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Ethereum's price has dropped over 7%, falling below $3,550 and establishing a new low at $3,324. A resistance level has formed at $3,650, with increased selling pressure evident as the market struggles to maintain support, particularly around $3,350 and $3,320. Technical indicators suggest a bearish trend, with potential further declines if key support levels fail.
Coinbase has surpassed Nasdaq and the Hong Kong Stock Exchange in transaction revenue, generating $5.75 billion over the past year, though it still lags in trading volume. Despite a recent revenue dip to $1.2 billion in Q3 2024, analysts predict growth potential in international markets. CEO Mouloukou Sanoh anticipates Coinbase could become a leading global exchange in the next decade.
The Parliamentary Commission of Inquiry has released a detailed report on the emergency merger of Credit Suisse and UBS, attributing the crisis primarily to Credit Suisse's management. While the authorities' rapid response to stabilize the financial system is commended, the report calls for legal reforms to prevent future crises and emphasizes the need for enhanced monitoring and coordination among supervisory bodies to ensure the Swiss financial center's stability.
Investors are optimistic about the U.S. stock market's prospects for 2025, anticipating strong corporate profit growth and a solid economy, despite concerns over persistent inflation and potential tariffs under President Trump. The S&P 500 is projected to rise 14%, with year-end targets ranging from 6,000 to 7,000, as the current bull market shows room for further gains. However, elevated valuations and inflation risks could lead to market volatility.
Political turmoil in Washington is driving stocks toward their worst weekly performance of the year. Investors are reacting to the uncertainty, which has heightened concerns about market stability and economic outlook. The situation continues to evolve, impacting investor sentiment significantly.
Investors are hoping for a "Santa Claus Rally" as December shows disappointing returns, despite a strong overall performance in 2024. The S&P 500 is up over 23% for the year, but rising Treasury yields and a lack of broad market strength raise concerns about future gains. With eight of the eleven sectors in negative territory, analysts suggest caution before buying into the market.
The FTSE 100 has dropped over 3% this week, facing significant risk aversion due to U.S. Federal Reserve rhetoric, potential government shutdown, and tariff threats from Donald Trump. The index is testing a crucial support level at 8,000 points, with a favorable risk/reward ratio for potential buying, while a break below this level could signal a bearish outlook for the market.
IG
Ethereum's price has dipped below $3,400 amid a broader market downturn, with Bitcoin falling under $96,000. The cryptocurrency has seen a 12.44% decline over the past week, facing increased selling pressure and significant outflows from Ethereum ETFs, including a $58.13 million sell-off by Grayscale. As whales offload tokens to repay debts, the critical support level at $3,035 is under scrutiny, with potential further declines towards $2,942 if the bearish trend continues.
A parliamentary investigation has concluded that Credit Suisse is responsible for its collapse in spring 2023, citing significant financial losses of 33.7 billion francs over twelve years while paying out 39.8 billion francs in bonuses. The report criticized the Financial Market Authority for ineffective supervision and called for clearer regulations for systemically important banks. Following its difficulties, Credit Suisse was sold to UBS in an emergency sale, averting fears of a global financial crisis.
Credit Suisse reported losses of CHF 33.7 billion over twelve years while paying out CHF 39.8 billion in performance bonuses, leading to scrutiny of supervisory authorities. The parliamentary committee found that the Financial Market Authority's oversight was ineffective, particularly in relaxing capital requirements. Following a crisis, Credit Suisse was sold to UBS in March 2023, averting fears of a global financial crisis.

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