bitcoin ·
Nasdaq surges 1.2% as Bitcoin edges higher
Bitcoin experienced a slight upward movement as the Nasdaq index increased by 1.2%.
Market attention is focused on Wednesday, when the Federal Reserve is anticipated to maintain its current rates; however, participants are seeking indications regarding subsequent policy actions.
Robinhood reported its third-quarter earnings, noting an EPS of $0.51, which fell short of the $0.55 expectations set by analysts.
Total revenue reached $1.424 billion, coming in below the consensus estimate of $1.43 billion.
Despite the overall revenue figures, crypto revenue surpassed expectations, registering $120 million compared to the anticipated $114 million.
However, this $120 million figure for crypto revenue represents a 55% decrease compared to the $268 million recorded in the prior year.
Overall transaction revenue amounted to $867 million, marking a 19% increase from the figures reported a year earlier.
Following these disclosures, the shares traded 4.4% lower during after-hours trading sessions.
This activity reflects the ongoing scrutiny by market participants regarding institutional performance amidst evolving monetary policy signals.
Why it matters
Market sentiment is being influenced by both broader equity performance and specific crypto-related company earnings. Investors are closely watching these signals ahead of the Fed's expected rate decision on Wednesday. This highlights the interconnectedness between traditional finance and the crypto sector.
Earlier coverage
Reported by CoinDesk.
Topics: bitcoin, regulation, exchange.
