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Cryptocurrency Market Update:
- 💸 Bitcoin fell for a third day, down 4.7% to $57,055
- 📉 Bitcoin’s worst monthly performance in April, down nearly 16%
- 🐻 Bitcoin now in a bear market, 22% below March’s record high
- 💼 Investors pulling money out of cryptocurrencies ahead of Federal Reserve interest rate decision
- 📉 10 largest U.S. spot bitcoin ETFs facing biggest weekly outflow since January
- 🪙 Many investors bought into the market before "halving event" last month, which has not propped up the price
- 📉 Investors are concerned about regulatory crackdowns on cryptocurrencies
- 🚨 China’s recent actions against crypto trading have caused fear in the market
- 🔗 Overall sentiment towards cryptocurrencies has shifted to negative amid the recent events
- 📉 Bitcoin price falls below $58,000 after crypto washout
- 📉 Ethereum and other cryptocurrencies also experienced a decline
- 📰 Market volatility and negative sentiment play a role in the price drop
- 🌍 Global events and economic indicators impact crypto markets
- 🚀 Future outlook for cryptocurrencies remains uncertain
Cement and Construction Industry Insights:
- 💰 Ambuja Cements reported a smaller-than-expected profit rise in Q4 due to lower prices
- 🏗️ Cement makers in India are facing subdued income from sales because of declining cement prices
- 📊 Overall, UltraTech Cement, Dalmia Bharat, and ACC reported better profits in the fourth quarter
- 📈 Ambuja Cements saw a rise in profit after tax for the quarter ended March 31
- 🏭 The outlook for the cement industry is expected to remain positive with pre-election spending and infrastructure development efforts
Other Financial and Corporate Developments:
- 🔒 Investors are awaiting the Federal Reserve’s rate decision and balance sheet plans
- 🚗 Chinese electric carmaker BYD reported lower-than-expected revenue for the first quarter of 2024
- 🏷️ Amazon’s earnings are awaited to assess Big Tech prospects
- 📺 Tata Sons increased its stake in Tata Play to 70% by buying a stake from Temasek for about $100 million
- 🛒 Investors pulled money out of cryptocurrencies ahead of the Federal Reserve’s interest rate decision