In yet another historic week, Bitcoin has blown past the trillion dollar market cap milestone to hit highs of $58K as institutional money pours into the market.

MicroStrategy is buying an additional $1 billion worth of Bitcoin, Motley Fool has scooped up $5 million, and even the world’s largest asset manager BlackRock has “started to dabble” in the cryptoasset. This buying frenzy is reflected on Twitter, where prominent Bitcoiners including Elon Musk and Senator Lummis have powered up their profile images with laser eyes to celebrate surging prices.

Value stocks beat growth stocks

• Value stocks beat growth last week, with the DJ30 eking out a 0.1% gain while the tech-heavy NASDAQ100 fell back by 1.6%. Names including Apple (-4.1%), Netflix (-2.9%), and Tesla (-4.3%) were all in the red.
• One of the firms that helped the DJ30 to a positive week was construction equipment maker Caterpillar, which gained 6%, taking its rally over the past three months beyond the 20% mark.

Financials climb on Treasury Bond yield

• On the back of increases in long-term interest rates, bank stocks enjoyed a rally last week.
• In February, the yield on…

The Bitcoin rocket has blasted to new highs above $49K after Tesla’a $1.5bn treasury allocation triggered a buying frenzy last Monday.

As the week continued, more bullish news hit the headlines. Twitter said it was considering adding Bitcoin to its balance sheet, and BNY Mellon and Deutsche Bank revealed plans for cryptocurrency custody. Finally on Valentine’s Day, corporate America’s embrace pushed Bitcoin over the edge to climax above $49K before pulling back.

Wall Street reaches another record

• US markets finished higher on Friday, with all three major indices climbing to new records
• Strong corporate earnings, continued acceleration of the Covid-19 vaccine rollout, and reassurance from Federal Reserve chairman Jerome Powell combined to push US stocks to new heights.
• However, a debate has arisen in the US as to whether Biden’s $ 1.9 trillion plan, coupled with the vaccination campaign, is not likely to cause inflation to overheat.

Ethereum blasted past all-time highs on Tuesday, setting the pace for a week of manic buying in the cryptocurrency market. Cardano and Binance Coin both surged to record levels as altcoins including Litecoin and Stellar flashed double-digit gains.

Wall Street rebounds

• The S&P 500 rallied 4.65% last week, reaching a new all-time high and recording its best week since November.
• Together with the Nasdaq and Dow Jones, the three major indices recovered all of the losses suffered in the previous drawdown and moved into positive territory for 2021.
• President Biden and Treasury Secretary Yellen’s effort to push a $1.9 trillion stimulus package also contributed to the recent bullish run.

Big earnings for big tech

• As of last week, 45% of S&P 500 companies published their annual results. …

Bitcoin appeared to hitch a ride on Elon Musk’s rocket on Friday. The cryptoasset soared by 20% to hit $38K as the world’s richest man added #bitcoin to his Twitter Bio, and a record number of options contracts expired. However, despite the spike, soon enough the world’s largest crypto was drifting back to earth.

A negative week on Wall Street

• All three major indices finished last week lower, as the overall trend in markets was negative.
• The sell-off, which resulted in a weekly decline of 3.3% for the S&P 500, came despite the fact that Q4 earnings are beating expectations.
• Much of the weekly loss came during a sell-off on Friday, where firms including United Airlines, Principal Financial Group, and Charter Communications suffered 5% plus share price falls.
• In the Dow Jones Industrial Average, McDonald’s was the only stock to register gains on Friday.
• Apple finished the week 5.1% lower, dragging both the Dow…