Stock market today: Nasdaq hits a record as Wall Street drifts ahead of Federal Reserve’s meeting

Bitcoin’s price has catapulted from roughly $44,000 at the start of the year, riding a recent wave of enthusiasm that Trump will create a system that’s more favorable to digital currencies.

Honeywell rose 3.7% after saying it’s still considering a spin-off or sale of its aerospace business, as part of a review of its overall business. It said it plans to give an update with the release of its fourth-quarter results.

They helped offset a drop for Nvidia, whose chips are powering much of the world’s move into AI. Its stock fell 1.7%. Because it’s grown so massive, with a total value topping $3 trillion, it was the single heaviest weight on the S&P 500.

All told, the S&P 500 rose 22.99 points to 6,074.08. The Dow Jones Industrial Average fell 110.58 to 43,717.48, and the Nasdaq composite rose 247.17 to 20,173.89.

In the bond market, Treasury yields held relatively steady. The yield on the 10-year Treasury edged down to 4.39% from 4.40% late Friday. The two-year yield, which more closely tracks expectations for the Fed, eased to 4.24% from 4.25%.

Crypto market crash today....

On Thursday after the US Federal Reserve's projection of fewer interest rate reductions in 2025, affecting investor sentiment and raising concerns about potential outflows from foreign investors.

The Fed announced an anticipated 25 basis points rate reduction but indicated only two cuts in 2025, which is half of what officials had predicted in September.

Global markets reflected similar trends, with US indices showing significant losses. Asian markets followed, with Japan's Nikkei 225, China's Shanghai Composite, and Korea's Kospi all declining.

Solana Struggles Against Bitcoin & Ethereum Why?

Solana (SOL) has recently been lagging behind Bitcoin (BTC) and Ethereum (ETH).

Solana Realized Cap Growth Has Slowed Down Recently

Solana has stacked up against the two largest coins in the sector. “Looking at price performance, SOL outpaced both ETH and BTC for most of Q4 2024,” notes the analytics firm. “However, since early December, ETH has taken the lead, outperforming the other two assets.”

As it stands right now, Bitcoin is up around 18% over the past month, Ethereum 28%, and Solana 3%. Thus, SOL has clearly fallen off after being the market leader just earlier.

What could be behind this shift in the market? The answer to the question could lie in the capital flows that these cryptocurrencies have recently been observing.

The “Realized Cap” refers to an on-chain capitalization model that calculates the total value of any digital asset by assuming that the ‘real’ value of any token in circulation is the price at which it was last transacted on the blockchain.

Since the last transfer for any coin is likely to represent the last point at which it changed hands, the price at its time could be considered its cost basis. Thus, the Realized Cap is a sum of the cost basis of all coins in the circulating supply or, more simply, a measure of the total amount of capital that the investors as a whole have put into the cryptocurrency.

In this view, changes in the Realized Cap essentially reflect the amount of capital that’s exiting out of or entering into the asset. Below is the chart for the 7-day change in the indicator shared by the analytics firm, which showcases these outflows/inflows happening for Solana and others.

The Low Cap Altcoin Alternatives to BNB – Dreamcars, Iota, and Kaia

As Bitcoin finally hits $100k, the crypto market is experiencing new record-breaking surges, and many investors are looking beyond well-established coins.

While major projects like BNB have maintained their status as top 10 cryptos, low-cap altcoins like Dreamcars, Iota, and Kaia are beginning to rise.

Asia’s Largest Web3 Ecosystem

Kaia is a public blockchain project that’s gaining attention for its unique approach to decentralized privacy. In a world where data breaches and privacy concerns are becoming increasingly prevalent, Kaia aims to offer a secure, anonymous way for users to interact with decentralized applications (dApps) and transfer assets while maintaining full control over their data. Although its market cap is still small compared to major players ($1.9 billion at the time of writing), Kaia’s potential to disrupt the privacy sector is significant.

Recent reports indicate that BlackRock has no plans to introduce any new ETFs based on XRP or other cryptocurrencies. Wu Blockchain X account, citing Bloomberg ETF analyst Erich Balchunas, shared in a recent X post that the head of BlackRock’s ETF department, Jay Jacobs, emphasized that the company's current focus remains on expanding its spot Bitcoin and Ethereum ETFs, which have yet to reach a significant portion of their customer base. Wu Blockchain also noted that U.S. regulators, and the SEC in particular, are anticipated to approve ETFs, like SOL and XRP, by the end of next year. As a reminder, last month, an incident occurred involving a false filing attributed to BlackRock regarding an XRP ETF, which the company promptly denied. Meanwhile, other asset managers, including WisdomTree, Bitwise, 21Shares and Canary Capital, have submitted legitimate filings for spot XRP ETFs this year.#MarketCorrectionBuyOrHODL? $XRP $BTC

Bitcoin just flashed a trifecta of bullish signals pointing to a rally to $124,000 in the coming months

Bitcoin's latest rally signals bullish short-term momentum, according to Fairlead Strategies.

Technical indicators flashed a "buy" signal on Tuesday as bitcoin hit a record high of $108,369.

Stockton sees a potential upside of 17% for the token

#BinanceAlphaAlert $BTC

Neiro Ethereum a Scam?

We don’t have definitive evidence that Neiro Ethereum is a scam. However, it’s noteworthy that two separate analyses highlighted suspicious activity around the token, and no project team has stepped forward to claim ownership over $NEIRO. Traders should be aware that Neiro Ethereum could be a honeypot or a pump-and-dump scheme.#MarketNewHype

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