Bitcoin falls back to around $96,000, altcoins decline
● After bulls failed to push the price back above the $96,000 threshold, BTC fell back to the $100,000 range.
● Stock market futures fell on Thursday evening. Futures linked to the Dow Jones Industrial Average dropped 41 points, a decrease of 0.1%. The S&P 500 and Nasdaq 100 futures both fell by about 0.1%. These moves followed a rather weak trading session on Thursday. The Dow 30 index rose slightly, while the S&P 500 and Nasdaq Composite Index closed almost flat.
● The three major U.S. stock indices recorded gains this week after a strong rally at the start of the holiday. The S&P 500 has risen 1.8% so far. According to Chosen data, the index achieved its best Christmas Eve performance since 1974. The Dow rose 1.1% this week, with gains in large tech stocks driving the Nasdaq Composite Index up 2.3%.
● Despite limited trading this week, investors expect that the stock will soar in the new year, driven by the "Santa Claus rally." This suggests an upward trend in the market during the last five trading days of the year and the first two days of January.
● In December, the Nasdaq is expected to rise 4.2%, thanks to gains in Tesla and Alphabet stocks, along with a recovery in Apple, which brings the iPhone maker's market value close to $4 trillion. The S&P 500 has increased by nearly 0.1% this month. In contrast, the Dow is set to post its worst month since April, declining about 3.5%.
● Due to social media users reporting anomalies in TradingView's Bitcoin dominance chart, Bitcoin dropped to $95,000, showing that Bitcoin's share of the total cryptocurrency market capitalization has decreased to 0%.
● The altcoin market declined yesterday. Ethereum (ETH) plummeted further after three consecutive days of gains. The Ethereum bulls failed to keep the price above the $3,500 mark. Strong selling pressure caused Ethereum to evaporate more than 4% on the day, currently returning to the $3,375 range.
