U.S. stocks rose across the board last night, driven by strong performances from 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 clouds cast by disappointing U.S. consumer confidence data and the Federal Reserve’s slower pace of interest rate cuts.
At the same time, Bitcoin experienced a sudden shift from a precarious trend to a robust rebound starting at 8 PM, rising over 4% within four hours, and reaching a peak of $99,480 by this morning.
It is worth noting that this upward momentum, which aligns with traditional finance, seems to primarily reflect in Bitcoin rather than other altcoins. The change in Bitcoin’s market share indicates that this rebound is mainly driven by Bitcoin, while the upward momentum of other altcoins has not been as strong as the previous day.
However, it is important to emphasize that we are currently in the Christmas season, and overall market liquidity is weaker than usual. Therefore, investors should remain cautious in managing the risks associated with volatility.
(This article is authorized for reproduction from GT Radar)
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