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For the third time since their January launch, spot Bitcoin ETFs witnessed net outflows last week as Bitcoin (CRYPTO: BTC) prices declined 8% last week.

What Happened: BitMEX Research data, as reported by Blockworks, indicates an $83 million drop in assets in the 11-fund category from April 8 to April 12. This is a stark contrast to the net inflows of $485 million recorded the previous week.

Since their launch on January 11, spot Bitcoin ETFs have collectively attracted $12.5 billion in positive flows. However, the Grayscale Bitcoin Trust ETF (OTC:GBTC) has been the only U.S. BTC fund to consistently see outflows, with $767 million exiting last week.

Despite attempts by asset-gathering leaders such as BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) and the Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) to counterbalance the GBTC’s negative net flows, they managed to attract only $487 million and $90 million, respectively.

The Bitcoin fund segment had only two weeks of net outflows before last week, losing $417 million in assets from Jan. 22 to Jan. 26 and $888 million from March 18 to March 22. The most significant net inflows in a week for the category peaked at $2.5 billion from March 11 to March 15.

Read Next: Bitcoin’s Next Move: ‘More Likely’ To Hit Up To 75K On Short Liquidations, Analyst Says

Why It Matters: The recent ETF outflows coincide with a week where Bitcoin’s price fell 8% in the last week and by around 5% from Monday to Friday. Analysts suggest these outflows from U.S. spot Bitcoin ETFs indicate “increased profit-taking and investor caution,” following the strong uptrend over the past two quarters.

Coinglass data indicates a growth of 2.6% in its open interest to $33.1 billion alongside a 3% surge in Bitcoin prices in the past 24 hours.

Notably, Bitcoin liquidations in the past 24 hours have seen almost as many short liquidations ($118 million) as long liquidations ($126 million).

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: Peter Schiff Predicts Bitcoin ETFs Will Lead To Its ‘Biggest Crash Ever’

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image created using artificial intelligence with Midjourney.

Benzinga’s options scanner just detected over 13 options trades for Wayfair (NYSE:W) summing a total amount of $1,238,483.

At the same time, our algo caught 11 for a total amount of 1,195,382.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $60.0 to $75.0 for Wayfair over the recent three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Wayfair’s options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wayfair’s whale trades within a strike price range from $60.0 to $75.0 in the last 30 days.

Wayfair Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
W	PUT	SWEEP	BULLISH	05/17/24	$6.55	$6.45	$6.5	$60.00	$212.5K	5.2K	707
W	PUT	SWEEP	BULLISH	05/17/24	$6.6	$6.45	$6.5	$60.00	$187.2K	5.2K	1.3K
W	PUT	SWEEP	BULLISH	05/17/24	$6.65	$6.45	$6.5	$60.00	$167.7K	5.2K	1.9K
W	PUT	SWEEP	BULLISH	05/17/24	$6.65	$6.5	$6.5	$60.00	$119.6K	5.2K	1.1K
W	CALL	SWEEP	BEARISH	05/03/24	$3.9	$3.7	$3.7	$61.00	$114.7K	332	310

About Wayfair

Wayfair engages in e-commerce in the United States (87% of 2023 sales), Canada, the United Kingdom, Germany, and Ireland. At the end of 2023, the firm offered more than 30 million products from more than 20,000 suppliers under the brands Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold. Its offerings include furniture, everyday and seasonal decor, decorative accents, housewares, and other home goods. Wayfair was founded in 2002 and began trading publicly in 2014.

In light of the recent options history for Wayfair, it’s now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Wayfair

• Currently trading with a volume of 1,102,530, the W’s price is down by -5.0%, now at $57.32.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 17 days.

Professional Analyst Ratings for Wayfair

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $76.4.

• In a cautious move, an analyst from Morgan Stanley downgraded its rating to Overweight, setting a price target of $80.
• An analyst from Mizuho has revised its rating downward to Buy, adjusting the price target to $72.
• Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Wayfair, targeting a price of $85.
• In a positive move, an analyst from Evercore ISI Group has upgraded their rating to Outperform and adjusted the price target to $80.
• An analyst from Loop Capital has decided to maintain their Hold rating on Wayfair, which currently sits at a price target of $65.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Wayfair options trades with real-time alerts from Benzinga Pro.

Whales with a lot of money to spend have taken a noticeably bearish stance on American Airlines Gr.

