bitcoinFeature
Bitcoin edges higher as Nasdaq surges 1.2%
Robinhood shares dipped 4.4% in after-hours trading following its latest financial report.
The company reported a third-quarter EPS of $0.51, falling short of analyst predictions of $0.55.
Furthermore, total revenue reached $1.424 billion, which was below the expected $1.43 billion.
However, crypto revenue surpassed projections, hitting $120 million against an anticipated $114 million.
Despite this positive crypto revenue figure, it represented a 55% decrease compared to the $268 million posted last year.
Overall transaction revenue climbed 19% from the previous year, totaling $867 million.
Meanwhile, in broader market news, Bitcoin gained ground as the Nasdaq climbed 1.2%.
Investors are keenly awaiting Wednesday's Federal Reserve meeting, where a steady rate decision is anticipated, though signals regarding future policy remain the focus.
Why it matters
Market sentiment remains volatile as investors weigh Fed policy signals against tech earnings reports. Robinhood's mixed results, especially the drop in crypto revenue, could influence broader risk appetite in the crypto space. Keep watching for any shifts in Fed commentary this week.
