Bitcoin has fallen for three consecutive days, with prices maintaining around $94,000, altcoins are recovering
● BTC has fallen below $94,000 after three consecutive days of gains, failing to successfully recover from the bull market.
● S&P 500 futures were basically flat on Monday evening, as all three major indices opened this week's trading with gains during the holiday period.
● Trading in S&P 500 index futures was close to flat, while the Dow Jones Industrial Average futures showed little change. Nasdaq 100 index futures fell nearly 0.2%.
● This comes against the backdrop of anticipated calmer trading this week. On Tuesday, the New York Stock Exchange will close early on Christmas Eve, and the bond market will subsequently close as well. The market will also be closed on Christmas Day.
● Monday was a relatively calm trading day, with the S&P 500 index rising about 0.7%, and the Nasdaq Composite closing up over 1%. The Dow Jones index, which includes 30 stocks, also closed with a gain of nearly 0.2%.
● Technology stocks and leading stocks were the best performers of the day, driving the S&P 500 and Nasdaq higher. Meta Platforms rose over 2%, Broadcom rose over 5%, while Nvidia rose 3.7%.
● However, the trading day was affected by weak economic data. The Conference Board's Consumer Confidence Index fell to 104.7 in December, below the Dow Jones estimate of 113.0, marking its lowest level since 98.7 in September. Additionally, durable goods orders fell 1.1% in November, the largest monthly decline since June.
● Some investors hope that the Santa Claus rally can bring a satisfying conclusion to an already very strong year. According to the Stock Trader’s Almanac, since 1969, the S&P 500 index has averaged a gain of 1.3% in the last five trading days and the first two trading days of the following January.
● BTC closed in the green for the third consecutive day, the longest consecutive decline since Trump won the U.S. presidential election, which previously pushed BTC to a high of $100,000. The bull market had attempted to push prices back to the $96,000 range, but strong selling pressure caused BTC to fall again.
● ETH showed an upward trend at yesterday's close, with the bull market trying to push prices above $3,500. However, this effort failed, and ETH could only reach a local high of $3,466 before falling to its current level of about $3,360.
