Bitcoin experienced a sharp pullback on Thursday, driven primarily by short selling, which exacerbated losses. In the 90 minutes leading to the drop, Bitcoin slipped 1.5% from $115,000 as open interest—representing the total number of unsettled derivative contracts—climbed by 2.3%, adding over $591 million in notional value, according to Velo data. The cumulative volume delta of perpetual futures on offshore exchanges, such as Binance and Bybit, decreased, while the spot CVD remained steady, suggesting that ...

Core Viewpoint - Costco Wholesale Corp has experienced a significant stock price decline of nearly 15% from its peak, primarily due to a broader market sell-off and a slight earnings miss, despite strong revenue growth [1][5][6] Group 1: Stock Performance and Forecast - The current stock price of Costco is $903.92, with a 12-month price forecast averaging $1,030.43, indicating a potential upside of 14% [1] - Analysts have set a high forecast of $1,175.00 and a low forecast of $890.00 for Costco's stock [1] - The stock has been on a rally since late 2022, reaching an all-time high in February before the recent decline [1][5] Group 2: Earnings Report Analysis - Costco's latest earnings report showed a revenue increase of 9% year-over-year, reaching a new record, but earnings per share (EPS) fell short of expectations at $4.02 compared to the anticipated $4.11 [4][5] - The earnings miss, while not massive, contributed to the stock's decline amid a broader market downturn, with the S&P 500 down nearly 10% [5][6] Group 3: Analyst Sentiment and Technical Indicators - Despite the recent sell-off, many analysts maintain a bullish outlook on Costco, with several firms reaffirming Buy ratings and increasing price targets, such as Evercore ISI raising its target to $1,070 [7][8] - Technical indicators suggest that Costco is currently in oversold territory, with an RSI of 30, indicating a potential for a rebound [10] - The stock is trading near a long-term support line, suggesting that a bottom could be forming, which may attract buyers [11] Group 4: Investment Opportunity - The recent pullback in Costco's stock may present a compelling buying opportunity for long-term investors, as analysts believe the reaction to the earnings miss has been overdone [3][12] - The combination of strong revenue growth and a defensive business model positions Costco well to navigate market volatility [9][12]