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Asian stocks mostly rose ahead of the Federal Reserve's rate decision, with Japan's Nikkei 225 slipping 0.2% despite a 3.8% increase in exports. Nissan's shares surged 22% amid merger talks with Honda, while the Hang Seng and Shanghai Composite gained 0.6% and 0.7%, respectively. The Fed is expected to announce a rate cut, but strong economic data may lead to a pause in January.
Solana (SOL) has recently lagged behind Bitcoin (BTC) and Ethereum (ETH), with its price only increasing by 3% over the past month compared to 18% for BTC and 28% for ETH. On-chain analytics firm Glassnode attributes this shift to a slowdown in Solana's Realized Cap growth, which reflects capital inflows and outflows. After outperforming both BTC and ETH in Q4 2024, Solana's earlier capital inflows have diminished, allowing Bitcoin and Ethereum to take the lead.
Leading cryptocurrencies remained subdued ahead of the Federal Reserve's interest rate decision, with Bitcoin dipping to $105,000 after reaching an all-time high of $108,000. Ethereum fell below $4,000, while total liquidations exceeded $316 million. Analysts suggest Bitcoin is in the early stages of a parabolic phase, historically lasting around 300 days, with current market sentiment reflecting "Extreme Greed."
Asian stocks saw a slight increase as investors prepared for the Federal Reserve's final policy decision of the year, with a regional gauge rising 0.3%. Notably, Nissan's shares surged 24% amid merger talks with Honda, while US futures also ticked higher. The Fed is expected to cut interest rates by 25 basis points, with attention on its outlook for 2025 amidst mixed US economic data and potential inflationary pressures from proposed policies.
UBS forecasts gold prices to reach $2,900/oz by the end of 2025, driven by central bank demand, rising investor interest, and a lower rate environment. Despite a recent dip, gold has risen nearly 29% year-to-date, outperforming the S&P 500. Central banks are expected to continue strong buying, with purchases projected at 900 metric tons or more in 2025, amid geopolitical risks and a weakening US dollar enhancing gold's appeal as a safe-haven asset.
UBS forecasts gold prices to reach $2,900/oz by the end of 2025, driven by central bank demand, rising investor interest, and a lower interest rate environment. Despite a recent dip, gold has risen nearly 29% year-to-date, outpacing the S&P 500. Central banks are expected to purchase over 900 metric tons in 2025, while geopolitical risks and a weaker dollar are likely to boost gold's appeal as a safe-haven asset.
The ASX 200 is up over 8% year-to-date as 2024 closes, driven by strong performances in financial stocks, particularly the Commonwealth Bank, which rose 40%. In contrast, the tech sector surged over 50%, while energy and materials faced declines. Looking ahead, forecasts for 2025 vary, with predictions for the ASX 200 ranging from 7900 to 9300 points, influenced by geopolitical developments and potential RBA rate cuts.
Mike Novogratz, CEO of Galaxy Digital, predicts that Bitcoin's market cap could surpass gold's within five to eight years, driven by record momentum and rising institutional adoption. Currently, Bitcoin's market cap stands at $2.13 trillion, about 14% of gold's $17.8 trillion value. This shift is underscored by Bitcoin ETFs now exceeding gold ETFs in total assets under management, reflecting a significant change in investor sentiment towards Bitcoin as a legitimate asset class.
Ohio House Republican leader Derek Merrin has introduced the Ohio Bitcoin Reserve Act, allowing the state treasurer to purchase Bitcoin as part of asset allocation. This initiative aims to protect tax dollars from devaluation and embrace technological advancements in finance. Similar legislation has been proposed in Texas and Pennsylvania, reflecting a growing trend among states to consider Bitcoin as a reserve asset.
Ethereum, having transitioned to a Proof-of-Stake mechanism in September 2022, is poised for significant growth as real-world asset (RWA) tokenization gains traction. Bitwise predicts Ethereum could capture over $100 billion in fees from this market by 2025, bolstered by strong whale accumulation and a favorable regulatory environment.Currently, Ethereum holds an 81% market share in tokenized assets, with key holders increasing their stakes. A sustained price breakout above $4,093 could see ETH rally towards $4,380, while a drop below $3,550 would invalidate bullish prospects.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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