“Trump Trade” is back! Tesla and Bitcoin hit new all-time highs

Last night, the three major U.S. stock indices closed mixed, with the Nasdaq up 1.24%, the S&P 500 up 0.38%, and the Dow down 0.25%.

As Trump's inauguration approaches, the "Trump Trade" is making a comeback.

Last night, Tesla topped the U.S. stock market in trading volume, closing up 6.14%, reaching a new all-time high.

Reports indicate that Trump's transition team plans to eliminate the electric vehicle tax credit for consumers, impose import taxes on all battery materials globally, and withdraw Biden's support for electric vehicles and charging infrastructure. Musk stated that the impact of eliminating subsidies on competitors will be greater than on Tesla, as he believes Tesla has already established a dominant position in the market. Additionally, Tesla has recently raised prices on some models.

As a representative of the "Trump Trade," the cryptocurrency market also surged significantly.

Bitcoin broke through the $107,700 mark during trading, with the latest price at $105,584 per coin.

In the wide fluctuations, investors who shorted Bitcoin and went long at high levels suffered heavy losses. In the past 24 hours, over 110,000 people were liquidated, with liquidation amounts exceeding $400 million.

Moreover, last night Apple, Google, and Amazon all reached new highs.

Most popular Chinese concept stocks fell. iQIYI dropped about 8%, Manbang, Tencent Music, and BOSS Zhipin fell over 5%, and Bilibili fell over 3%.

This week, the global focus is on the Federal Reserve's interest rate decision. According to CME's "FedWatch": the probability of the Federal Reserve maintaining the current interest rate in December is 4.6%, while the probability of a cumulative 25 basis point rate cut is 95.4%.

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