Article reprinted from: Trading Moment
1. Market Observation
Keywords: BTC, XRP, ETH
The Bitcoin market has reached new highs again. Fundstrat analyst Tom Lee stated that the milestone event of breaking the $100,000 mark dominated the recent cryptocurrency market trends and resonated with the optimistic outlook for the S&P 500 index. After hitting a high of $103,647, Bitcoin's price crashed to around $90,000 before recovering to around $98,000, prompting many traders to begin deploying hedging strategies, while also raising concerns among some experts about market bubbles. Market enthusiasm continues to rise, with the daily trading volume of Huaxia Fund's Bitcoin ETF exceeding HKD 370 million, setting a historical high since its listing. Institutional investment enthusiasm remains high, with Semler Scientific investing $29.3 million to increase its Bitcoin holdings. Meanwhile, Ethereum also followed the market trend, hitting a new high of $3,956 for the year.
As the first country in the world to adopt Bitcoin as legal tender, El Salvador's investment strategy is reaping substantial rewards. Its Bitcoin holdings have increased in value to $603 million, with returns skyrocketing by 124%. This successful case has not only earned praise from Tesla CEO Elon Musk but has also boosted the strong performance of the country's sovereign bonds, making them among the best-performing bonds in emerging markets.
The enthusiasm for cryptocurrencies in the business community continues to rise. As Bitcoin breaks through $100,000, the stock price of cryptocurrency giant MicroStrategy immediately surged 8%. Manufacturing company Worksport also joined the layout, announcing that it would allocate 10% of its operating cash to Bitcoin and XRP, which directly drove its stock price up by 9%.
Regarding market prospects, ARK Invest CEO Cathie Wood remains optimistic. She believes that even though Bitcoin's market cap has reached $2 trillion, it is still in the early stages of growth. Ethereum, despite hitting a monthly trading volume record of $183.74 billion in November, faces significant resistance to break the $4,000 mark. Notably, former President Trump stated on his social platform Truth Social that Bitcoin's recent breakthrough is closely tied to his personal influence.
2. Key Data (as of December 6 at 09:49 HKT)
S&P 500: 6,075.11 points (Year-to-date +27.37%)
NASDAQ: 19,700.72 points (Year-to-date +31.24%)
10-Year U.S. Treasury Yield: 4.222% (Year-to-date +30.31 basis points)
U.S. Dollar Index: 105.898 (Year-to-date +4.57%)
Bitcoin: $98,481.93 (Year-to-date +133.01%), daily spot trading volume is $15.561 billion
Ethereum: $3,879.62 (Year-to-date +70.05%), daily spot trading volume is $60.9 billion
3. ETF Flow (December 5 EST)
Bitcoin ETF: -$3.8 million
Ethereum ETF: +$135.8 million
4. Important Dates (Hong Kong Time)
ISM Manufacturing PMI (December 2 at 11:00 PM)
Actual: 48.4 / Previous: 46.5 / Expected: 47.5
JOLTS Job Openings (December 3 at 11:00 PM)
Actual: 7.744 million / Previous: 7.372 million / Expected: 7.49 million
ISM Services PMI (December 4 at 11:00 PM)
Actual: 52.1 / Previous: 56 / Expected: 55.5
Non-Farm Payrolls (December 6 at 9:30 PM)
Actual: Awaiting announcement / Previous: 120,000 / Expected: 183,000
Unemployment Rate (December 6 at 9:30 PM)
Actual: Awaiting announcement / Previous: 4.1% / Expected: 4.1%
5. Hot News
Pudgy Penguins will issue the $PENGU token in 2024, with 25.9% allocated to the Pudgy community
Data: The UK government currently holds nearly $6 billion in BTC
Grayscale DeFi Fund latest holdings: UNI accounts for over 58%, AAVE ranks second with 18.65%
aelf's first halving will take place on December 12, reducing the block reward to 0.0625 ELF
Fundstrat Research Director: Bitcoin breaking $100,000 is a signal for a year-end rally in the stock market
Trump nominates David O. Sacks as White House cryptocurrency and artificial intelligence director, ZRX briefly rises 22% to $0.8159
Florida plans to establish a Bitcoin strategic reserve by 2025, potentially investing over $3 billion
Bitcoin briefly plummeted to around $90,000 this morning, now recovering to $97,000
Trump posts to celebrate Bitcoin breaking $100,000
In the past 24 hours, the entire network faced liquidations totaling $1.096 billion, with long positions liquidated amounting to $817 million
Coinbase International will launch perpetual futures contracts for Moo Deng, Algorand, The Sandbox, and Mog Coin
The UK (Financial Times) publicly apologizes to readers for 14 years of negative reporting on cryptocurrencies
U.S. listed company Semler Scientific invests $29.3 million to purchase 303 BTC
U.S. listed company Worksport announces the purchase of Bitcoin and XRP as reserve assets
Standard Chartered Bank: Bitcoin could reach $200,000 by the end of 2025
a16z releases the top ten trends in the cryptocurrency industry for 2025: including AI wallets, DAC, stablecoin payments, etc.
10x Research: ETH is testing the upper boundary of a triangle, and a breakout could challenge historical highs
Data: The Bitcoin ETF under Huaxia Fund has daily trading volume exceeding HKD 370 million, setting a historical high since its listing
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