Daily market key data review and trend analysis, jointly produced by PANews and OSL.Daily market key data review and trend analysis, jointly produced by PANews and OSL.

OSL Trading Hours: Cryptocurrency shows volatile trend, market expects "Santa Claus bounce"

2024/12/25 11:42
4 min read

OSL Trading Hours: Cryptocurrency shows volatile trend, market expects "Santa Claus bounce"

1. Market observation

Keywords: ETH, ETF, BTC

The cryptocurrency market has been volatile recently. Despite the market's expectations for a "Santa Claus bounce", Bitcoin fell due to reduced buying activity by large investors. Concerns that the Federal Reserve may take a tougher stance and expectations of reduced interest rate cuts also led to a weak performance in the cryptocurrency market over the weekend. Notably, tokenization platform Allo received $100 million in financing to strengthen its Bitcoin-backed lending business. Although Ethereum failed to set a new all-time high, it still shows strong growth potential.

Analyst Justin Bennett pointed out that BTC's current bullish pattern is similar to the previous surge, and based on historical trends, it is predicted that Bitcoin may break through $168,500. Institutional, MicroStrategy continues to be optimistic about Bitcoin, increasing its holdings of 5,262 BTC for $561 million, which is also the company's seventh consecutive week of purchases. At the same time, Senator Ted Cruz expressed his support for Bitcoin at the Turning Point Americafest conference.

However, the market also faces some challenges. The Wall Street Journal raised concerns that Bitcoin may be threatened by quantum computing, and based on historical patterns, BTC's price adjustment could reach 30%. The current average trading volume of Bitcoin is $31 billion, which is still far below its historical highs. Deribit CEO Luuk Strijers pointed out that $84,000 is the "greatest pain" level for Bitcoin before the expiration of major options in December. Despite this, key indicators of on-chain activity still indicate that the Web3 field is expected to achieve sustainable growth.

2. Key data (as of December 24, Eastern Time)

  • S&P 500: 6,040.04 (+26.50% year-to-date)

  • Nasdaq: 20,031.13 points (+32.88% year-to-date)

  • 10-year Treasury yield: 4.591% (+70.4 basis points this year)

  • US dollar index: 108.095 (+6.63% year-to-date)

  • Bitcoin: $98,173.47 (+128.0% year-to-date), with a daily spot volume of $46.935 billion

  • Ethereum: $3,489.17 (+53.50% year-to-date), with a daily spot volume of $23.267 billion

3. ETF flows

  • Bitcoin ETF: -$150 million (Dec. 24 EST)

  • Ethereum ETF: +$131 million (Dec. 23 EST)

4. Important Dates

With the Christmas holiday approaching, Hong Kong stocks and financial markets in many European countries will be closed for two and a half days starting from Tuesday (24th), and US stocks will be closed for one and a half days.

5. Hot News

  • VitaDAO plans to distribute 6.9 million BIO to VITA and VitaDAO IPT holders

  • GoPlus releases GPS token economics: 10% of total supply will be used for airdrops

  • aiPool Community: There are still 10% of tokens that have not been distributed, and the final distribution is expected to be completed by tomorrow at the latest

  • Glassnode: Solana has maintained positive net capital inflows since early September 2023

  • South Korea's average daily cryptocurrency trading volume in November was on par with the stock market, and the total number of investors exceeded 15 million

  • An anonymous user pledged 10,000 BTC on Babylon 10 days ago, worth over $1 billion

  • A whale that received 116.7 million PENGU airdrops purchased $1 million worth of PENGU tokens

  • Cumberland deposited 16,201 ETH to Coinbase, worth about $55 million

  • Binance Alpha adds 5 new projects: GAME, UFD, GEL, GOUT, and YNE

  • Sahara AI releases 2024-2025 roadmap: Sahara Chain mainnet will be launched in Q3 2025

  • Sun Yuchen denies rumors of liquidating ETH: This is just an ETH transfer operation between different wallets of the team

  • The full-chain interoperability protocol Analog mainnet is officially launched, and core functions will be introduced before TGE

  • Mt.Gox has transferred more than 3,631 BTC to B2C2 Group since December 5

  • Matrixport: Bitcoin's pullback may accumulate power for a rebound in 2025, and $90,000 to $95,000 may be an excellent pullback range

  • Binance supports Fantom’s rebranding to Sonic and token swap

  • Virtual Protocol ecosystem tokens generally rose, GAME rose by more than 30% in 24 hours

