As 2024 comes to a close, this week the Federal Reserve, the Bank of England, and the Bank of Japan will successively announce their interest rate decisions. Bitcoin suddenly surged this morning, breaking the historical high and reaching $105,250. Ethereum has also returned to above $3,900, but it still has a 20% increase to strive for to reach the historical high of $4,868 from 2021.
Super Central Bank Week is here.
The Federal Reserve will hold an interest rate decision meeting this week from 12/17 to 12/18. The market generally expects the Fed to cut rates by 25 basis points, lowering the federal funds rate to 4.25% to 4.50%. Although the Fed is prepared to cut rates, the arrival of 2025 and the impending Trump administration's threats of tariffs may lead to hesitance among officials regarding further actions due to the potential for import-driven inflation.
The Bank of England (BOE), considering the potential impact of its trade policies on economic growth and persistent price pressures, is expected to keep interest rates unchanged this time.
This year, Japan's central bank finally exited negative interest rates and may not raise rates again until 2025. However, some analysts believe the possibility of a rate hike has increased recently, and the market is watching for signs of policy adjustments.
(Will the Bank of Japan raise rates for the third time in December? Will the yen rise again?)
MicroStrategy is officially included in the Nasdaq 100 index.
MicroStrategy, which prides itself on being a Bitcoin development company, has officially been included in the Nasdaq 100 index, effective before the market opens on December 23, and is expected to drive a new wave of buying.
(MicroStrategy is officially included in the Nasdaq 100 index, and ETFs like QQQ will automatically become buyers.)
Bitcoin 105K, setting a new historical high.
Bitcoin suddenly surged this morning, breaking the historical high and reaching $105,250.
Ethereum has also returned to above $3,900, but it still has over a 20% increase to strive for to reach the historical high of $4,868 from 2021.
The top ten cryptocurrencies by market cap have also seen increases of nearly 1% to 4%.
This article discusses Bitcoin reaching 105K, setting a new high, as the market welcomes Super Central Bank Week. Originally appeared in Chain News ABMedia.
