U.S. stocks closed higher across the board last night, driven by strong performance in large-cap and technology stocks. Data showed that the Dow Jones Industrial Average rose by 0.91%, while the Nasdaq and S&P 500 indices rose by 1.35% and 1.1%, respectively, shaking off the negative impact of weaker-than-expected U.S. consumer confidence data and the Federal Reserve's slower pace of interest rate cuts.
At the same time, Bitcoin unexpectedly turned from a precarious trend to a strong rebound starting at 8 PM, rising over 4% within four hours, reaching a peak of $99,480 this morning.
It is worth mentioning that this upward momentum, which is synchronized with traditional finance, seems to mainly reflect on Bitcoin rather than other altcoins. The changes in Bitcoin's market share indicate that this rebound is primarily driven by Bitcoin, while the rise of other altcoins is not as strong as the previous day.
However, it is important to emphasize that it is currently Christmas, and overall market liquidity is weaker than usual, so investors still need to cautiously manage the risks of extreme volatility.
(This article is reprinted with permission from GT Radar)
About GT Radar
GT Radar focuses on building a long-term robust growth quantitative investment portfolio, with over 10 years of experience in stock market and cryptocurrency quantitative trading. The trading system integrates more than 150 strategies, aiming to provide extremely high adaptability and flexibility to ensure profit is obtained from the market in the most robust way.
Join the GT Radar Discussion Group
Weekly Market Analysis Report
Source
