and a global move to de-risk investments was hitting the asset class. Bitcoin (BTC-USD) was down about 5.6% to trade at $29,834 (£21,832) on Tuesday morning in London…. Source link

Ethereum Ethereum fell by 3.86% on Monday. Following a 0.44% loss on Sunday, Ethereum ended the day at $1,818.44. A mixed start to the day saw Ethereum rise to a mid-morning intraday high $1,918.65 before hitting reverse. Falling short of the first major resistance level at $1,964, Ethereum slid to an early afternoon intraday low $1,805.47. Ethereum fell through the first major support level at $1,849 to end the day at sub-$1,820 levels. The second major support level at $1,805 limited the… Source link

Litecoin Falls 10% In Rout Investing.com – was trading at $105.941 by 23:34 (03:34 GMT) on the Investing.com Index on Tuesday, down 10.24% on the day. It was the largest one-day percentage loss since June 21. The move downwards pushed Litecoin’s market cap down to $7.127B, or 0.60% of the total cryptocurrency market cap. At its highest, Litecoin’s market cap was $25.609B. Litecoin had traded in a range of $105.941 to $115.025 in the previous twenty-four hours. Over the past seven days,… Source link

Recent data collected from Glassnode shows an increase in daily Ethereum Validator nodes joining Ethereum’s Proof of Stake testnet. But why does this matter, and how does this affect Ethereum’s future value? If you aren’t familiar with Ethereum 2.0, you should know a few things about this radical upgrade to Ethereum’s network. The main change in the ETH2 upgrade is its consensus model, essentially how transactions are verified on the blockchain. Ethereum, like Bitcoin,… Source link

Bitcoin’s selloff accelerated Monday, pushing it closer to US$30,000 once again. The world’s largest digital coin, down as much as 3.3 per cent at one point during the session, continues to ebb closer to the pivotal round-number level, trading around US$30,628 as of 9:41 a.m. in New York. Chartists are watching to see if it breaks below that support, which could exacerbate its decline and set it up for its lowest close since the start of the year. The retreat comes amid a broader… Source link

Reuters Stocks on worst run in 18-months amid global COVID-19 surge Risk-aversion ruled on Monday as a surge in worldwide coronavirus cases drove down bond yields and left stocks facing their longest losing streak since the pandemic first hit global markets 18 months ago. Europe’s STOXX 600 saw its worst morning in two months and London’s FTSE fell over 2% as Britain’s ‘freedom day’ when it lifted COVID restrictions was overshadowed by its double-jabbed health minister contracting the virus. … Source link

Bloomberg Stock Selloff Deepens, Bonds Climb on Virus Spread: Markets Wrap (Bloomberg) — Stocks slumped around the globe and bonds climbed as the spread of the delta variant cast a pall over the economic recovery.All major groups in the S&P 500 retreated, led by commodity, financial and industrial companies. Airlines and cruise operators tumbled amid concern over further travel restrictions, while a gauge of small caps slid about 2%. European shares headed for their biggest slide this year,… Source link