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U.S. stocks rebounded on Friday, with the S&P 500 and Dow Jones Industrial Average both rising 1.4%, as better-than-expected inflation data eased concerns over interest rate cuts. Despite this, the market remains cautious amid political uncertainty and potential global trade challenges. Notable declines included U.S. Steel, down 4.9%, and Novo Nordisk, which fell 17% after disappointing news on a weight-loss treatment.
Dogecoin (DOGE) has experienced a significant decline, losing over 25% of its value in three days, with approximately $29 million in liquidations reported. The broader crypto market is under pressure following Bitcoin's drop, leading to a wave of liquidations, particularly in bullish positions. Analysts are closely monitoring key support levels, with concerns that DOGE could fall below $0.20 if negative momentum continues, although some believe a recovery rally could occur if it maintains a weekly close above $0.26.
Dogecoin (DOGE) has seen a significant decline of over 40% recently, dropping to $0.2638 amid broader market reactions to US Federal Reserve policy changes. Analysts suggest that the $0.26 level is crucial; maintaining this could lead to a potential uptrend, with targets set at $0.42 and beyond. Historical patterns indicate that such corrections are typical in bull markets, and a rebound may follow if key support levels hold.
XRP experienced a significant drop of 10.07% following the Federal Reserve's hawkish outlook, which raised the 2025 Fed Funds Rate from 3.4% to 3.9%. The SEC's political shake-up, with the exit of anti-crypto Commissioner Crenshaw, could lead to a withdrawal of the agency's appeal in the Ripple case, potentially boosting XRP's demand. Meanwhile, DTX Exchange is gaining traction with its presale, having raised $10.41 million, and offers advanced trading tools that enhance user experience and liquidity.
US stocks rebounded on Friday, with the Nasdaq Composite rising 1%, the Dow Jones Industrial Average up 1.2%, and the S&P 500 increasing by 1.1%, following favorable inflation data for November. However, all three major indices finished the week lower, with the Nasdaq down 1.8% and both the Dow and S&P shedding around 2%. Concerns over a potential government shutdown and tariff threats from Trump added pressure to global markets, while Novo Nordisk's shares plummeted nearly 20% after disappointing trial results for its obesity drug.
Michael Saylor has unveiled a framework aimed at integrating digital assets into the US financial system, advocating for regulatory clarity and governance standards to boost institutional investment. The plan envisions expanding digital currency markets significantly and proposes a strategic Bitcoin reserve to potentially generate trillions in wealth, thereby strengthening the US dollar and addressing national debt. Meanwhile, MicroStrategy continues to increase its Bitcoin holdings, now totaling 439,000 BTC, reinforcing its belief in Bitcoin as a store of value.
Bitcoin has experienced a 5% price drop, falling below the $100,000 mark and finding temporary support around $96,000. Analysts suggest it may decline further to approximately $93,800 due to correlations with major U.S. stock index sell-offs and recent outflows from Spot Bitcoin ETFs. As the market remains bearish, Bitcoin's price could continue to track these declines before potentially rebounding.
Ethereum is showing signs of recovery as buyers return to the market, stabilizing around $3,400 after a significant sell-off triggered by the Federal Reserve's hawkish rate cut decision. However, US investors continue to exert sell-side pressure, as indicated by the Coinbase Premium Index and recent ETF outflows. A critical support level at $3,014 could lead to a sharp decline if breached, while a daily close above $3,550 would invalidate bearish sentiments.
Vivek Ramaswamy's X account was allegedly hacked, leading to a false announcement of a partnership with the USUAL stablecoin project, which caused its governance token to surge to an all-time high of $1.61. The misinformation resulted in a significant spike in trading volume and market cap for USUAL, despite Ramaswamy being locked out of his account and clarifying the post was a scam. The incident has drawn attention to the Department of Government Efficiency (D.O.G.E.) initiative, co-led by Ramaswamy and Elon Musk, amid speculation about its potential ties to cryptocurrency.
U.S. stocks rallied on Friday following a cooler-than-expected inflation report, easing concerns over interest rate cuts. The PCE index showed a 2.4% annual rise in November, slightly below estimates, prompting traders to adjust expectations for Fed rate cuts in 2025. Despite the rally, major indexes were on track for weekly declines, with all S&P sectors advancing, led by real estate.
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