Bitcoin's price remains above $95,000 after a pullback, altcoins surge
● BTC fell below $94,000, selling pressure increased significantly, but the market subsequently stabilized above $95,000.
● S&P 500 futures were flat on Tuesday evening, after the index hit a new record closing high.
● S&P 500 futures rose by less than 0.1%. Nasdaq 100 and Dow Jones Industrial Average futures increased by 0.2%.
● In extended trading, Salesforce's stock price soared by 10% after the company reported third-quarter revenues that exceeded expectations.
● During regular trading hours, the S&P 500 index rose slightly by 0.05%, and the Nasdaq Composite Index increased by 0.4%. Both indices reached historical highs. The Dow Jones index, which consists of 30 stocks, fell by nearly 0.2%.
● Major indices showed relatively weak performance at the beginning of December, contrasting with the strong rally following Trump's victory in November. However, LPL Financial's investment strategist George Smith stated that the stock market's upward trend may continue this month.
● "Entering December, the upward momentum in the stock market may persist, as historically December is usually a peak season for the stock market," he said.
● Labor market data, particularly the November employment report expected to be released on Friday, could shape the next phase of the upward trend. Data released on Tuesday showed total employment in October reached 7.74 million, exceeding economists' expectations.
● On Wednesday, traders will focus on the November ADP private sector employment report, which is expected to show an increase of 163,000 jobs. The U.S. S&P Purchasing Managers Index, factory orders, and durable goods orders will also be released.
● Regarding the Federal Reserve, Chairman Jerome Powell will speak in New York on Wednesday. Companies like Chewy, Dollar Tree, and Foot Locker will also report earnings on Wednesday.
● Bitcoin fell below $94,000 under strong selling pressure, but the bull market strength reemerged, pushing the price back to around $96,000, closing with gains.
● Currently, this top asset is trading around $95,700, as investors continue to struggle to regain upward momentum in hopes of hitting the $100,000 target.
