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 Time: Cryptocurrency market fluctuates and adjusts, governments and institutions still increase BTC layout

2024/12/11 12:02
4 min read

OSL Trading Time: Cryptocurrency market fluctuates and adjusts, governments and institutions still increase BTC layout

1. Market observation

Keywords: BTC, SOL, ETH

The cryptocurrency market has recently experienced a major turmoil, with the overall market value shrinking by more than $250 billion. In this wave of decline, Bitcoin depreciated by 5% to $95,519, while Ethereum also fell sharply from its recent high to $3,500. This market volatility not only affected the price of the currency, but also triggered significant movements among industry insiders. Among them, Ethereum researcher Max Resnick chose to leave Ethereum and switch to the Solana camp. More strikingly, Tron founder Justin Sun decisively sold his Ethereum portfolio worth about $119.7 million after Ethereum broke through the $4,000 mark, which triggered widespread market speculation about his investment strategy.

Despite these seemingly negative signals in the market, the cryptocurrency sector still shows many positive developments. At the government level, a Russian lawmaker proposed to establish a national Bitcoin reserve to deal with sanctions, which reflects that digital assets are gradually being integrated into the global financial strategy. At the same time, the acceptance of Bitcoin in the corporate world is also increasing. With the support of the National Center for Public Policy, Amazon shareholders proposed to convert at least 5% of the company's assets into Bitcoin, and Microsoft has previously considered a similar plan. Cryptocurrency mining company Riot Platforms plans to raise $500 million for Bitcoin acquisitions through private placement of convertible senior notes, showing the continued confidence of institutions in the cryptocurrency market.

From the perspective of market analysis, Tom Lee, an analyst at Fundstrat, pointed out that the recent rise in Bitcoin may indicate a future strength in the S&P 500 index, a judgment based on the current high risk appetite of investors. He also emphasized the correlation between Bitcoin and the U.S. stock index, which also explains the possible connection between the current Bitcoin pullback and the stock market decline. It is worth mentioning that the Indian company Jetking Infotrain purchased 12 Bitcoins, becoming the country's first listed company to hold Bitcoin. This groundbreaking move is particularly important under India's strict regulatory environment and may open up new prospects for the development of cryptocurrencies in the region.

2. Key data (as of 09:42 HKT, December 11)

  • S&P 500: 6,034.91 (+26.52% year-to-date)

  • Nasdaq: 19,687.24 (+31.15% year-to-date)

  • 10-year Treasury yield: 4.235% (+21.01 basis points this year)

  • US dollar index: 106.058 (+4.64% year-to-date)

  • Bitcoin: $96,094.72 (+127.36% year-to-date), with a daily spot volume of $103.89 billion

  • Ethereum: $3,573.56 (+56.64% year-to-date), with a daily spot volume of $56.27 billion

3. ETF flows (December 10 EST)

  • Bitcoin ETF: +$154.5 million

  • Ethereum ETF: +$224 million

4. Important Dates (Hong Kong Time)

Non-farm payrolls (09:30 p.m., December 6)

  • Actual: 227,000 / Previous: 36,000 / Expected: 200,000

Unemployment rate (09:30 p.m., December 6)

  • Actual: 4.2% / Previous: 4.1% / Expected: 4.2%

Core inflation annual rate (09:30 p.m., December 11)

  • Actual: To be announced / Previous value: 3.3% / Expected: 3.3%

Annual inflation rate (09:30 p.m., December 11)

  • Actual: To be announced / Previous value: 2.6% / Expected: 2.7%

PPI monthly rate (09:30 p.m., December 12)

  • Actual: To be announced / Previous value: 0.2% / Expected: 0.3%

5. Hot News

  • Japanese Crypto Exchange Coincheck to List on Nasdaq Today

  • Source: Trump wants Bitcoin to reach $150,000 during his presidency

  • Goldman Sachs CEO: If regulations change, we will consider participating in cryptocurrency trading

  • Ripple receives final approval from New York State Department of Financial Services for stablecoin RLUSD

  • Italy to scale back cryptocurrency capital gains tax increase

  • Coinbase has launched Magic Eden(ME) and will launch Gigachad(GIGA) and Turbo(TURBO)

  • Microsoft Shareholders Vote Against Bitcoin Investment Proposal

  • MARA Holdings Increases Holdings by 11,774 Bitcoins

  • Fuel Labs announces launch of native FUEL token and launches Fuel Genesis program

  • DWF Labs announces $20 million AI Agent Fund

  • Binance to List RAY, KOMA, VIRTUAL, and SPX U Perpetual Contracts

  • GSR makes market for MOVE tokens, 70 million tokens have been deposited to the exchange

  • Decentralized trading platform Bluefin may launch BLUE on December 11

  • Binance launches Magic Eden (ME)

  • Matrixport: Greed and Fear Index shows that Bitcoin may enter a consolidation period

  • Market News: South Korea's parliament approves postponement of taxation on cryptocurrency income

  • Michael Saylor: Even if Bitcoin price reaches $1 million, I will continue to buy

  • Google announces quantum computing progress: It takes less than five minutes to complete a supercomputer's 10 to the 25th power year calculation

  • Morgan Creek founder: Crypto market expected to enter bear market in mid-2025

  • OpenAI officially launches AI video generation model Sora

  • Ethereum Developer Max Resnick Joins Solana Camp Out of ‘Frustration’ with Ethereum

  • Russian Lawmaker Proposes Creating a National Bitcoin Reserve

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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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