Skip to content Skip to footer

Bitcoin Prices Surge to New Highs, Inflation in The UK Falls Unexpectedly, What Does This Mean? & Netflix Shares Drop

Bitcoin climbs to a new all-time high

The world’s largest cryptocurrency rose for a sixth consecutive session on Wednesday, with prices surging to new highs.

Moves in Bitcoin have come as the NYSE listed ProShares “BITO” ETF made its market debut during Tuesday’s session, with many hopeful that there could be similar ETFs to follow.  Investors pouring new money into ETFs would increase demand for BTC.

Watch Michael Venezia’s Market Analysis on BITO

This optimism has reinvigorated mainstream bulls, who have been muted in recent months.

Both Bitcoin and Ethereum rallied to new feats, with BTCUSD trading at an intraday high, and record price of $66,923.

ETHUSD on the other hand hit a new all-time high of $4,077.

UK inflation rate unexpectedly falls

In the United Kingdom, figures released today showed that inflation rates marginally declined last month.

Data from the Office for National Statistics reported that rose by 3.1% in September, versus expectations for a 3.2% increase.

Despite the marginal gains, many still believe that the Bank of England will still move to hike rates in November.

💡 What are the experts saying?
Some economists think the BoE risks making a mistake if it raises rates now because many of the inflation pressures in the British economy are global in nature and beyond its influence.

GBPUSD hovered around 1-month lows on the news, hitting an intraday high of 1.3824.

Meanwhile, London’s FTSE 100 closed the session marginally higher.

Netflix shares lower, despite strong Q3 earnings

Shares in the streaming giant Netflix were lower on Wednesday, despite the company posting better than expected Q3 earnings.

Netflix, held its earnings call after Tuesday’s closing bell, reporting that it had acquired 4.4 million subscribers in the quarter, vs the 3.5 million expected.

The company attributed the growth in subscribers to the recent success of the “squid games” series, which saw 142 million member households tuned in.

💡 Good news… But shares still dropped?
Any downward revisions to future sales, earnings, cash flow, and more could lead to concerns over the stock’s future value. Downward revisions or developments that decrease future value expectations can be a fundamental reason why a stock might fall alongside good news.

In addition to subscriber growth, the company’s earnings also rose, with its EPS coming in at $3.19 vs $2.56.

Revenue for the quarter however failed to beat forecasts, coming in as expected at $7.48 billion.

“How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.”

– Robert G. Allen

Eliman Dambell

Senior Market Analyst


Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.

Tradeview Asia Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.

Tradeview Financial Markets S.A.C Global

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.