Bitcoin continues to set new highs at $99,014 after surging over 4% yesterday.
BTC Price Chart – 1 Day
U.S. Stocks
Futures contracts in the stock market slightly declined on Thursday evening as Wall Street prepared to close the week with gains for all three major indexes.
Futures contracts tied to the Dow Jones Industrial Average fell slightly by 14 points, less than 0.1%. S&P 500 futures contracts fell by 0.1%, while Nasdaq 100 futures contracts lost 0.2%.
Futures contract movements occurred after a positive day on Wall Street.
On Thursday, the Dow rose about 462 points, or 1.06%, and the S&P 500 increased by 0.53%. The Nasdaq Composite was relatively unchanged. Nvidia shares rose 0.5% after a strong earnings report.
All three major indexes are on track for a positive week, led by a 1.56% increase in the Nasdaq Composite. This indicates a shift from the previous week when Wall Street's post-election rally seemed to stall.
Earnings reports have driven market action in extended trading. Gap's stock rose 15% after the company surpassed earnings estimates and raised its full-year sales guidance. However, Intuit's shares fell more than 5% even after the company's quarterly report exceeded expectations for revenue and net income.
On Friday, investors will watch the preliminary purchasing managers' index report for November, as well as an updated report on consumer sentiment.
Investors will also keep an eye on Bitcoin, which is currently trading just below the important $100,000 mark.
Bitcoin and Altcoin
Bitcoin continues to rise for the 4th consecutive day, bringing the price to a new high of $99,014.
The largest cryptocurrency by market capitalization has more than doubled in price this year, soaring over 130% since the beginning of the year and is now approaching the $100,000 milestone.
Donald Trump's victory in the U.S. presidential election earlier this month and the promise of a more crypto-friendly administration has propelled Bitcoin's price up by 46% in just over two weeks.
Investors also welcomed the announcement of the resignation of U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler on Thursday. Gensler faced criticism from the crypto industry for his enforcement approach.
Currently, BTC is trading around $98,400, up more than 4% compared to 24 hours ago.
BTC Price Chart – 4 Hours
The Altcoin market rose yesterday.
FTX Token (FTT) is the standout project with an impressive performance, surging 35% in just the last 24 hours. For the week, FTT has recorded a profit of over 50%.
Optimism (OP) and XRP (XRP) closely followed with gains of up to 25% on the day.
Many other major projects such as Mog Coin (MOG), Stellar (XLM), Ethena (ENA), Arbitrum (ARB), Raydium (RAY), StarkNet (STRK), Cardano (ADA), Bitcoin Cash (BCH), Flare (FLR), Cronos (CRO), Maker (MKR), Celestia (TIA), EOS (EOS), Ethereum Classic (ETC), Filecoin (FIL), Lido DAO (LDO)… also surged over 10%.
Ethereum (ETH) surged, pushing the price above $3,300 after 2 days of correction.
Recently approved Ethereum ETFs have positioned this cryptocurrency as a potential leading asset, driving strong upward momentum.
Currently, ETH is trading around $3,333, up more than 9% compared to 24 hours ago.
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