{
}
Ethereum prices plummeted over 20% from a peak of $4,100 earlier in the week, dropping to $3,260 amid a broader market selloff influenced by the Federal Reserve's cautious interest rate outlook. In contrast, Bitcoin fared slightly better, losing about 12% from its all-time high of $108,000, as higher rates limit liquidity in the crypto market.
A US government shutdown looms as a budget deal backed by President-elect adviser Musk and President-elect Trump fails to pass Congress, potentially disrupting the economy. Meanwhile, UK government borrowing in November was lower than expected, hinting at better economic growth. Strong US personal income and consumption data suggest a solid foundation for economic growth in 2025.
A US government shutdown looms as a budget deal involving President-elect Trump and adviser Musk fails to pass Congress, potentially disrupting the economy if prolonged. Meanwhile, UK borrowing in November was lower than expected, hinting at better economic growth, while US personal income and consumption data indicate rising real incomes, supporting economic stability into 2025. As 2024 concludes, a final audio comment wishes listeners a prosperous new year.
Markets experienced turmoil following the Federal Reserve's indication of fewer rate cuts in 2025, strengthening the dollar and prompting global central banks to reconsider their policies. While the S&P 500 and Nasdaq fell slightly, the Dow broke a 10-day losing streak, suggesting mixed investor sentiment amid heightened volatility. The upcoming U.S. personal consumption expenditures price index is expected to significantly influence market reactions.
Dogecoin's trading volume surged over 57% to exceed $6.5 billion in the last 24 hours, coinciding with liquidations surpassing $31 million, primarily in long positions. This volatility follows a bearish sentiment triggered by Jerome Powell's speech regarding the US Federal Reserve's rate policies, impacting risk assets like Dogecoin. Analysts suggest that while the current dip may prompt selling, a recovery is anticipated, contingent on Bitcoin's performance.
Dogecoin (DOGE) has experienced a significant decline, losing over 25% of its value in just 36 hours, dropping to a 5-week low of $0.31. Analysts warn that it may test key support levels around $0.22, with potential rebounds targeting $0.40894 and $0.65557, indicating a possible 165% increase if recovery occurs. Investors are advised to monitor the situation closely as volatility remains high in the crypto market.
Jerome Powell, chair of the US Federal Reserve, ruled out the possibility of the Fed holding Bitcoin, citing legal restrictions under the Federal Reserve Act. His comments led to a 5.7% drop in Bitcoin's price, reflecting market concerns amid ongoing discussions about Bitcoin as a potential reserve asset, particularly following Donald Trump's pro-crypto stance and proposals from policymakers like Senator Cynthia Lummis. The broader cryptocurrency market also suffered losses, with Ethereum and Solana dropping significantly.
US stocks closed mostly unchanged, with the Dow Jones Industrial Average ending a 10-day losing streak, its longest in 50 years. The S&P 500 and Nasdaq Composite fell about 0.1% amid a hawkish outlook from the Federal Reserve, which scaled back expected rate cuts for next year. The 10-year Treasury yield rose to 4.57%, the highest since May, as the economy showed growth at an annualized rate of 3.1% in the third quarter.
Wall Street rebounded on Thursday following its worst session in over three months, driven by strong U.S. economic growth data. Market participants found optimism after reflecting on the Federal Reserve's hawkish stance regarding interest rates.
Dogecoin (DOGE) has experienced significant volatility, with an 18.35% drop in value amid broader market uncertainty influenced by Federal Reserve Chair Jerome Powell's remarks. The cryptocurrency's price fluctuations are driven by external events, community sentiment, and its unlimited supply, raising concerns about its long-term viability. As Dogecoin navigates these challenges, its future remains uncertain, with investors closely monitoring its recovery potential.
End Federal Reserve USD
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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