  • IOTA will introduce a sustainable token economic model with an annual inflation rate of 6%

  • South Korean regulator denies reports it will allow businesses to buy cryptocurrencies

  • Forbes predicts seven major trends in the crypto industry in 2025: G7 or BRICS countries will establish strategic Bitcoin reserves

  • Grayscale announces that it has opened private subscription for 22 cryptocurrency trust products

  • Meme coins will account for 31% of crypto narratives in 2024, a nearly 4-fold increase from last year

  • IRS again insists in lawsuit that crypto staking is taxable

Powered by OSL - Hong Kong's largest OTC trading platform, providing regulated digital asset services to the market since 2018.

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BitcoinWorld Crucial US Stock Market Update: What Wednesday’s Mixed Close Reveals The financial world often keeps us on our toes, and Wednesday was no exception. Investors watched closely as the US stock market concluded the day with a mixed performance across its major indexes. This snapshot offers a crucial glimpse into current investor sentiment and economic undercurrents, prompting many to ask: what exactly happened? Understanding the Latest US Stock Market Movements On Wednesday, the closing bell brought a varied picture for the US stock market. While some indexes celebrated gains, others registered slight declines, creating a truly mixed bag for investors. The Dow Jones Industrial Average showed resilience, climbing by a notable 0.57%. This positive movement suggests strength in some of the larger, more established companies. Conversely, the S&P 500, a broader benchmark often seen as a barometer for the overall market, experienced a modest dip of 0.1%. The technology-heavy Nasdaq Composite also saw a slight retreat, sliding by 0.33%. This particular index often reflects investor sentiment towards growth stocks and the tech sector. These divergent outcomes highlight the complex dynamics currently at play within the American economy. It’s not simply a matter of “up” or “down” for the entire US stock market; rather, it’s a nuanced landscape where different sectors and company types are responding to unique pressures and opportunities. Why Did the US Stock Market See Mixed Results? When the US stock market delivers a mixed performance, it often points to a tug-of-war between various economic factors. Several elements could have contributed to Wednesday’s varied closings. For instance, positive corporate earnings reports from certain industries might have bolstered the Dow. At the same time, concerns over inflation, interest rate policies by the Federal Reserve, or even global economic uncertainties could have pressured growth stocks, affecting the S&P 500 and Nasdaq. Key considerations often include: Economic Data: Recent reports on employment, manufacturing, or consumer spending can sway market sentiment. Corporate Announcements: Strong or weak earnings forecasts from influential companies can significantly impact their respective sectors. Interest Rate Expectations: The prospect of higher or lower interest rates directly influences borrowing costs for businesses and consumer spending, affecting future profitability. Geopolitical Events: Global tensions or trade policies can introduce uncertainty, causing investors to become more cautious. Understanding these underlying drivers is crucial for anyone trying to make sense of daily market fluctuations in the US stock market. Navigating Volatility in the US Stock Market A mixed close, while not a dramatic downturn, serves as a reminder that market volatility is a constant companion for investors. For those involved in the US stock market, particularly individuals managing their portfolios, these days underscore the importance of a well-thought-out strategy. It’s important not to react impulsively to daily movements. Instead, consider these actionable insights: Diversification: Spreading investments across different sectors and asset classes can help mitigate risk when one area underperforms. Long-Term Perspective: Focusing on long-term financial goals rather than short-term gains can help weather daily market swings. Stay Informed: Keeping abreast of economic news and company fundamentals provides context for market behavior. Consult Experts: Financial advisors can offer personalized guidance based on individual risk tolerance and objectives. Even small movements in major indexes can signal shifts that require attention, guiding future investment decisions within the dynamic US stock market. What’s Next for the US Stock Market? Looking ahead, investors will be keenly watching for further economic indicators and corporate announcements to gauge the direction of the US stock market. Upcoming inflation data, statements from the Federal Reserve, and quarterly earnings reports will likely provide more clarity. The interplay of these factors will continue to shape investor confidence and, consequently, the performance of the Dow, S&P 500, and Nasdaq. Remaining informed and adaptive will be key to understanding the market’s trajectory. Conclusion: Wednesday’s mixed close in the US stock market highlights the intricate balance of forces influencing financial markets. While the Dow showed strength, the S&P 500 and Nasdaq experienced slight declines, reflecting a nuanced economic landscape. 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