Looking at options history for American Airlines Gr (NASDAQ:AAL) we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $348,716 and 3, calls, for a total amount of $104,525.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $11.0 and $17.0 for American Airlines Gr, spanning the last three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for American Airlines Gr options trades today is 6592.0 with a total volume of 5,315.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for American Airlines Gr’s big money trades within a strike price range of $11.0 to $17.0 over the last 30 days.

American Airlines Gr Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
AAL	PUT	SWEEP	BULLISH	11/15/24	$4.1	$4.0	$4.0	$17.00	$115.2K	5	288
AAL	PUT	SWEEP	BEARISH	05/17/24	$0.64	$0.63	$0.64	$13.00	$85.1K	17.0K	120
AAL	CALL	TRADE	BEARISH	11/15/24	$2.59	$2.55	$2.55	$12.00	$49.7K	128	0
AAL	PUT	SWEEP	BULLISH	04/12/24	$0.86	$0.82	$0.82	$14.00	$47.2K	5.5K	1.1K
AAL	PUT	SWEEP	BULLISH	04/12/24	$0.88	$0.8	$0.82	$14.00	$34.8K	5.5K	177

About American Airlines Gr

American Airlines is the world’s largest airline by aircraft, capacity, and scheduled revenue passenger miles. Its major U.S. hubs are Charlotte, Chicago, Dallas/Fort Worth, Los Angeles, Miami, New York, Philadelphia, Phoenix, and Washington, D.C. It generates over 30% of U.S. airline revenue connecting Latin America with destinations in the United States. After completing a major fleet renewal, the company has the youngest fleet of U.S. legacy carriers.

In light of the recent options history for American Airlines Gr, it’s now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of American Airlines Gr

• With a volume of 6,381,777, the price of AAL is down -3.49% at $13.14.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 13 days.

Expert Opinions on American Airlines Gr

In the last month, 1 experts released ratings on this stock with an average target price of $19.0.

• In a cautious move, an analyst from UBS downgraded its rating to Buy, setting a price target of $19.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest American Airlines Gr options trades with real-time alerts from Benzinga Pro.

Alibaba Group Holding Limited (NYSE:BABA) and peers are trading lower Friday amid reports of China retaliating against U.S. semiconductor sanctions via the East Asian country’s latest move.

In 2024, Chinese officials directed major telecom carriers to phase out foreign processors, notably impacting American chip giants Intel Corp (NASDAQ:INTC) and Advanced Micro Devices, Inc (NASDAQ:AMD). 

China set the deadline for 2027. Intel, with China as its largest market, and AMD saw a revenue reduction from China following U.S. restrictions. 

The Wall Street Journal reports that China commanded its telecom operators to inspect their networks for non-Chinese semiconductors and plan their replacement. 

Also Read: Alibaba’s Jack Ma Backs Company’s AI Push and Restructuring

Alibaba rivals Baidu, Inc (NASDAQ:BIDU), JD.Com, Inc (NASDAQ:JD), and PDD Holdings Inc (NASDAQ:PDD) also traded lower on Friday.

Alibaba has slashed its cloud service prices significantly, offering discounts of up to 59% internationally, in response to competitive pressures and U.S. sanctions impacting the technological capabilities of Chinese firms, including Alibaba itself. 

This move follows a price reduction initiative within China, where Alibaba cut prices by up to 55% for critical cloud services, sparking a price war with rivals like JD.com. 

According to Alibaba co-founder and chairman Joe Tsai, the U.S. sanctions have disadvantage Chinese tech companies, including Alibaba, in AI development and high-end computing services by restricting access to advanced semiconductors. 

Despite these hurdles, Tsai mentioned efforts to seek alternatives and develop large language models in-house to ensure the competitiveness of Alibaba’s cloud offerings.

Price Actions: BABA shares traded lower by 1.86% at $73.46 premarket on the last check Friday. BIDU shares traded lower by 3.13% at $72.51, JD shares traded lower by 4.96% at $25.65, and PDD shares traded lower by 2.30% at $118.34.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image via shutterstock

Advanced Micro Devices, Inc. (NASDAQ:AMD) and Intel Corp (NASDAQ:INTC) face challenges in China, where the East Asian country retaliated against the U.S. semiconductor sanctions by eliminating foreign technology from its telecom systems. 

In 2024, Chinese officials directed major telecom carriers to phase out foreign processors, notably impacting American chip giants Intel and AMD. China set the deadline for 2027. 

