Economy Country November 14, 2024

Bitcoin Exceeds $93,000 Amid Market Fluctuations

Bitcoin has regained momentum, surpassing $93,000. However, local stock markets in Mexico and Europe show declines, reflecting mixed trading performance as investors digest inflation reports from the U.S.


Bitcoin Exceeds $93,000 Amid Market Fluctuations

Bitcoin showed an increase on Wednesday as it regained strength and surpassed 93 thousand dollars, despite a prior detention. Meanwhile, the Mexican stock market and other international markets are showing declines this November 13. In Europe, the DAX in Germany decreased by 0.78%, the CAC 40 in France fell by 0.66%, the IBEX 35 in Spain was at 11,341.11 units, and the FTSE 100 in London declined by 0.25%.

Regarding the Institutional Stock Exchange (BIVA), the FTSE-BIVA dropped by 0.30% to 1,045.25 units. In Europe, the red numbers persist. In the Mexican Stock Exchange (BMV), the IPC, its main indicator, fell by 0.29% and is at 50,947.40 points.

On Wall Street, amidst the assimilation of the inflation report in the U.S. and awaiting interventions from Fed officials, mixed movements are observed. The Dow Jones shows an increase of 0.15%, the Nasdaq is down 0.18%, and the S&P 500 loses 0.06%.

Short-term Treasury bonds performed well, with a decrease in the yield of two-year bonds. There is an estimated 80% chance that the Fed will cut rates on December 18, according to swap traders. Stocks are struggling to gain traction after significant gains this month, while the dollar remains at a two-year high.

Regarding oil, West Texas Intermediate (WTI) fell by 1.48% to 67.11 dollars per barrel, and Brent dropped by 1.32% to 70.94 dollars per barrel. OPEC+ has cut its crude oil demand forecast for the year. This information was provided by Bloomberg.