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U.S. stocks fell as investors prepared for the Federal Reserve's final policy meeting of the year, with expectations for a quarter-point rate cut at 95.4%. Strong November retail sales, driven by vehicle purchases, slightly lowered rate-cut odds and indicated robust consumer strength, which may influence the Fed's future decisions. The likelihood of a pause in rate cuts at the January meeting has risen to nearly 80%.
Ethereum whales now control 57% of all Ether, the highest level since 2015, with 104 wallets holding $333 billion worth. While larger holders accumulate, smaller wallets have decreased significantly, indicating a potential bullish trend as new Ethereum addresses surge to an eight-month high.Ether's price recently reclaimed $4,000, with analysts optimistic about reaching new highs by early 2025, especially as Bitcoin's rally to $107,800 boosts overall market sentiment. If ETH maintains levels above $3,800, it could trigger a full bull run.
European MP Sarah Knafo has called for the EU to establish a Strategic Bitcoin Reserve, opposing the European Central Bank's digital euro initiative. She argues that Bitcoin serves as a decentralized safeguard against inflation and poor monetary policies, citing El Salvador's successful adoption of Bitcoin as legal tender as a model for European nations to follow. Knafo warns that the ECB's digital euro could lead to excessive centralized control, advocating instead for financial independence through Bitcoin.
French MP Sarah Knafo advocates for a Bitcoin strategic reserve in Europe, opposing the European Central Bank's plans for a digital euro, which she warns could lead to a "dystopian world" of transaction control. Her party holds only five of the 81 French seats in the European Parliament, making her proposal unlikely to gain traction. Meanwhile, the ECB is progressing on offline digital euro payments, though a final decision on its launch is still pending.
The Federal Reserve is expected to announce a 25 basis point rate cut, bringing the total to 100 basis points since September, with a 97% probability of this outcome. However, the Fed may pause further cuts in early 2025 due to stagnant price indices and robust economic growth, as indicated by a 3.3% growth forecast for Q4 and rising producer prices. The Composite PMI has also reached its highest level since March 2022, suggesting persistent inflation in the services sector.
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Toncoin has seen a price increase of 3.6% to $6.39, despite a significant decline in decentralized exchange activity, raising concerns about the sustainability of this trend. While Open Interest has risen, indicating trader confidence, the number of active addresses has dropped sharply from 3.8 million to 1 million since October. With a market cap of $15.24 billion and a projected average price of $7.25 by the end of 2024, Toncoin's future remains uncertain amid market volatility.
Bitcoin's recent rally has sparked bullish predictions, with experts forecasting a potential price target of $110,000. Market analyst Negentropic notes BTC's resilience, having closed above $100,000 for two consecutive weeks and broken through the $102,000 resistance, now acting as support. Meanwhile, whale activity remains low, indicating that large investors are holding their positions, suggesting further upward momentum for the cryptocurrency.
UBS analyst Nicholas Holowko downgraded Comerica (CMA) to Sell from Neutral, raising the price target to $64 from $60. The firm anticipates below-Street pre-provision net revenue and highlights the importance of stock selection in 2025 amid regulatory changes and the aftermath of the 2023 regional bank crisis.
UBS analyst Nicholas Holowko has downgraded Comerica (CMA) to Sell from Neutral, raising the price target to $64 from $60. The firm anticipates below-Street pre-provision net revenue and highlights the importance of stock selection in 2025 amid regulatory changes and the aftermath of the 2023 regional bank crisis.
Bitcoin has recently maintained a price above $100K, with targets set at $110K and $120K as the $100K level now serves as support. However, caution is advised as the 4-hour chart indicates a potential bearish reversal if the price fails to break above the ascending channel. Additionally, a significant drop in exchange reserves suggests a tightening supply, which could drive prices higher in the coming months.

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