This Ministry of Industry and Information Technology directive accelerates Beijing’s ambitions to end the use of foreign core chips in its telecom infrastructure. 

The Wall Street Journal reports that China tasked its telecom operators with inspecting their networks for non-Chinese semiconductors and planning their replacement.

Also Read: US Embargo On Nvidia Stings Hard, China’s AI Development Lags Peers: Alibaba’s Joe Tsai Reveals

The key AI beneficiaries, including Nvidia Corp (NASDAQ:NVDA), AMD, and Intel stock, are trading lower Friday following the report. Previously, Nvidia claimed there was no material impact from U.S. sanctions on China.

Historically, China’s dependency on foreign semiconductors persisted due to the inferior quality of domestic chips. However, the situation is changing as local chip quality and performance have improved, prompting a shift towards domestic alternatives. 

This transition poses significant challenges to Intel and AMD, which have supplied many core processors in China’s networking equipment.

American restrictions on selling high-end AI chips to China and China’s localization policies threaten the market positions of Intel and AMD, which are substantial players in the global semiconductor industry. 

Intel, with China as its largest market, and AMD saw a revenue reduction from China following U.S. restrictions. 

This shift comes as China aims to enhance its telecom capabilities, moving towards faster network speeds and promoting local CPU alternatives, further challenging Intel and AMD’s dominance in one of their key markets.

Analysts had an exciting take on Nvidia, AMD, and Intel in the current semiconductor landscape. Analysts flagged Nvidia’s competitive edge in the AI chip market, notably with its advanced AI chips like the A100 and H100, which are critical for server-based AI in data centers. 

Despite facing U.S. export restrictions to China, Nvidia has adapted by introducing new GPUs exempt from these curbs and planning specific models for the Chinese market, underscoring its dominance and innovative response to regulatory challenges. 

In contrast, AMD and Intel are pivoting towards AI personal computers by embedding AI chips for local model processing, aiming to enhance data privacy and battery life. 

However, widespread consumer adoption may be gradual due to the lack of AI-native applications.

Nvidia stock surged over 242% in the last 12 months. AMD climbed 85% and Intel by 18%.

Investors can gain exposure to Nvidia via VanEck Semiconductor ETF (NASDAQ:SMH) and Global X Robotics & Artificial Intelligence ETF (NASDAQ:BOTZ).

Price Actions: AMD shares traded lower by 3.41% at $164.69 on the last check Friday. INTC shares traded lower by 3.48% at $36.32. NVDA shares traded lower by 1.18% at $895.50.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo via Shutterstock

As the digital currency landscape evolves, Bitcoin (CRYPTO: BTC) is showing potential signs of a significant price movement, with market intelligence suggesting a possible break from its correlation with traditional stock markets.

What Happened: Market intelligence firm Santiment has indicated that Bitcoin might be on the verge of a significant price surge, potentially reaching the $100,000 mark, as its correlation with traditional stock markets appears to diminish. This insight was shared in a recent video update by Santiment’s marketing director, Brian Quinlivan, The Daily Hodl reported on Friday.

“After the bad news about inflation, this could be a sign that crypto is diverging away from equities again and carving their own path. And in most extended bull runs throughout the history of crypto for 15-plus years we have seen that they most often occur when there is little to no correlation with the S&P,” Quinlivan said.

The divergence between Bitcoin and the S&P 500 was particularly noticeable following the release of new inflation data. While equities were negatively impacted by the inflation concerns, Bitcoin demonstrated resilience, bouncing back above $70,000 after an initial drop.

See Also: What DOGE And SHIB Holders Can Learn From This Meme Coin Millionaire’s Trading Strategies

The observed divergence is a rare occurrence, as the crypto market has shown a strong correlation with equities for the past two years. The fresh inflation data that rattled the stock market did not seem to have a lasting negative effect on Bitcoin, hinting at a possible decoupling and an optimistic future for the cryptocurrency’s value.

Why It Matters: Bitcoin’s resilience in the face of inflation concerns aligns with its recent surge above the $70,000 threshold. This upward trend could be indicative of the cryptocurrency’s strengthening position independent of traditional financial markets.

In January, a crypto analyst predicted that Bitcoin could hit an all-time high in under six months, drawing parallels with the S&P 500’s performance. This forecast now seems more plausible with Bitcoin’s recent decoupling from the stock market.

Furthermore, the potential inclusion of MicroStrategy Inc., the largest corporate holder of Bitcoin, into the S&P 500 could have significant implications for Bitcoin’s integration into mainstream investment portfolios.

