Source: Zhitong Finance "Since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%)." With the rebound of the stock market, the old adage "Sell in May and Go Away" seems to have been a bad advice once again. Last month, the S&P 500 index rose 4.8%, the best May performance since 2009. The NASDAQ 100 index rose nearly 6.2%, and the NASDAQ Composite Index rose 6.9%. Goldman Sachs FICC & Equities Trading Division said: "History doesn't really support this saying. Don't sell, leave the market (go on vacation), and enjoy the good times." The rising trend is still to be continued? If history is any guide, it may indicate that the rise of the stock market is not over yet. Looking ahead to the rest of 2024, Scott Rubner, Managing Director of the Goldman Sachs Global Markets Division and tactical expert, pointed out the following historical background for investors. Rubner stated that the S&P 500 index has risen 10.7% year-to-date, and since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%). "Since 1950, the median return of the last 7 months of each year (June 1 to December 31) is 5.4%. In the aforementioned 21 cases, the average performance of the last 7 months increased to 8.1%." Rubner added. Rubner also pointed out that the NASDAQ index has risen for 16 consecutive Julys, with an average return of about 4.64%.

Bitcoin traders once again target a price target of $0.07 million, following a brief decline in the cryptocurrency market on Friday evening, the USA cryptocurrency exchange-traded fund (ETF) still maintains a steady inflow of funds.

FRNT Financial co-founder and CEO Stephane Ouellette said: "This is a continuation of the trend we have recently seen in the crypto market." He pointed out, "We are in the early stages of a global liquidity cycle, with the expectation that low interest rates and liquidity from fiscal policies will continue to drive Bitcoin higher in the long term."

Over the weekend, the cryptocurrency market saw a decline due to reports that the US was investigating Tether Holdings Ltd., a stablecoin issuing company, for possible violations of sanctions and anti-money laundering regulations. In response, a Tether spokesperson stated that the company is unaware of any investigation.

Stablecoins like Tether play a crucial role in the cryptocurrency market as they act as a bridge between fiat currency and cryptocurrencies. Users can use them to exchange fiat for Bitcoin and other cryptocurrencies, and vice versa. In addition, stablecoins like Tether are often used as collateral for crypto loans. Tether is the largest cryptocurrency by global trading volume.

As the US presidential election approaches, the market's enthusiasm for Bitcoin is increasing. According to a report by CoinShares, the total inflow of digital assets last week reached $0.91 billion, bringing the total inflow for the year to date to $27 billion, nearly three times the record level set in 2021.

CoinShares Research Director James Butterfill said: "We believe that the current Bitcoin price and capital inflows are strongly influenced by US politics, with the recent surge in inflows possibly related to the rise in Republican poll numbers." The report also noted that almost all inflows are concentrated in Bitcoin, while Ethereum saw an outflow of $35 million last week, the largest among all assets during the same period.

In addition, options traders are also increasing their bets on Bitcoin hitting a new high of $0.08 million by the end of November, regardless of the election outcome. The implied volatility of Bitcoin options expiring around election day on November 5th is high, with traders leaning towards call options, which give the buyer the right to buy Bitcoin at the new high.

In March this year, bitcoin surged to a historical high of $73,797 driven by optimistic sentiment regarding ETF demand, before dropping over 30% in early August and initiating the current bull market trend.

"Last week, billionaire hedge fund manager Paul Tudor Jones viewed bitcoin as a hedge against inflation, especially amid increasing expectations of fiat currency depreciation," Ouellette added, "This dynamic will continue to be bullish for bitcoin, as new market participants incorporate bitcoin into their investment portfolios in the next market cycle, expanding bitcoin's long-term growth potential."

On Monday, stocks related to the bitcoin concept collectively rose.$Coinbase (COIN.US)$rose more than 5%.$MicroStrategy (MSTR.US)$Increased by almost 9%,$Bit Digital (BTBT.US)$Surging more than 9%.$MARA Holdings (MARA.US)$Up more than 11%.

Editor / jayden