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In a recent analysis, Rekt Capital highlighted Bitcoin's historical price volatility, particularly during weeks 6, 7, and 8 of its cycles, where significant corrections have occurred. Following a peak of $108,374, Bitcoin has retraced over 11%, with critical support at $96,537; failure to hold this level could lead to a drop to $89,830. Despite cautionary signals, Rekt remains optimistic about Bitcoin's long-term potential, suggesting that current pullbacks may set the stage for future upward trends.
Bitcoin dipped to $92,000 amid a significant leverage flush, with the cryptocurrency down 1.5% on the day. Analysts noted this pullback, which mirrors past corrections, presents an optimal re-accumulation opportunity, despite a total liquidation of $1.4 billion across the crypto market.The recent cooler PCE inflation data provided some relief, with inflation coming in at 2.4%, slightly below expectations. This has led to a modest increase in market expectations for future Federal Reserve policy adjustments.
The SEC has approved Bitcoin and Ether spot ETFs from Hashdex and Franklin Templeton, allowing them to trade on Nasdaq and Cboe BZX Exchange, respectively. Both funds will hold spot Bitcoin and Ether, with Hashdex potentially adding more digital assets in the future. This approval may encourage other firms, like BlackRock, to launch similar products amid growing demand for diversified crypto investments.
Asian shares showed mixed results as markets awaited U.S. personal spending data. Japan's core inflation rose to 2.7% year-on-year, prompting a stronger dollar against the yen. Meanwhile, U.S. Treasury yields fluctuated amid mixed economic reports, with the S&P 500 still on track for a strong year despite recent market struggles.
Asian shares showed mixed results as markets awaited U.S. personal spending data. Japan's core inflation rose to 2.7%, prompting a stronger dollar against the yen. Meanwhile, U.S. markets faced volatility, with the S&P 500 still on track for a strong year despite recent fluctuations.
Asian shares showed mixed results as markets awaited U.S. personal spending data. Japan's core inflation rose to 2.7% year-on-year, prompting the dollar to strengthen against the yen. Meanwhile, the S&P 500 remains on track for a strong year despite recent market struggles, with traders adjusting expectations for future interest rate cuts by the Federal Reserve.
Asian shares showed mixed results as markets awaited U.S. personal spending data. Japan's core inflation rose to 2.7% year-on-year, prompting the dollar to strengthen against the yen. Meanwhile, U.S. Treasury yields fluctuated amid mixed economic reports, with the S&P 500 still on track for a strong year despite recent market struggles.
The Federal Reserve's recent hawkish stance led to significant market turbulence, negatively impacting risky assets like stocks and cryptocurrencies while boosting the U.S. dollar and bond yields. Following a 25 basis point rate cut, the Fed indicated a slower easing pace, with only one anticipated rate cut in 2025, prompting a market recalibration towards higher rates and increased volatility. As a result, equity indices fell, and there was heavy selling in tech stocks and cryptocurrencies.
Bitcoin's price saw a modest recovery, circling $102,000 after a dip to $98,695, influenced by the Federal Reserve's cautious stance on interest rate cuts. While some traders remain optimistic about a potential recovery, others warn of a larger pullback in January, emphasizing the importance of holding above the $100,000 mark. The market remains volatile, with significant liquidations contributing to the choppy price action.
Jerome Powell's recent statements following a modest 25 basis point interest rate hike have unsettled investors, as the Federal Reserve anticipates only two rate cuts next year due to persistent inflation concerns. The DAX is now in correction mode, with critical support at 20,000 points under threat, potentially leading to further declines towards the 19,703/19,681 range.
CME Group Inc.
Companies
| Symbol | CME |
| Name | CME Group Inc. |
| Currency | USD |
| Sector | Financials |
| IndustryGroup | Diversified Financials |
| Industry | Capital Markets |
| Market | NASDAQ Global Select |
| Country | United States |
| State | IL |
| City | Chicago |
| Zipcode | 60606 |
| Website | http://www.cmegroup.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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