At the time of writing this article, Bitcoin was trading at $70,665.76, according to Benzinga Pro.

Read Next: Here’s How Much $1,000 In Bitcoin Will Be Worth If Cathie Wood’s BTC Prediction Is Correct

Image via Shutterstock

Bitcoin (CRYPTO: BTC) moved higher, with the cryptocurrency prices trading above the key $70,000 level on Friday.

Ethereum (CRYPTO: ETH) edged lower, but remained above the key $3,500 mark this morning.

BitTorrent (New) (CRYPTO: BTT) was the top gainer over the prior 24 hours, while Pendle (CRYPTO: PENDLE) turned out to be the biggest loser.

At the time of writing, the global crypto market cap rose to $2.63 trillion, recording a 24-hour gain of 0.1%. BTC was trading higher by 0.7% at $70,802 while ETH fell by around 0.5% to $3,534 on Friday.

Here are the top ten crypto gainers and losers over the past 24 hours:

Gainers

 

BitTorrent (New) (CRYPTO: BTT)
Price: $0.000001628
24-hour gain: 9.5%

Cronos (CRYPTO: CRO)
Price: $0.1557
24-hour gain: 7.4%

Conflux (CRYPTO: CFX)
Price: $0.3572
24-hour gain: 5.4%

BNB (CRYPTO: BNB)
Price: $622.04
24-hour gain: 4.1%

VeChain (CRYPTO: VET)
Price: $0.04954
24-hour gain: 4.1%

Losers

 

Pendle (CRYPTO: PENDLE)
Price: $6.70
24-hour drop: 9.1%

Bittensor (CRYPTO: TAO)
Price: $618.52
24-hour drop: 7.8%

JasmyCoin (CRYPTO: JASMY)
Price: $0.02296
24-hour drop: 7.7%

Jupiter (CRYPTO: JUP)
Price: $1.26
24-hour drop: 6.2%

dogwifhat (CRYPTO: WIF)
Price: $3.39
24-hour drop: 5.8%

Read This Next: Citigroup, JPMorgan And 3 Stocks To Watch Heading Into Friday

A recent survey conducted by the medical marijuana telehealth platform NuggMD indicates that many cannabis users are ready to significantly shape the 2024 election, cutting across political lines.

The poll showed President Joe Biden outpacing former President Donald Trump among people who use cannabis regularly, a voting block of some 35 million nationwide.

When asked whether a presidential candidate’s endorsement of pro-cannabis policies would increase their likelihood of voting for that candidate, 59% of the respondents replied “Yes, this would make me more likely to vote for that candidate regardless of their party.” Only 14% of respondents said they intended to vote for their party or candidate of choice.

Pro-Cannabis Policies Move Voters

Deb Tharp, head of legal and policy research at NuggMD, stressed the transformative potential of embracing pro-cannabis policies, noting that such measures could attract voters from across the political spectrum. “This poll shows that adopting pro-cannabis policies can move more constituents into either party’s camp. This is a large voting population we’re talking about, and its demographics are changing quickly.”

That said, the survey indicated a clear preference, 43%, among cannabis users for Biden compared to 36% for Trump. The survey noted that Democrats were perceived as having better cannabis policy ideas, garnering support from 56% of respondents.

Despite this support for pro-cannabis candidates and policies, the survey underscored a sense of dissatisfaction with both major political parties regarding cannabis reform. Nearly 40% of respondents said they believed Democrats aimed to suppress the legal use of cannabis, while a substantial 68% held the same views about Republicans.

The survey also shed light on the importance of understanding cannabis culture in shaping effective legislation. A striking 88% of respondents emphasized the necessity of this understanding, yet 73% felt that elected officials lack it.

Cannabis reform will be on everyone’s minds at the upcoming Benzinga Cannabis Capital Conference in Florida on April 16 and 17. Get your tickets now on bzcannabis.com

Opportunity For Democrats: Will They Take It?

The survey suggests an opportunity for Democratic candidates to capitalize on the support of the cannabis community by championing reform.

Tharp stressed the potential impact of this constituency, particularly in states like Florida where the  Supreme Court recently approved the placement of a cannabis legalization amendment on the November ballot. With nearly two million voting-age Floridians using cannabis regularly, their turnout could significantly influence the outcome. Trump has said he is not fond of cannabis legalization ballot initiatives because they tend to boost Democratic turnout.

