U.S. stocks rose broadly last night, driven by strong performance in large-cap and technology stocks. Data showed that the Dow Jones Industrial Average increased by 0.91%, while the Nasdaq and S&P 500 indices rose by 1.35% and 1.1%, respectively, shaking off the negative impact of weaker-than-expected U.S. consumer confidence data and the Federal Reserve’s decision to slow the pace of interest rate cuts.
At the same time, Bitcoin experienced a sudden shift from a precarious trend to a strong rebound starting at 8 PM, rising over 4% within four hours and reaching a high of $99,480 this morning.
It is noteworthy that this upward momentum, which aligns with traditional finance, seems to be primarily reflected in Bitcoin rather than other altcoins. The changes in Bitcoin’s market share indicate that this rebound is mainly driven by Bitcoin, with other altcoins experiencing less upward momentum compared to the previous day.
However, it is important to emphasize that we are currently in the Christmas season, and overall market liquidity is typically weaker than usual. Therefore, investors must remain cautious in managing the risks associated with volatile fluctuations.
(This article is reproduced with permission from GT Radar)
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