CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.67% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money

Bitcoin lower as $40k drive fails, AMC nears highs again

By John Shepard

17:19, 18 June 2021

Bitcoin, AMC

Bitcoin (BTC) is 3.4% lower on the day after the push to the $40,000 level failed to see further gains. 

AMC Entertainment (AMC) is higher again, nearing the all-time highs at $70.00. The stock was boosted by a credit rating upgrade. 

BTC struggles with greenback gains

Bitcoin was trading at $36,570 after the coin’s push to $40,000 failed, stymied by a strong rally in the US dollar. The currency has been rising on the back of the latest Federal Reserve meeting. Fed Chair Jerome Powell hinted that the central bank may raise rates sooner than expected.

It is not all bad news for the coin. The Fed is moving earlier because of increasing inflation, and BTC is likely to be supported in an inflationary environment. 

EQUOS, a digital asset services company, said the initial down move across risk assets was a “knee-jerk reaction”.

COIN

299.03 Price
-6.670% 1D Chg, %
Long position overnight fee -0.0241%
Short position overnight fee 0.0019%
Overnight fee time 22:00 (UTC)
Spread 0.37

SMCI

29.76 Price
+15.160% 1D Chg, %
Long position overnight fee -0.0241%
Short position overnight fee 0.0019%
Overnight fee time 22:00 (UTC)
Spread 0.13

NVDA

146.18 Price
+0.770% 1D Chg, %
Long position overnight fee -0.0241%
Short position overnight fee 0.0019%
Overnight fee time 22:00 (UTC)
Spread 0.17

MSTR

397.49 Price
-16.300% 1D Chg, %
Long position overnight fee -0.0241%
Short position overnight fee 0.0019%
Overnight fee time 22:00 (UTC)
Spread 1.09

“Bitcoin and stocks will likely correlate through the turbulence, before reality hits: inflation is likely to see bitcoin outperform stocks.”

AMC stock back at $62 after a credit rating upgrade

The AMC share price was back at the $62 level, with the stock aiming to regain highs of $70.

AMC benefited from a credit rating upgrade last week, which was followed on Thursday by the beginning of voting on the company's sale of 25 million shares. This  could bring in as much as $1.5bn in new cash and help offset the debt load AMC accumulated during the pandemic.

The company’s management has vowed to use the cash to go “on offence” and seek new growth opportunities. AMC was 3.2% higher on Friday and will look to test the all-time highs near $70.00

Read more: Chromia coin price prediction: will the 9,000% rally resume?

Markets in this article

BTC/USD
Bitcoin / USD
98437.90 USD
4038.2 +4.270%

Related topics

Rate this article

Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that Capital.com believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 660,000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading