{ }
Dogecoin (DOGE) plummeted 12.4% to $0.31 amid a broader market decline following the Federal Reserve's hawkish outlook, with trading volume surging 67% to $10.25 billion. The meme coin is now down 35% from its 2024 high of $0.47, while its market cap remains at $46.6 billion. Other cryptocurrencies, including Ethereum and XRP, also faced significant losses, reflecting heightened sensitivity to macroeconomic signals.
A recent crypto market sell-off triggered $1 billion in leveraged liquidations, primarily affecting long positions. Bitcoin, despite dropping below $96,000, has gained 130% this year, while the total crypto market cap fell 9.5% to $3.4 trillion. The Fed's hawkish stance following a rate cut decision has contributed to market volatility, with many traders viewing the pullback as a healthy correction.
Investing in the stock market can be a challenging and lengthy journey, often spanning years or even decades. Recent events, such as a 2.9% drop in the S&P 500, may seem alarming, but they fall within historical norms, with 2024 proving to be relatively calm compared to average market fluctuations.
The stock market is facing challenges following a sell-off by the Federal Reserve, with investors now awaiting crucial inflation data. To navigate these turbulent times effectively, access to professional market trend analysis and stock picks is essential for making informed decisions on buying, selling, or holding investments.
Bitcoin has dropped below $100,000, currently priced at $97,000 after a 6.4% decline, amid market reactions to Fed Chairman Jerome Powell's cautious remarks on interest rates and a looming government shutdown. Major altcoins like Ethereum and Solana also experienced significant losses, contributing to a 9% decrease in the total crypto market cap to $3.63 trillion. With only two days left for Congress to pass a spending bill, uncertainty looms as President-elect Donald Trump rejects a bipartisan funding measure, potentially leading to a government shutdown on December 21.
Franklin Templeton has filed for a dual crypto index ETF to track Bitcoin and Ether, coinciding with Bitcoin's stabilization at the critical $100K support level. Analysts predict that the SEC may approve this ETF alongside similar proposals from Bitwise and Hashdex in 2025, bolstered by recent regulatory appointments and a favorable market outlook. The proposed fund will focus solely on Bitcoin, Ether, cash, and cash equivalents, aiming to replicate the CF Institutional Digital Asset Index without engaging in staking or income-generating activities.
Dogecoin (DOGE) experienced a 6% drop to an intraday low of $0.3404 on December 19, following Bitcoin's decline below $100,000 and a hawkish Federal Reserve press conference. The memecoin market saw over $10 billion wiped out in 24 hours, with increased trading volume reflecting heightened risk-off sentiment. Despite current bearish trends, professional trader Natalie Dormer notes that DOGE is at a critical support level around $0.35, suggesting potential for a rebound if broader market conditions stabilize.
The US Federal Reserve cut its benchmark interest rate by 0.25% to a range of 4.25% to 4.50%, marking the third consecutive reduction since September. While inflation remains above the 2% target, the Fed anticipates only two more rate cuts in 2025, reflecting a cautious approach amid ongoing economic growth.Additionally, the Fed adjusted its inflation forecast to 2.5% for 2025 and lowered the Reverse Repurchase Agreement rate to 4.25%. The stock market reacted negatively to the Fed's outlook, with significant declines in major indices following the announcement.
UBS strategists predict minimal change in the U.S. fiscal deficit under a second Trump administration, despite proposed tax cuts and spending programs. With the deficit exceeding 7.5% of GDP and a debt-to-GDP ratio over 120%, significant fiscal constraints are anticipated, including potential entitlement reforms and tax increases to stabilize debt levels. The challenges of high interest rates and narrow congressional majorities may further complicate expansive fiscal policies.
UBS strategists predict minimal change in the U.S. fiscal deficit under a second Trump administration, despite proposed tax cuts and spending programs. With the deficit exceeding 7.5% of GDP and a debt-to-GDP ratio over 120%, significant fiscal constraints are anticipated, including potential entitlement reforms and tax increases to stabilize the economy. The challenges of high interest rates and narrow congressional majorities may further complicate expansive fiscal policies.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.