NuggMD conducted the digital poll from March 25 to April 3, contacting over 53,000 individuals. The survey’s margin of error stood at 3.89%, with a confidence level of 95%. Six swing states were over-indexed to enhance the poll’s electoral relevance.

The Benzinga Cannabis Capital Conference is returning to Florida at a new venue in Hollywood, on April 16-17. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars — this conference is the go-to event of the year for the cannabis world.

Now Read: DeSantis Furious As Legal Weed, Abortion Rights Move Toward November Ballot, Calls Amendments ‘Radical,’ ‘Confusing’ For Voters

Photo: Shutterstock

Meta Platforms, Inc’s (NASDAQ:META) Instagram, the most sought-after social networking platform for teenagers, has cracked down on their safety by taking initiatives to protect them against “sextortion” scams.

Now, victims receiving nude images via direct messages will get a pop-up instruction to block the sender or report the chat and encourage the recipient not to feel pressure to respond. 

The culprits will get a warning against such acts followed by a reminder alert, the Wall Street Journal reports.

Also Read: Meta Faces Flak for Child Exploitation via Subscription Tools on Facebook and Instagram

Reports indicated sextortion is taking a toll on the mental health of teenagers.

Instagram will now obscure nude images that teenagers receive on the social networking site with a message redirecting them to safety tips. 

Instagram will test the new feature shortly, followed by a global launch by default for accounts with birth dates corresponding to teenagers. Teens can turn off the feature at their discretion. Instagram will also promote the feature to the adult accounts. 

Meta does not look to the launch of such features in WhatsApp and Messenger.

Apple Inc (NASDAQ:AAPL) added a similar protection years ago. 

Meta’s latest move follows efforts to restrict teen Instagram accounts from harmful content. 

Earlier this year, Meta founder and CEO Mark Zuckerberg apologized to the families of the victims of abuse on social media platforms. 

Meta stock gained over 143% in the last 12 months. Investors can gain exposure to the stock via The Communication Services Select Sector SPDR Fund (NYSE:XLC) and Fidelity MSCI Communication Services Index ETF (NYSE:FCOM).

Price Action: META shares are trading higher by 0.32% at $521.49 premarket on the last check Thursday.

Also Read: Meta Under Fire: Walmart and Match Group Slam Company Over Ads Next to Underage Sexual Content

Photo by Solen Feyissa on Unsplash

On CNBC’s “Mad Money Lightning Round,” Jim Cramer said “no” to MarineMax Inc (NYSE:HZO). “It’s just too risky right here,” he noted.

On March 11, MarineMax announced a new stock repurchase program of up to $100 million.

Trade Desk Inc (NASDAQ:TTD) is “great,” Cramer said.

On Feb. 15, Trade Desk reported better-than-expected fourth-quarter revenue results.

The “Mad Money” host recommended selling Peabody Energy Corp (NYSE:BTU), adding, “I’m not a coal guy.”

On Feb. 8, Peabody Energy posted weaker-than-expected fourth-quarter earnings.

Cramer said Geron Corp (NASDAQ:GERN) is “just ok. I mean, we’ve got so many great biotechs these days.” He recommended sticking with the “good ones.”

On March 14, Geron Co announced that the U.S. Food and Drug Administration’s (FDA) Oncologic Drugs Advisory Committee (ODAC) voted in favor of the clinical benefit/risk profile of imetelstat for the treatment of transfusion-dependent anemia.

Archer Aviation Inc (NYSE:ACHR) is losing a lot of money, Cramer said, “It’s just too speculative for me.”

On Feb. 26, Archer Aviation reported worse-than-expected fourth-quarter financial results.

Cramer said he likes Uranium Energy Corp. (NYSE:UEC).

On March 25, Uranium Energy reported the appointment of Brent Berg as Senior Vice-President, U.S. Operations.

Price Action:

• MarineMax shares fell 6.4% to settle at $27.50 on Wednesday.
• Uranium Energy shares gained 3.4% to close at $7.13.
• Peabody Energy shares gained 0.3% to close at $23.57 during Wednesday’s session.
• Shares of Trade Desk fell 0.5% to close at $86.44 on Wednesday.
• Geron shares rose 0.3% to settle at $3.44 on Wednesday.
• Archer Aviation shares fell 2.8% to close at $4.16.

Read Next: How To Earn $500 A Month From Citigroup Stock Ahead Of Q1 Earnings Report

Image: Shutterstock